You don't see a hedge fund pouncing on 9.9% of EOG, now do ya ?
Ironically, it was IBM that rejected both Ross Perot and Bill Gates for their services and software ventures. Now, the laggard and late-to-party IBM is clinging to software, cloud, and services....to survive.
The share buy back is a sign of weakness, especially since this stock is no bargain with a book value below $15 per share. Try using basic math, Virginia!
billions and billions
keep fracking the Bakken, and flaring the gas, that's what you do best
EOG and many oil stocks trade a huge premiums to book value
SFY is one of a tiny fraction of energy stocks trading at a Discount to book value, large discount, I might add
Didn't you forget something? The Bag?! a bagholder
Anyone here is a bagholder, for now.
Why don't they refi the June 2017 note with interest rates at record lows ? Extend the due date for years and get a lower rate ?? My guess is that note is link to Louisiana assets.
Maybe you three dimensional dupes can print a higher book value to support your bubble ?
It's laughable the damage done here to the $97 cost basis patsies!
Just curious if the SAKA Indonesia deal would taint, slow down, or stop a takeover ? Has top overpaid management found a way to protect themselves for years to come because of SAKA cash injection ? Is $24.05 book value still the right dollar amount with oil and natural gas trading where they are ? I realize book value doesn't get marked to market on a daily basis. It's annually calculated, and conservatively. Terry Swift put Louisiana up for sale in October 2013. One year later, not sold, and hydrocarbon prices have declined. His timing couldn't be much worse. Baker Street is the catalyst for positive change here, which means a much higher stock price....eventually. At the very least, 9.9% of the 'float' is no longer in street accounts subject to more shorting. Long should demand physical shares, and/or, put automated sell orders at $20+ on their holdings. This deprives shorty of more ammunition to hurt longs.
Swift Energy has thousands of acres in the Eagle Ford and is trading at about 30% of book value. EOG trades at a huge premium to book value.
I can't believe Buffett read the annual reports for 45 years and then decided to buy at a very bad time.
But look on the bright side, Ginni got into the formerly 'all boys club' at Augusta National Masters country club, at you bagholders expense!
EOG stands for Exit Oil & Gas ? You won't see $118 bids again for years. The business model of borrow, drill, lose, isn't working anymore. Large market cap here exceeds book value by a factor of two (2). LOL