*Plenty of cash flow in 2013 to fund debt, divy, and capex---and assuming additional sales as they stated--plenty of cash for 2014 as well
*Back off all the claims regarding the "pending" loan covenants being broken---we have NO working capital deficiency covenants...PERIOD---also, if you're familiar with Oil and gas Cos. you would know how capital intensive they are and you would know that it is common place for lenders to go a few qtrs with a covenant being broken before they came at you---our debt covenant should not worry us
*STOP!!!! with all the BS about "our deep discounts" on the oil we sell to PAD---the current spread is $5 from WTI I know it peaked around $20 last summer BUT it corrected back to just a few bucks soon thereafter---if you read the budget---the board states that we should see a higher operating net back than last year--so shut up--plus they are factoring about $9 for the spread on average for the year
*Dividend is safe *Insiders are speaking with their $$$$$$---why put out a press release telling the insecure to "take a breath" little baby----THEY ARE USING THEIR OWN CASH--that speaks volumes
*What we should watch = Keystone pipeline--we need more than one market for our oil--Nebraska saying yes was a huge step--- also watch for the Canadian Western pipeline (doubt this happens anytime soon--too many environmental dipSHYTS in B.C. who don't realize it is less dangerous than shipping by rail or truck)
* BOTTOM LINE---risk with everything--world depression = very bad for PGH (but than very bad for most everything) with improving world wide economy--WE HAVE a salient future
I am long and excited about my investment and looking to add when I sell other positions
Best Wishes (would love to dialogue but only with educated souls--not "BK is on the WAY" idiots)
Hey CW nice post. There is only one guy with several names. I've asked him so many times why he is on this board but he refuses to answer.
Also you forgot about insider buying.
I've said this several time too. Energy has always been a lagging indicator.
This is a good company at a great price. You only lose if you sell (unless you are a day trader or buying and selling on margins.
My disclaimer: The only reason I post or read this board is that I'm old and retired and not much else to do.
Sentiment: Strong Buy
The postings here are remarkably like the ones on the ATPG board about 6-9 months before it went under. . There was no way (or so I thought) that ATPG could go under. Oil prices were high and management had not only started the company, but they owned a big part of it. Well, they went under and I lost 10% of my portfolio. I am now standing around waiting for maybe some warrants after the BK. So my advice is use to invest a reasonable part of your portfolio (I have 4% on PGH) and don't go beyond it, no matter how much of a screaming buy it is.
If we have such a "salient" future as you suggest, then please explain why this massive sell-off with oil near $100. If this is such a grand opportunity, why hasn't management started a share buy-back with the pps at these oppressed levels? It does shareholders little good to get a .04 divy when the stock is lossing $o.30 to .50 cents per week. At this point they should stop the divy and start a share buy-back and get the share price at least back up to NAV. I can't believe management has shareholders interest in mind when they let our share price crash to these levels, with more of the same likely to come, and if this continues it will force more and more selling compounding the problelm. Regardless of your sentiment regarding PGH, if management doesn't step in soon, the machines and the shorts will trade this stock right on down to a penny stock, and there well on there way to doing just that.
If they need money to expand, which would you do, buy back shares, and borrow the money, or use what you have to expand, and continue to pay the divy. I kinda like the shares here at a lower price, as my reinvested divy continues to buy more shares. If exec are putting their money in the stock, they see the same thing i do, a better yield than the .1% the banks are paying, and they know better than I do that if even if it continues to go down, it will at some time go back up. I wish I had more to invest at this level, as 10% yield per month is 100 times greater than any bank is giving me.
Clearly this is not retail selling dropping this stock---I pay for Bloomberg Subcription services and I am just starting to get the institutional info for 4th quarter---it will be interesting to see what 1st QTR says, but I wont have that until May---I can't tell you why the some of the big boys have been pulling out My guesses?? #1 reallocation of funds--shifting areas of focus #2 techs on this stock started to break down awhile ago and that triggers sale #3 they are drunk, bottom line I don't know, but the sales reports shoudl shed light on it--I will share the info as I get it---but please consider this-----if you have been a detailed investor, you will also know that the "big boys" pulling out of a stock can make a FANTASTIC opportunity for the retail guy to enter (thank you Mr. buffet on COP, you left at the right time for me to get in --look what it did after he left)
Number 1 there is little to no short interest in this stock. Number 2 I agree with you as far as buying back shares trading at this discounted value. Number 3 having gone thru the investor presentation many times, management does have a strategic plan and much of the success depends on oil and gas prices as well as pipeline progress.
Titty--I am confused by your question---you are incorrect about the $93 WTI price assumption in the last presentation---they used $90 WTI and 9% discount on light oil and 23% on heavy---that not withstanding---I think we are holding up well----