A price of $18 gives a yield of 15% at the current dividend. This seems to be the investor sweet spot. PGH will tend to return to this level unless the dividend changes. So, if you are a long-term investor just wait until it returns to this level or below and then add to your position. If you are a trader buy/sell when it gets too far below/above this level.
I must admit, though, that it is quite frustrating to see the canroys tread water when oil/nat gas are rising and then sell off when oil/nat gas start to decline.
I always wondered WHEN a stock would regress to the mean -- 1 yr., 5 yrs., 10 yrs. Also, with the dollar being devalued over time, what does the mean really mean? Maybe we can have an expert on this board explain. TIA.