Sold some of my August call options this morning for 2 1/2 times cost. Great day in the oil patch!
WNR beat analysts' estimates on both the top and bottom lines. Earnings were $1.25/shr, 4-5 cents over ave. estimates. Rev. was about $150MM over ave. estimates. Listen to CC at 11AM eastern time.
never sell out too early when there is a short squeeze in progress. this thing may overshoot way on the high side before we come back to reality. The majors are at break even and WNR is still making $25/bbl.
Profits are always a good thing!! No harm in that at all!! Congrats.. I listened to the CC. Call me crazy but I still have this gut feeling that WNR is going to either merge or be purchased.. Anyway, call was good and management is still clearly focused on shareholder value! NG stocks still solid...I am liking many of them for the next 1-3 years.. I can see a double and even a triple in some of them.............Good weekend to all.. PS- keep your eye on the mid east- its still set for a big oil disruption....D
The middle east problems are all internal issues,,,,with no availability of crude those countries will beg for cash...USA is now independent from their oil and Europe will be covered by Canadian,Mexican, brent and multiple south American resources.
Recent Div increase and probably another to follow will discourage takeover.
Thanks David. It's always a risk to carry first month options into the day of the earnings report, but this time it paid off big. I think investors liked the beat on revenues, cash growth, buybacks, and the fact that WNR is almost in a break even position on RINs. GLTY