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Penn West Petroleum Ltd. Message Board

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  • mlpnewby59 mlpnewby59 Mar 2, 2008 4:48 PM Flag

    Question for knowledgable on Friday's trading

    Canroys are always more volatile than other stocks. My own belief is that mostly individuals own these for income. As soon as a wiff of bad news comes along,or like Friday, a market downdraft, the weak hands jump ship. Also, I don't believe that this stock has fully digested the Vault and the Canetic mergers. I think many of those investors who received PWE shares are selling, as they don't have the same confidence that PWE shareholders have.

    In any event I am buying more on Monday and looking at this temporary dislocation as a buying opportunity. As the previous poster stated, Q1 will be great.

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    • Canadian oil trusts do trade on dividend and as
      a result attract income investors this analysis
      was done by Fairholme Mutual Fund which led them
      to sell 7 million shares -part of the year-end
      PWE selloff!

      However I will take my chances on PWE yielding
      14% this year versus a stock market this year that
      will be lucky to breakeven!

      Warren Buffet stated in his just released annual
      report that investors can plan on no more than
      7% annual return over the next ten years!

      • 1 Reply to marie2148
      • Using your logic Maria, we can expect PWE to pay 14% dividends and lose 7% of its share value.

        PWE's share price is correlated with the market much more than the price of oil of NG. That makes some sense in today's world of program trading and 10,000 hedge funds.

        I'm not at all optimistic about the US (or world) markets over the next 6 months, so that's part of the reason I'm out of the market right now - including PWE.

        Sure, 3% in a MM is a lousy return, but at least my capital is safe.

    • mlpnewby59 wrote
      "In any event I am buying more on Monday and looking at this temporary dislocation as a buying opportunity"

      I'd be damn careful about doing that. In case you haven't heard we are in a very bad bear market and PWE will not buck the downtrend.

      It won't be very long in the near term where you will be wishing for your RETURN OF MONEY instead of return on money.

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