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Pengrowth Energy Corporation Message Board

  • sky_king_66 sky_king_66 Jan 30, 2013 10:59 AM Flag

    Sound Reasoning

    I learned long ago that some things make no sense when it comes to the stock market. PGH is one of those things. Insiders have invested in what I would consider a significant fashion at higher prices than we're seeing now. By my calculations, the company will generate enough free cash flow to cover the .04 dividend with .04 to spare each month even if the price of a barrel of oil drops to $70. The current yield is well over 10% before taxes. Some things just don't make sense. I thought it was tax loss selling last year, but now I think it's just programmed share dumping caused mainly by the oil/gas boom in the central U.S. I'm not going to bash management. Their plan seems logical and sound givent the current situation. I plan to add more at lower prices...why not. It costs very little. Barring something unforseen, I believe this is the most compelling valuation I know of right now.

    Sentiment: Strong Buy

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