Too painful & Plenty of other opportunities in the market that are moving higher. been in this trade since sept with a cost basis of 25.50. How can a stock be so hated? Especially one that trades at this kind of multiple? What am I missing here? I had hoped the last move to 23 might be a sign of something, but here we are flirting with the 52 week lows....AGAIN.
It is amazing. No matter why, it is still way undervalued. I wonder if the comment during the conference call about "investing more (spending) than capital" for the next two years has something to do with it. The syntax of the verbal comment was not valid but I took it to mean heavy spending on their new diversification strategy for the next two years. Not sure if he really meant they would spend more than they take in for two years.
Agree agree, all energy names are out of favor right now, oil lower, sequestraiton nonsense, sgy had good numbers and grew production and increased capex. We will have to wait for higher energy prices and some excellent discoveries this year. Hopefully less third party pipeline issues and mild weather. 28-32 is my value IMO