This Cheap Oil Stock Generated Its First Profit in Years. Time to Buy?

Motley Fool - 02-14


Considering all the bad news during the fourth quarter about U.S. producers exhausting capital spending budgets early and the Alberta government enforcing production reductions to alleviate a glut of supply, the results for rig owner Precision Drilling (NYSE:PDS) were a pleasant surprise. Not only did the company beat earnings expectations, but it also continued to deploy rigs at a time when the oil services industry is suffering.