Well you better tell the other top 10 drillers and energy MLP's cause they all pay dividends much higher than their net earnings per share. Called "free cash flow". Look it up and discover how most companies with net earnings of $2.00 pay dividends of $2.50-$3.00....LOL! And with no problems whatsoever!
Your post does not hold water. Take a look at BGCP. Company just reported $.13 cents earnings and they pay a quarterly dividend of $.14 cents. One year ago when the yield for BGCP was 13% and the stock was priced at $3.80 everybody was saying the couldn't and wouldn't pay their dividend. One year later, BGCP has not only paid all its dividends but the stock is up 84%, closing yesterday at $6.97 or a 20 month high!
I have this nagging sense I trust the global perspective of management as it relates to their recently increased dividend sustainability than your 'analysis'. The good news is we shall see soon and thankfully so the manipulators can be finally silenced. That PE of 7 ain't exactly screaming over valued!
The big money is bringing out all the stops and idiots to drive this stock down. In a month or less
they will be buying up a greatly undervalued company. This is how they get richer,scare the hell out
of the little guy. Waiting with great interest what management will have to say.