I sold my LINE today and added a few more shares of BRY to add to my existing BRY position. I will just wait out the eventual merger and get shares of LNCO. I just don't like K-1's. The spread between BRY and LNCO at today's closing price is 7.2%. And when merger does close LNCO will likely go up in price. If merger does not happen (unlikely) then I would prefer to have my money in BRY.
Wells Fargo is my investment firm (100 free trades a year) had BRY as a strong buy before the merger deal Valuation Range: $64.00 to $68.00
Our range is based on our NAV estimate, which includes value for both proven and
unproven reserves, as well as other net assets and liabilities. Our NAV estimate for
BRY is $49.95; however, shares have upside from these levels on the announced
BTW I did go to Target to check out those folding chairs but did not buy them, instead went to the Outlets and bought 2 nice Reebok Pants for $20 each to celebrate crushing the shorts for now!!!
WF last rated Berry in March 2012 (before the merger). At the time it was priced at $55 and hasn't been close to that since, falling to $31 in October. Would you have felt the same way about the WF rating had Linn not offered to buy them?
What has happened in slightly over a year that Berry's value has dropped by 1/3?
Well, your question got me a little curious...so I took a quick look over at Finviz....it seems to say that BRY has about $13Million more in income than COG yet COG is quite a bit bigger in market cap.....
and since you follow COG....I just want to check to see if that FINVIZ info is about correct??