RE: Great company, bad stock It trades at this price because it is a COMMODITY stock NOT a growth stock. Commodity stocks always show high growth and high profits during a commodity boom. But once oil prices crash - and they always do eventually - this company and all drillers will tank. Commodity stocks always look cheap on a PE basis, but that is deceptive because the earnings can go negative in a heartbeat.
I still like horizontal drill services as a sector. I still think there are a few years of growth left. But don't mistake this for a growth stock. I will probably buy them on this pullback.