ERF is up over 5%, AAV is up almost 4%, PGH is up almost 4%. The Canroys are generally doing well but PVX can't get out of its own way. I really don't understand why PVX's price performance compared to other Canroys is so bad.
I agree, I think this is a case of extremely poor management. That's it - Clearly they are in business for themselves and not the shareholders. Regardless of market conditions I believe these guys are capable of benign neglect and underperformace.
i definately think its a semi-bad time for the trusts, you have the oil retreating from highs, old hedges clamping down on profits, and the tax problem 2 years out.
also, PVX as we know has heavily increased its capital improvement plan, to try and grow production and continue to milk the midstream ops. Although, these are positives for the growth of the trust, in todays market they are negated by the commodity price and the tax situation.
I expect production to be up next year as they continue to work the acquisitions. I would guess they would continue to pay down debt instead of increase the dividend. Only time will tell. I'll be curious what happens after they report the next quarter.... should be payout ratio in the 65% percent range.