3SOF

Thank you for the replies.  Excellent graphics btw.

After studying the chart further it appears to be trading along a ~175dma and with the market in a possible correction mode I can see it dropping to this line which would price it around $6.40'ish.

I'm definately no expert and enjoy learning more everyday so feel free to speak frankly.

Jody

chart....

Anyone got this one on their radar?

Cramer said to buy it yesterday   as a general rule i try to stay out of stocks he pumps

Grey Wolf, Inc. Announces Record Operating Results for...


HOUSTON, May 2, 2007 /PRNewswire-FirstCall via COMTEX/ -- Grey Wolf, Inc. (GW, Trade) ("Grey Wolf" or the "Company") reported net income of $58.6 million, or $0.27 per share on a diluted basis, for the three months ended March 31, 2007 compared with net income of $54.2 million, or $0.24 per share on a diluted basis, for the first quarter of 2006. Revenues for the first quarter of 2007 were $242.0 million compared with revenues for the first quarter of 2006 of $222.9 million. The first quarter 2006 results included an after tax gain of $5.9 million ($0.03 per diluted share) for the sale of five rigs formerly held for refurbishment.

"Grey Wolf surpassed previous highs for net income and net income per share in the first quarter reflecting the benefits of our term contract portfolio and our new rigs entering the market," commented Tom Richards, Chairman, President and Chief Executive Officer. "Four of the six new 1,500 horsepower rigs we ordered in 2006 generated profits during the first quarter. The fifth rig began working in the second quarter and the sixth rig is scheduled for delivery during the third quarter."

Mr. Richards continued, "Daywork and turnkey EBITDA per day reached levels not previously achieved in the Company's history. EBITDA from our daywork operations increased 21% over the first quarter of 2006 and contributed to record quarterly EBITDA of $116.9 million."

The Company's total earnings before interest expense, taxes, depreciation and amortization ("EBITDA") of $116.9 million in the first quarter of 2007 rose from $105.0 million for the fourth quarter 2006 and $106.3 million for the first quarter 2006. On a per-rig-day basis, EBITDA was $11,780 for the first quarter of 2007, $10,384 for the fourth quarter of 2006 and $10,866 for the first quarter of 2006. Turnkey EBITDA per rig day in the first quarter of 2007 was $21,536 and daywork EBITDA per rig day totaled $11,131.

Mr. Richards added, "The Company also is pleased to announce that we have signed a three year term contract for two 3,000-horsepower rigs to go to work in Mexico for a major international oilfield services company. Operations are expected to commence under the contract late in the third quarter this year."

Mr. Richards concluded, "The addition of newly built rigs into the land drilling market has created some excess rig capacity which has led to a decline in spot market dayrates. This downward pressure could continue as additional new rigs enter the market, however, Grey Wolf's portfolio of term contracts and our premium quality equipment coupled with our skilled rig crews have helped buffer our exposure to the erosion in spot market dayrates. Because of strong commodity prices for both oil and natural gas, we believe there will be demand for additional land rigs later this year."

Today, the Company is marketing 120 rigs, with 75 of those working under daywork term contracts, 25 working under spot market daywork contracts, 7 working under turnkey contracts and 13 rigs are idle. Grey Wolf averaged 110 rigs working in the first quarter of 2007. This compares with an average of 110 rigs working in the fourth quarter of 2006 and 109 rigs working during the first quarter of 2006. Under daywork term contracts, the Company has approximately 15,700 days, or an average of 57 rigs, contracted for the remaining three quarters of 2007 and 7,900 days or an average of 22 rigs committed in 2008. Current leading edge bid rates have declined by approximately 15% to 25% from six months ago and now range from $16,000 to $22,000 per day without fuel or top drives.

Capital expenditures totaled $67.4 million in the first quarter of 2007. Based upon the remaining payments for the new rig purchases and 2007 rig activity, capital expenditures for 2007 are projected to be $140 million to $150 million.

Under the previously announced plan that authorizes the repurchase of up to $100.0 million of Grey Wolf common stock, the Company purchased 1.6 million shares during the first quarter of 2007 at a total cost of $10.8 million. In total, 10.9 million shares have been bought under this plan in the past year for a total cost of $75.9 million.

During the second quarter of 2007, the Company expects to average 101 to 104 rigs working with seven to nine of these rigs performing turnkey services. Average daywork revenue per day is expected to decrease by $1,200 to $1,500 as excess rigs in the market continue to pressure spot market dayrates. Depreciation expense of approximately $22.1 million, interest expense of approximately $3.5 million and an effective tax rate of approximately 37% are expected for the second quarter of 2007.

Grey Wolf has scheduled a conference call May 3, 2007 at 9:00 a.m. CT to discuss first quarter 2007 results. The call will be web cast live on the Internet through the Investor Relations page on the Company's website at:


                          http://www.gwdrilling.com 

To participate by telephone, call (800) 287-0836 domestically or (212) 676-4903 internationally ten to fifteen minutes prior to the starting time. The reservation number is 21333137. A replay of the conference call will be available by telephone from 11:00 a.m. CT on May 3, 2007 until 11:00 a.m. CT on May 5, 2007. The telephone number for the replay of the call is (800) 633-8284 domestically or (402) 977-9140 internationally and the access code is 21333137. The call will be available for replay through the Grey Wolf website for approximately two weeks after the conclusion of the call.

This press release contains forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. The specific forward-looking statements cover our expectations and projections regarding: demand for the Company's services; excessive rig supply in the market, the benefits of term contracts; second quarter 2007 rig activity, average daywork revenue per day, dayrates, projected depreciation, projected tax rate and interest expense; expected new rig delivery schedule; projected capital expenditures in 2007 and projected returns on new build rigs. These forward-looking statements are subject to a number of important factors, many of which are beyond our control, that could cause actual results to differ materially, including oil and natural gas prices and trends in those prices, the pricing and other competitive policies of our competitors, uninsured or under-insured casualty losses, cost of insurance coverage, increasing rig supply, changes in interest rates, unexpected costs under turnkey drilling contracts, weather conditions, and the overall level of drilling activity in our market areas. Please refer to our 2006 Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 27, 2007 for additional information concerning risk factors that could cause actual results to differ materially from these forward-looking statements.

Grey Wolf, Inc., headquartered in Houston, Texas, is a leading provider of turnkey and contract oil and gas land drilling services in the best natural gas producing regions in the United States with a current total drilling rig fleet of 120, which will increase to 121 with the expected addition of a new rig by the end of the third quarter of 2007.


 
                                                      SOURCE Grey Wolf, Inc.


David W. Wehlmann, Executive Vice President & Chief Financial Officer of Grey 
Wolf, Inc., +1-713-435-6100, or fax, +1-713-435-6170 

http://www.gwdrilling.com 

Copyright (C) 2007 PR Newswire. All rights reserved ********************************************************************** As of Saturday, 04-28-2007 23:59, the latest Comtex SmarTrend? Alert, an automated pattern recognition system, indicated an UPTREND on 04-16-2007 for GW @ $7.16. For more information on SmarTrend, contact your market data provider or go to www.mysmartrend.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright ? 2004-2007 Comtex News Network, Inc. All rights reserved.

Nice to see GW start to move in the right direction.
Good 13 and 50-day MA, looks promising, earnings are up and a lot of spare cash floating around in the industry.
Great value,
Profit margin, return on equity, growth rate, PEG, price-sales ratio...everything about this stock points to a screaming buy.
Looks like a nice Cup and Handel on the chart.
Closing in on the "Golden Cross" !


Strong First Quarter for Grey Wolf,
Grey Wolf, reported strong first-quarter 2007 results, reflecting continued strength in its underlying business. While the growing entry of new-builds is exacerbating the market's supply-demand fundamentals...as reflected in soft spot dayrates...Grey Wolf is better positioned to meet this challenge with the help of its premium fleet and relatively stable term contracts.

52wk Range: 6.10 - 8.57
Volume: 3,113,075
Avg Vol (3m): 3,208,980

Technicals
Most Actives

Last Price Quote is:
2.13%above 13-day MA
7.07%above 50-day MA
RS Rating: 27 

Fundamentals
Key Data:
Market Cap (M): $82.85 
P/E Ratio: 6.28 
PEG Ratio: 0.20241 
Next Earnings: 08/06/2007
Last Analyst Rating: Outperform

Nice upswing.......  
+ The Double Bottom (reversal) Pattern
I'm telling you...You're going to want some GW.

Recent CandleStick Analysis
Very Bullish
May-17-2007 Bullish Engulfing 

Support @ $7.70...

52wk Range: 6.10 - 8.15
Volume: 4,930,997
Avg Vol (3m): 3,313,610

Technicals
Most Actives
MACD is Bullish

Last Price Quote is:
4.44%above 13-day MA
9.94%above 50-day MA
RS Rating: 33 

Fundamentals
Key Data:
Market Cap (M): $82.85 
P/E Ratio: 6.28 
PEG Ratio: 0.212048 
Next Earnings: 08/06/2007
Last Analyst Rating: Outperform

Quote from: setravis on May 20, 2007, 03:58:21 PM
Nice upswing.......  
+ The Double Bottom (reversal) Pattern
I'm telling you...You're going to want some GW.

Good looking chart.......
Grey Wolf's chart and indicators look very strong and should continue its uptrend.
Earnings are good, PE respectable.
I think this bull market area will have an excellent year and
GW will continue making new highs.
I'm not sure it will drop in price enough to
wait before buying. At this price I see GW as a time to buy now.

52wk Range: 6.10 - 8.46
Volume: 1,714,100
Avg Vol (3m): 3,597,780

Technicals
Record Price High
Close Above the 13-day MA
Most Actives

Last Price Quote is:
3.68%above 13-day MA
9.64%above 50-day MA
RS Rating: 30 

Fundamentals
Key Data:
Market Cap (M): $82.85 
P/E Ratio: 6.28 
PEG Ratio: 0.544444 
Next Earnings: 08/06/2007
Last Analyst Rating: Outperform

GW's video analysis:




There isn't much thinking to do on GW, expectations were very low and the company has been surprising on the upside as the oil price is near its highs. Valuation is about half of its industry peers. Technically the stock has been very strong lately and on Friday had its highest volume in  a year, at 11.3 million shares.

The Trading Plan is:

Buy GW, 6.66% of capital as always.

David,

When you showed the table comparing the GW's EPS numbers with those of the competitors' and the industry standard, I noticed, that all competitors also have lower than the average numbers. Why is that, in your mind? And why should GW surpass the competitors, e.g. PTEN?

                   GW      HP     NBR    PTEN  Industry
EPS (ttm): 1.005  3.750  3.540  3.857  0.22
P/E (ttm):  8.56    9.63    9.91    7.17   16.86
PEG (5 yr expected): 0.99 N/A 0.43 1.71 0.99
P/S (ttm):  1.65    2.60    2.01    1.74    4.52

Why do you show only a 2.3% size on the holding?

Quote from: DragonAMG on June 25, 2007, 12:28:28 PM
Why do you show only a 2.3% size on the holding?

Sorry, the quantity of shares wasn't right, instead of 3,100 shares I inserted 1,100 in the website's administration. It's fixed now.

Quote from: berloga on June 25, 2007, 09:16:09 AM
David,

When you showed the table comparing the GW's EPS numbers with those of the competitors' and the industry standard, I noticed, that all competitors also have lower than the average numbers. Why is that, in your mind? And why should GW surpass the competitors, e.g. PTEN?

                   GW      HP     NBR    PTEN  Industry
EPS (ttm): 1.005  3.750  3.540  3.857  0.22
P/E (ttm):  8.56    9.63    9.91    7.17   16.86
PEG (5 yr expected): 0.99 N/A 0.43 1.71 0.99
P/S (ttm):  1.65    2.60    2.01    1.74    4.52

Land drillers are at crossroads now. Bears continue to argue about the drill rig overcapacity, the bleak outlook this year, and the perceived anemic growth in the years that follow. On the other hand, the few "remaining" bulls and value investors are pointing to the attractive valuation and the solid fundamentals still in place now.
PTEN has recorded a positive  free cash flow for six years in a row. PTEN's 14% share of total footage drilled is nothing short of impressive.
Expect some bad quarter ahead for land drillers in the US,  drill rig overcapacity anticipated to be worked out by 2008

GW volume - rebalance of the Russel 2000

Allis-Chalmers Corp (ALY better value) oil play and HERO on Pullback target $55 next year

Thanks for your post and view yukiii

I certainly wasn't expecting to start losing 3.18% out of the gate with GW. It makes me feel like selling out right way, according to the principle that "a good trade is profitable right from the start". But my best trades this year, GOAM, HAUP, SYX, TSL, NGA, SILC and NVTL, for example, all started out as losers.

If the day marked with "1" is any indicative of GW's short term technical behavior the stock should come back strongly today. Next we have the ascending trendline support, currently at $7.97.

I'll keep holding GW.

GW has been growing 30% a year and trades at about 8 times earnings, this is too cheap in my view. I'll keep holding GW.