These are long term, won't mature for years. Unless you envision oil would still languish under $90 5 years from now, EXXI won't have much problem, as indicated by its SP rating which is B+.
Capital One securities cuts target price by $2 to $16; rating equal weight
Canccord Genuity cuts price target to $19 from $20; rating buy
EXXI has 70% productions hedged for 2015. With sub-80 oil, most of OPEC members are producing at a loss, this clearly can't sustain long term.
I have a tough time buying into the notion as put forth by Hero's CEO that Hero's current woes are the result of "cyclic downturn". If HERO was having a rough ride because of a recession like 2009, that would've made sense. But look around, American economy is at the best it's been in years, why are HERO and its peers doing so poorly? I'm of the opinion that some fundamental sea change has altered this industry permanently. And when not if the next recession really hits, it may well spell the end for HERO.
With KWK, all pumpers would eventually become dumpers. To ensure your financial health, make sure you dump KWK early and dump it often.
I find any customer would factor in MBII's revenue recognition error into their buying decisions a bit of stretch, it's as credible as not buying Samsung because of their legal woes with Apple. Consumers base their purchase almost exclusively on the product's performance and price, anything else is triviality. When you visit its employment page, you'd see clear signs that it's a company that's growing by leaps and bounds. The consensus on its projected y-to-y revenue growth is 120%. Once the revenue recognition problem is rectified, this stock clearly has the potential of being a multi bagger, IMHO.
I did find all the breathless excitement over a few sub-1k bpd wells quite baffling. Clearly someone took the op to unload this POS amid all the BS talk.
The best I did was 3.08, 2000 shares. Even though I'd like to say the night is still young, I'm not entirely sure if the shareholders are as panic-stricken as yesterday. We'll see.
BV is actually 3.25 (65M/20M). Yahoo finance is wrong on the number of shares outstanding, it's 20M, not 24M.
IHMO, as badly as MBII has performed, shorts don't have a compelling case to stay short at this point. Unless outright fraud is involved, all the bad news are pretty much out by now.