Your ID isn't even 1 year old!?! Go back to where ever you came from.
I've been here and posted as a long... and I was wrong then.
Fortunately I was able to average down and will make money here. Which is what this is all about.
I stopped reinvesting the div and now I just take the cash and do something else. I got caught in the reinvest div #$%$ with this stock a couple years back and it "took to long" to come back up and average out... but I did make money. This stock is down 16% but the market is down 20%+ so I consider that performance ok plus it kicks out the cash I don't reinvest that I can do other things with.
Cramer has never been positive on this stock so this is just more of the same. He is a huge advocate of Baxter however so I don't know why he would be apposed if Baxter is interested.
Trainman!! Yes it will probably be sold back down. I was able to add at .50 and .60 to average down. Now I will definitely break even and there is at least a chance in Hell that I will make some money. This will bounce around for a while. Buy some now, wait to see if it retraces... and it will pull back at some point and add from there.
When you spout out ridiculous non sense it just eggs on the shorts... cause think every is a dumb as the statement you just made. They sold off A TON of acreage and production and you think its worth the same as it was at they highs WITH 100 dollar oil. Seriously!?! Long - and not happy about it, but its getting a little brighter.
Have they talked about any plans to address the stock price? a buy back to pump it up out of the penny stock world or any plans to expand with a new driver beyond turtles?
Thanks for responding.
Technically they could get an extension and hope oil prices rise over the next 6 months, which I think they will likely do. They will still have to sell assets to lower debt and find a way to be profitable at 50 dollar oil over the medium term (2-3 years) or there is no future even with a RS.
Last time oil was at 43 PWE still owned its royalties and 2 more oil fields and some additional products all of which have been sold.... so PWE is worth less now. Painfully long.
Says the guy with a username that's 1.5 years old. I see by your post history you offer nothing but garbage and bashing so #$%$ off.
I am buying stocks in custodial accounts for my children. I started a position at 55.00 which was definitely too early. I will add a little more here... then wait for tax loss selling and double the position. Lets see how it works out. gl.
SDRL and RIG... Too early. You shouldn't start accumulating until after one of the major off shore drillers files for bankruptcy (hercules or diamond offshore... there are a couple others out there still more likely to fail than sdrl or rig). You could also just play the servicers like NOV or HAL and get a small dividend with WAY less risk. As for the lessors. I was bought out of GLS when it merged with AER. I have recently sold out of my AYR position and I have this Paying 8% I am just hanging out.