“The number of authorized [new] shares per company is assessed at the company's creation and can only be increased or decreased through shareholders' vote.”
if indeed Gary is actually visiting the ATMs. Treasury shares are separate, and they would not be included in shares traded. ”Treasury stock is often created when shares of a company are initially issued. In this case, not all shares are issued to the public, as some are kept in the company's treasury to be used to create extra cash should it be needed. Another reason may be to keep a controlling interest within the treasury to help ward off hostile takeovers. Typically companies will, for many reasons, keep a portion of the shares in their own treasury.”
Treasury shares do not dilute common shares. “These shares …should not be included in shares outstanding calculations.”
Newly issued stock has to be registered with the SEC .There would be a record of this if Gary had issued new MHR shares.
We do have acccess to up-to-date info on Gary’s trades. Nasdaq states: “The insider filer data counts the number of monthly positions over 3 month and 12 month time spans. Summary data is calculated daily, using the most up to date information available.” It doesn’t say over the last 3-mo quarter. Note Gary’s trades in August are listed.
Form 4 is a U.S. SEC filing that relates to insider trading. Nasdaq states: “The Form 4 must be filed by a reporting person before the end of the second business day following the day on which the subject transaction has been executed. A reporting person is defined as any officer and/or beneficial owner who is buying or selling their company's stock.”
Correction & Update: Nasdaq lists the following trades attributed to Gary’s in 2015: Novavax, where he is a director, sold 6001 shares on Aug 13 and sold 20,000 shares on Aug 24. The only other 2015 transactions listed under his name this year were buys: 166,666 shares on Jan 23 thru Greenhunter Resources and a non-direct acquisition of 94,862 shares on Mar 30 thru MHR. As of Mar 30, his remaining shares were 3,801,365.
Also the shares held by institutions were for quarter ending in June.
Update: as reported on a recent 13-D filing, the form for beneficial owners, dated Jul 31, Relational now owns 10,204,080 shares constituting 4.90% of the outstanding Shares reported on MHR’s Mar 31 Form 10-Q. (A filer must promptly update its 13D filing to reflect any material change, including the acquisition or disposition of 1% or more of the class of securities that are the subject of the filing)
However, I’m not sure having sexy online friends makes him a womanizer. Now if he has a girl in every port to whom he is pretending to be faithful, that makes him a womanizer. Let’s hope he devotes enough time to business!! Just my ‘immediate’ thoughts on the subject.
With one keystroke you have instant fb friends. He probably gets a lot of friend requests from women attempting to sell themselves to a rich bachelor. And he’s had plenty of time to accumulate friends since he’s been a member of fb since 2009. (cont below due to Yahoo)
I think It only dilutes the shares to the extent of any amount over what had been planned to be awarded to James Denny who is retiring effective as of Aug 12. His last restricted stock award was worth $1,247,000 - don't know how many restricted shares that represents. Also from an economic standpoint, the grant of two million shares of restricted stock to Yankowsky will vest in 1/3 installments over the next 3 yrs so it’s not an expense for MHR that will hit all at once. Would this also be an added incentive for Yankowsky to see the stock grow in value as he is granted/vested in the stock at its subsequent value on the 2nd and 3rd year anniversaries?
Attorney Steven R. Harmon of Morgan Miller Blair asserts that restricted stock causes less dilution than stock options. This occurs because companies must issue more shares when creating options than when creating restricted stocks of equal value. Due to this fact, Harmon argues that restricted stock proves more attractive to companies by helping maintain a higher per-share price and return average.
“Natural gas production across all major shale regions in EIA's Drilling Productivity Report (DPR) is projected to decrease for the first time in September. In each region, production from new wells is not large enough to offset production declines from existing, legacy wells. Given the substantial drop in rig counts since 4Q14 in each of the DPR regions and growing declines in production from legacy wells, productivity increases are less able to completely offset lower rig counts and legacy-well declines.” From EIA report dated 8/26/15.
As production falls, prices should rise a bit until producers can make a profit by drilling new wells.
Perhaps Blackrock can be credited for the latest selling; they now hold 5,665,164 shares, down from 12,611,785 EOY ’14. Aristeia Capital had sold all of its 14 MM by Jun 30. Vanguard Group has increased their holding from approx. 12.1 MM EOY ‘14 to 13.1 MM currently. Other “new” top holders are State Street with 18.5 MM and First Trust Advisors with 6.3 MM. Relational holds 20,729,080 after sells in June of 8,830,193.
They are acting responsibly if late bidding is taking place that will bring in a higher bid. They stated in their Aug presentation, “Sale of Eureka Hunter: In final negotiations with top bidders.”
a company valued at 15.5 billion where COO’s pay is over $1.6 million, compared to avg pay of the four principal positions at MHR of $465,403, unless he felt there is strong possibility for positive developments at MHR? Of course we don't know what Yankowsky has been offered but even Gary’s pay (salary + bonus) is less than pay at Chesapeake.
Mr. Yankowsky commented, "I am honored to join an exceptionally talented Magnum Hunter operations team. I look forward to utilizing my extensive Appalachian Basin experience to further drive improved production performance and cash cost efficiencies on the Company's attractive acreage position."
Gary commented, “One of our primary goals as we rebuild our Company has been to attract high quality and experienced personnel. In order for us to efficiently drill and develop our vast Appalachian leasehold acreage position during this low commodity price environment in a manner that expands EUR's and at the same time reduces finding costs, we must have this type of talent in-house…”
Okay, I googled Gary Evans hunts leopard and the picture came up. I see he was hunting in S Africa where guided hunting occurs. Perhaps laws have gotten stricter since 2011, the date of the picture. Anyway, I don't decide against investing in a stock because a CEO hunts wild animals.
To those who have been upset about hunting leopards, I just viewed all of Gary’s fb photos and there is not a picture of him standing over a killed leopard. I also read no posts about him hunting leopards.
On September 24, 2014, Evans announced to the world that Magnum Hunter had discovered what is still the largest producing shale well in history. It’s a gas well in Tyler County, West Virginia, and the initial rate of natural gas production was 46.5 million cubic feet of gas. On a per-barrel of oil equivalent, that would be about 8,000 barrels of oil per day.
We believe that’s the future for the U.S. and we obviously have more control over that. We think industrial demand, chemical demand and LNG demand will drive natural gas prices up.”
In 2005, Evans sold MHRI to Cimarex for $2.2 billion. He took a few years off, and then took over at MHR in 2009.
Throughout a two-year period, MHR liquidated over $700 million of their oil wells while prices were at their peak, raising abundant capital that would promptly be turned around and invested in natural gas wells, specifically in the Marcellus and Utica shale formations of Ohio, Pennsylvania and West Virginia.
MHR has a technique of drilling multiple wells from pad locations, a technology where one rig site can drill multiple well bores from the same proximity. He believes oil producers will also eventually have to develop new technologies and strategies to drive per-barrel extraction costs down.
Evans big gas bet is based on more control, less overseas competition and growing domestic and international demand. Even President Obama has been advocating natural gas as one of the cornerstone energy sources in his “all of the above” plan for America’s energy future. Dow Chemical announced in February that it was investing $6 billion in new Gulf Coast manufacturing plants, laying a big bet that abundant natural gas will allow it to save money over offshore facilities. By Thomas Miller of "Oil Price"
Very entertaining…a music video of Rod Stewart… many pictures of his 8-yr old daughter…a picture of his Father’s Day meal from his older daughter…some very funny videos: “Who’s on first” etc… a video of a child with cerebral palsy finishing a triathlon. When the finish line was near and the cheering fans loud, Bailey Matthews, an eight-year-old born with cerebral palsy, let his walker go. And he ran. Another video shows a reaction of a dog after being rescued with her puppies - tears coming from her eyes.
An inspirational photo reads: “No matter how educated, talented, rich or cool you believe you are, how you treat people tells all. Integrity is everything.” And another: “10 things money can’t buy: Manners, Morals, Respect, Character, Common Sense, Trust, Patience, Class, Integrity, Love.” And “A Cowboy’s Motto: If it’s not yours, don’t take it; If it’s not true, don’t say it; If it’s not right, don’t do it.”
Along with his fishing adventures there are regular trips to the Ohio/WV border. To a picture of him rafting and mtn hiking in Aspen, his mother comments, “You do enjoy your life! You work hard and play hard.” Yes, his fb likes include sexy ladies probably half his age. I guess that’s pretty typical though for a single guy. I didn’t find a picture of him with several female escorts as someone on the message board mentioned. My impression is he is a pretty nice guy. BTW, he’s been on the Board of Directors at Novavax for 13 yrs.
Nasdaq lists 778,639 trading at a low of 0.7342. If any of these were traded higher, wouldn’t it have been listed in another order? Otherwise, how does Nasdaq decide whether to indicate the high or low for the entire order?
Think or Swim shows 552,236 shares traded at both high and low of 0.73 but doesn’t show trading for the remaining 226,403 shares. What source do you use?