the last two days of action made no sense. PBFX was up 11% on Monday, yet PBF was flat. Today, they are both down 4%. PBF is an misunderstood gem that is going to pay a shareholders almost 5% here, and that dividend looks poised to grow in the coming year, if not within 2014. This is a great long term hold.
Cuda: I agree with you. The controlling interests in PBF are not in for the quick sale, but rather to grow the assets significantly before selling. Management has said that it is looking for strategic acquisitions and has managed its balance sheet to do just that. IMO, another buying opportunity here, although I am already choking on it from the previous "buying opportunities". : ) Peter
Very nice divy if we drops more will buy on every $1 down move over time you can't go wrong also check ppl very good divy and growing spin off in april time frame do your homework but looks good to me.
Big guys tripped all the sells then came in and bought. News is around the corner with Options Exp. Friday and possible Sale of Citgo to one or multiple refiners /oil companies.
offshore drillers are possibly more hated. Refining is a good long term business and PBF will be operating at capacity in any environment. They can buy back shares here, and increase the dividend next year.
everyone hates refiners now....thats when you buy 'em...sell 'em when everyone loves them
probably the most hated sector there is right now...its 'due' for a vicious snapback rally at least
The company generates $382.78 per year (according to Yahoo finance). After all, the company has $19.7 billion in annual revenues and a float of 79 million shares.
It doesn't look the like buybacks are going to bring the shares north of $32, though I think they're a great use of capital when the shares were at $25. What catalysts does the street need before it recognizes PBF's value? I figure now that we don't have the PE overhang, two or three good quarters in a row should do it, but purchasing a fourth refinery may prompt the street to reassess as well. In the mean time, I'm just gonna sit here with my 4.7% dividend yield.
They were waiting for private equity to stop issuing shares. They were selling millions every few months, but they are down to below 5% now, which means no more secondaries.
BioLargo is strongly positioned to become the world leader in water treatment for the oil and mining industries. Google - “Vimeo AOS Filter” to see short video clip that shows how AOS Filter technology works.
The AOS Filter is a new invention that is an electro-chemical reactor/filter that decontaminates “produced water” from oil sands production and “flowback” from fracking – ULTRA FAST and at ULTRA LOW COST never seen before. BioLargo symbol is BLGO. Six month Price target is $5
Sentiment: Strong Buy
The announced buyback should help the stock price quickly recover its 52 week high of $32-33. The Company believes its stock is undervalued...Now, let's see mgmt and the board step up and buy some shares personally.
Take a look at the September call options on PBF. Open interest 18,447 at $30 and 13,649 at $35. Just hold and don't buy more. Stock may go down again on the 27th when they pay the divy. Lots of interest in Mid Continent refiners. I would not be surprised if someone makes an offer for PBF.