Vin: Well, I DO still have my 5 MLPs and LNCO but I was referring to the drilling sector. Rather you went towards NRZ than NCT. Remains to be seen how the spin off will affect their dividend, as well as SNR. Better still, perhaps NYMT. I just increased my position there by 50%.
Vin, I owned NAO near the IPO in the very high teens and only held it long enough to collect the first divvy and a very small profit. Right now it's probably one of the better plays in the oil patch but the better of what? I'm out of everything in oil except NADL (oy!) and won't revisit the sector till things get a lot clearer.
secondary I've been waiting for over the past few weeks: Tomorrow early is the time to buy. I will.:
NEW YORK, Nov. 20, 2014 (GLOBE NEWSWIRE) -- New York Mortgage Trust, Inc. (Nasdaq:NYMT) ("NYMT" or the "Company") announced today that it plans to make a public offering of 15,000,000 shares of its common stock. NYMT also expects to grant the underwriters an option to purchase up to an additional 2,250,000 shares of common stock. UBS Investment Bank, Deutsche Bank Securities, Barclays, RBC Capital Markets and Credit Suisse Securities (USA) LLC will serve as joint bookrunning managers for the offering. Keefe, Bruyette & Woods, Inc., a Stifel Company, will serve as lead manager for this offering
rogers, I'm sure Turbo will chime in on NAO which he's up on. My only concern currently (I sold mine a few weeks back) is the still unfolding energy story and more to the point the oil service companies that work with the offshore drillers, which we all know are performing dismally. Eventually it has to get back to the service companies. JMO
One aspect on NADL not mentioned at all was that Exxon today announced the West Alpha will be working somewhere for them, at least in the short term. Looks like they're (XOM) locked into the charter.
ed: Other than some minor glitches it's a pretty decent laptop. Best Buy will have the Acer Chromebook on sale Thanksgiving eve and 11/28 for $149.00. I'm going to get each of my 4 grandchildren one for the holidays.
Some of my best investments were made during the real estate and financial crisis of 2007-. Those were deeply discounted preferreds that sold down almost 50% from their face value. All have recovered to and above face and are paying me upwards of 12-15% on my investments. LGCYO looks interesting, as it has also sold off in the past few months along with most oil stocks. Selling at a 12.5% discount to face and yielding 9.13 at today's price ($21.90). Pays monthly ($0.1666). I will put it on my radar but still want to watch anything related to oil for a while longer. Good find respectful. Thanks for bringing it up. If you want some more information on it go to quantumonline.
You beat me to it mark. I'm waiting a while till Schwab gets my number correct. The past spin offs took a few months.
putting a sell in for 1/2 my NADL @ $4.70. Sadly it didn't go through so I've nothing left to do but wait for it to break $4.00 and buy some more to average down. Problem today is twofold. Russia's continuing bluster and aggressive moves and the fear that NADL will have a hard time getting work for those idled rigs and will have to cut or suspend their dividend. I wouldn't feel so bad if it was the former as I'm prepared to wait it out, but the latter would not be pleasant.
Eliasek M Grier, who is Chief Operating Officer at Prospect Capital Corporation, bought 5,000 shares at $9.56 on Nov. 12, 2014. Following this transaction, the Chief Operating Officer owned 197,196 shares meaning that the stake was boosted by 2.6% with the 5,000-share transaction.
Barry John F, who is Chief Executive Officer at Prospect Capital Corporation, bought 110,000 shares at $9.57 on Nov. 12, 2014. Following this transaction, the Chief Executive Officer owned 4.5 million shares meaning that the stake was boosted by 2.49% with the 110,000-share transaction.
Stark Eugene S, who is Director at Prospect Capital Corporation, bought 1,512 shares at $9.40 on Nov. 12, 2014. Following this transaction, the Director owned 21,000 shares meaning that the stake was boosted by 7.76% with the 1,512-share transaction.
I could never understand AWLCF. Owned it earlier in the year, collected one divvy and sold at a small profit. Still think, at it's ridiculously high yield and the fact that it has only 2 rigs the risk is just too high for my taste. Of course this is from someone sitting with 7k shares of NADL :~(.
By Naomi Christie - Nov 13, 2014
Add oil shippers to the list of winners from this year’s collapse in crude.
The price plunge has spurred China, the world’s second-biggest importer after the U.S., to accelerate bookings of oil cargoes. It will also shave almost $20 billion a year in fuel costs across the maritime industry if prices that dropped 18 percent since last November hold around current levels, according to data compiled by Bloomberg.
While the oil slide is hurting nations from Saudi Arabia to Iran that depend on energy for revenues, companies including airlines and cement makers are benefiting as their fuel costs decline. Ship owners serving the industry’s benchmark Middle East-to-Asia trade routes are reaping the best returns from charters in years as the slump drives down the industry’s single biggest expense.
“We’ve seen the Chinese buying a lot from the Middle East and that’s really let rates cook,” Erik Stavseth, an analyst at Arctic Securities ASA in Oslo whose recommendations on shippers returned 15 percent in the past year, said by phone Nov. 11. “With oil prices low going into winter, that’s likely to continue.”
Full article on IV MLPs board.
rb: I'm out of SDRL for a few weeks so saved a few bucks. Still with LINE at a 50% profit but have LNCO in my IRA so if I sold I wouldn't be able to take advantage of a 5 figure loss there. Right now I'll hold because I feel almost all of MLPs and oil related stocks will bounce hard if oil starts to rise again. Of course I thought the NADL deal would be done already :~(.
Mark, They still are not ready to announce their dividend policy but I would find it hard to believe that the total dividend between SNR and NCT would be less than NCT's recent payouts.. I'll give them time to prove they're unlocking additional value from the spin off but if total divvys come in less than NCT's I'd be very disappointed, and as you know, it's hard to disappoint me with regards to NCT.