Had you bought PGH 1 yr ago, you'd be at 6.82 a share right now, up from 5.00.
One year ago pgh was 5.00 a share.
factor in twelve .04 dividends, and a 5% drip, and add that to 6.31.
That does not include dividend compounding.
Now, where will we be in 12 more months ?
factor in another 50 cents in drip dividends.
factor in reduced drilling.
factor in reduced construction.
factor in increased production.
factor in another buy signal from cramer, who now that the price has rebounded will probably change his mind again.
No doubt... Did you see where Buffett has been buying into Canadian heavy oil companies? The article mentions nearly 18 million shares of Suncor, but goes on to profile the benefits of heavy oil over the shale light, predicting a major dropoff in north america light production around 2018. Nice that Lindy should be in full production by that year, while we get paid 7% for our patience AND foresight.