I like him but he won't sign off on Keystone until he understands how it would effect global warming ....really ? He said this at his Christmas Press Conference .
On the dividend my experience is when a stock is beaten down this far as PGH is in this short of a period of time ... almost 70% which would need about a 275 % move up to get to the old yearly high area a dividend cut would result in a relief rally . It is a good thing they completed all the targeted asset sales when they did . Companies having to sell reserves now are going to get reamed . Let's just hope the lower debt doesn't lure in sharks I know this is a good company and I would not like to loose the upside potential in the PPS and distribution when the market for gas and oil rebounds .
When I bought into this company oil was $25 a barrel years ago . Now at one time NG did climb up to the teens after that . Then we had this crazy run up to over $100 a barrel . They still have all those old conventional projects that were profitable at $25 . They have been in business since the 50's and survived $10 a barrel oil . Given the prudent management that has kept debt levels low and hedged production survival should not be a issue . However expanding Linbergh if the price per barrel should drop below $55 would be questionable with what I know today . Anyone have any comments . Production is suppose to increase next quarter and every quarter ahead through Jan 2018 that LInbergh is ramped up based on what I have read trippling current levels that have been already showing improvement quarter over quarter . LInbergh is set to start contributing any time now beyond the tests phase that has been more favorable then the best hoped for . I have never see such selling in anyone sector but I believe PGH is way oversold . I wonder what they book value is now based on $60 oil my rough guess would be about $7 a share . Am I way off ?
You will find the statement about the dividend is on every single dividend announcement they have ever made . I would not read anything into it about the dividend being reduced next month . They keep announcing their committed to a dividend . I would like to see insider buying .There was a nice buy in BTU last week
Pengrowth Energy Corporation Confirms CDN $0.04 Cash Dividend Payable January 15, 2015 and Provides Details for Its 2015 Investor Day
4:05p ET December 11, 2014 (Market Wire) Print
Pengrowth Energy Corporation (TSX: PGF) (NYSE: PGH) today announced that its January 15, 2015 cash dividend will be Cdn $0.04 per common share. The ex-dividend date is December 18, 2014. The dividend will be payable to all shareholders who hold Pengrowth shares at the close of business on the record date of December 22, 2014.
The dividend of Cdn $0.04 per common share is equivalent to approximately U.S. $0.035 per common share using a Canadian/U.S. dollar exchange rate of Cdn $1.00:U.S. $0.868. The actual U.S. dollar equivalent of the dividend will be based upon the actual Canadian/U.S. dollar exchange rate in effect on the payment date, net of applicable Canadian withholding taxes for U.S. residents who hold their Pengrowth shares in taxable accounts.
The above dividend has been designated as an "eligible dividend" for Canadian income tax purposes. Pengrowth's dividends are also considered "qualified dividends" for U.S. income tax purposes.
Pengrowth's Board of Directors and management regularly review the level of dividends. Pengrowth's Board considers a number of factors, including expectations of future commodity prices, capital expenditure requirements and the availability of debt and equity capital. There can be no certainty that Pengrowth will be able to maintain the current level of dividends and dividends can and may fluctuate in the future as a result of the volatility in commodity prices, changes in production levels and capital expenditure requirements.
It is no wonder SUV and Truck sales are up have you ever looked to buy a used one ? Almost everything on the market is either 14 years old or if newer has over 150,000 miles on it . Many have over 200k . People that need trucks have had them they just kept them longer and if you need dependable transportation it is way past time to buy a new one . The fact gas mileage has greatly increased in the newer ones is a factor also though they are 50k for a loaded crew cab more if you get a diesel . Very sad here I am overweight oil , didn't see this happening and count on the income here to survive . Flat scared and just holding on frozen in my tracks . It hurt to see oil break $60 today . Praying this flushes out and ends the selling and the price goes back into the 60's .
First I heard of it I was more concerned about their investments in the energy sector . That is their third largest investment and their largest is in NG with the old CHK CEO American Energy with Aubrey McClendon . I had been wanting to add to my monthly income afraid another investment in energy that pays monthly might cut back their dividend at some point if Oil goes below the $60 area . This does not look like a safer spot to invest right now . MIght get a pullback if patient . I do hold shares not just kicking the tires .
nto every life a little rain must fall . I thought I was bottom fishing some bargains and instead it looks like I bought in near the top of a 15yr bull market in commodities . Praying oil stabilizes they talk about everything being down 40% . I wish I would of used stops I have lost 60% on my investments that were set up for 2015 and aquired between June to August . I bought a basket of perceived value in VALE , PGH , PKD , and BTU and am in a world of hurt . Still trying to figure what happened VALE and BTU were new to me but I have been in and out of PGH and PKD for years and never played them this poorly . I usually take my lumps and move on but I am just dumbstruck especially on PGH . Best case I lost a great chance to make some nice coin at these levels and have dead money for a few years . I envy those with discipline who have been waiting for a confirmed bottom or if they were mistaken let themselves get stopped out for reasonable losses . I have always respected management here and still do what has been happening is beyond me . Those with dry powder and the guts to average in with at least a 3 year horizon should do very well . I have to laugh at myself I was dead sure when I bought in at $6 this was going to break out to the upside . Thankfully I did not average down at least like I did in PGH . To me if the economy was picking up demand surely would also followed by price . I knew conservation and renewable energy production had been moving forward but figured growth since Japan lost her nukes and the developing countries had a growing middle class wanting cars , heat and electricity prices could only rise . Imagine if we didn't flare so much Natural Gas .
I see the same out of the Street all the time and of course he pushes his picks and tells you so on the air . I will say Boone PIckens has never done anything but make me money when I listen to him . He went in to buy PVA years back when oil was down . I decided to pick up some shares in PVR a LP of the PVA properties because of it and did very well . I ended up selling when they were taken out and rolling into BTU under $10 and taking the profits and putting them in here to capture back the income I lost . Hoping Mr Pickens is right and not just clouded by his immense holdings in the sector . He is a great Investor and has great moral values you can be sure he is calling it as he see's it . He is not a person who would be telling others to buy while he is selling his shares into any demand . So far he has not been wrong on a single call I have paid attention - nobody is right all the time ....and that worries me along with being down 40% on my principle here and counting on the dividend every month to pay my Utility bills as I am retired along with many of the holders of this stock . Of all my holdings because I know so many others who are retired hold large chunks it hurts me to see selling like thisas they will never earn the principle back or find a source of steady income more then likely . I know many who bought 20k back when this was $15k . Surely if you sell your shares first down here for $2.80 in 31 days when you go to buy them back they will have gone up to $4 . Most the people I know cannot afford to double down then wait 31 days and sell their first shares to get the tax loss .
Sentiment: Strong Buy
I have read it and it caused me to invest all the way down . This is pure panic and not rational selling . I have to believe this company can survive even if they had to back out or stop expansion at Linbergh however , I do not think that will happen . The only reason to sell down here is if you believe it will and the conventional assets that kept the company afloat since 1955 will not work here where they survived $10 oil in the late 90's . They have paid out over $40 in dividends to shareholders that bought and held from their IPO . I came in a little later after the shares fell to $9 but have held a small amount all along . There was a time when the shares paid about $2 a year . The only other reason for selling like this besides the oil price drop fear causing Linbergh to not be economical is institutions doing tax selling due to high profits made elsewhere . I sure wish I would of stayed away at this point and from reading this board nobody saw this coming . Boone Pickens is still saying oil will be over $100 in the next year and a half and will not go under $60 which would still be profitable for Lindbergh . The US dollar is climbing against other currencies again and PGH is hedged in Canadian dollars which both seem to work against US holders and PGH . I thought it was blood in the streets when we dipped under 4 bucks . This is historic and never has the stock gone this low . I have seen it once before in TSO which fell to $1 then ran to $70 ( totally different as their a refiner and retailer in oil ) but they had allot of debt at the time PGH has a positive book value even at $50 oil and I just don't get the fear it is priced for the dividend to be omitted and soon will reflect default which is not even close to reality in my mind . Can anyone who believes this explain with numbers and facts ? I would think if they had to sell even now the company is worth $5 a share with the debt it has and a discount necessary to wait till the price of oil rises again .
I like your average cost better then mine . For the first time I am scared but these guys have had a decent track record in my mind . Short day today skewed items this is one time I will still be happy if it bounces Monday and I miss the easy money . I heard $40 oil discussed today which I never believed could happen as I listen to Boone Picken's . I wonder if his holdings tainted his veiw and if he is selling ? He is a smart guy that has made me a few bucks listening too . That might get whiped out but were still not under $60 which he said would be the floor and would make PGH a screaming buy today .
I have owned this since the 90's alone with other E and P's and these guys have the best drilling record of anyone I know of including my shares in COP , MRO and DTE which make allot of money on E and P though a Utillity . They sold NG assets at the top , remember how Bush visited with company officials during his Presidency because they were the perfect example of deregulation working .
I agree I am glad I invest for the long term . S &P still has a strong sell on AA even though they have moved up their fair value to over $22 a share and their target price up to $14 from $11 . I did get cute and did some tax selling and ended up out 40% of my position while it ran up $4 a share .
He was buying 26k shares as you were thinking this . They are shallow gulf drillers not the ones being cut out that have high lift costs out in deep waters like RIG . I bought to early also and am in the high $5's for a cost base . Looking for something to sell to buy some more down here . Never lost money on Parker long term and always believed in the Parkers and management here . Always straight shooters , not saying they execute perfect but they do what they say and take what comes .
Sentiment: Strong Buy
These guys have been pretty straight forward though I must admit I did not understand the asset sales that well and as shareholders I am sure we were pimped by buying high and selling the assets low . However we now have a lean company going forward with plenty of NG , and Oil assets going forward that are recoverable at costs lower then many competitors . I remember when the shares tossed off over $2 each per year . As I say over and over I have some shares which I have received over $38 in dividends on and paid $9 for . Let us hope management does as well over the next decade . I believe here at $4 before they ramp up the new steam project is a good time to build a position . Shares will be in high demand when the revenues ramp up late next year and early 16
Sentiment: Strong Buy
today was another great day where else can you buy $!0 of monthly income for $1000 now with appreciation potential ? We should actually fear someone coming in to take PGH out at just below book now instead of being afraid of loosing money . Oil is not going to stay low the world is used to higher pricing and it costs big money to keep building out the infrastructure . Never has and never will stay the same price or go down long term just like the market .
Sentiment: Strong Buy
I have a basic education in accounting and finance but I am not that sharp . However this company is pretty transparent . They have no draw on their credit lines and 1.25 billion all untapped in their lines of credit plus over 38 million in cash . They have unleveraged their balance sheet . It is just like they said on the CC they truly are in the best shape of the past decade . Starting late first quarter 2015 cash flow will start ramping up due to the new steam operation . They are even going to have pipe for transport . later in the year . They are profitable with oil in the mid $50's on the steam and in the high twenties on the conventional . It was interesting to see some consolidation starting to take place in the drillers and E and P should follow soon . Of all the areas of the World to source product from Canada has to be one of the most stable . We had a huge glut today in production however there are so many producers with higher raw costs that would be effected before PGH the rough period could actually cause good things to happen long term for them when prices recover . Common sense makes me believe this is all the speculation working its way out of the market . Barclays are no light weights and they upgraded Pengrowth a few days ago to equal weight . We are right at the yearly low now if we bounce we could have a nice little ralley before the end of the year , then some tax selling the last week with a nice January effect . I do not have allot of resources but if I can I plan on scraping together enough to buy a few hundred more shares . The nice thing now a days is brokers do not charge for odd lots and the fee's are very low compared to when we traded peices of eight and brokers made their money on recommendations churning trades . Days I miss when I had a good broker . God Bless .
ps this is a tough business their is risk but I have no problem recommending this after looking the books over to the best of my abillities .
Sentiment: Strong Buy
We all have that fear though they have said they can pay the dividend and free cash flow will increase in 2015 so relax . I think they have pretty much cleaned up the books and sentiment is changing on the price of oil already going a year out or so . That is allot of shares I have nowhere near that amount but I am disabled and have enough to pay my internet bill each month . I depend on this income very much . I truly appreciate people only providing facts . In the Earnings Conference they stated they were fine with the dividend and expected free cash flow to increase next year thanks to their hedging program which is paying off . Good luck to you ps I learned that hard way not to put to much into any one stock . For those worried it looks like were making a base here and if you look at the history of the share price it is not unusual for it to move this much in a year . Some of the other investments I research and like such as JCI , COP , and BWA have had harsh moves lately and other years especially since the uptick rule was taken out . The stocks are played up and down every year .
The buy on the 17th was golden as I switched out of CCL as the Ebola scare had it in a downward spiral and caught this on a upswing . Still want to believe but I do believe there is a better chance of seeing $60 sooner here . On weakness those looking to put money to work might do well looking at CCL as it climbs back to where it was a few years back . It does pay a nice dividend in Sterling CUK or US dollars CCL . They are expanding into China , And have nice holdings in AK and Europe . as well as the Islands and Mexico . This is the JCI board and I do see growth in the battery division as well as building services . At peak cycle dividend increases and buy backs are always interesting as are spins .
http://worldcleancoal.org/ I was surprised to see one of my Utilities that owns coal mines and did own transportation from the mine to their plants sell them off recently ( TE ) They had started to pioneer CTL in the 90's . They have switched to LNG and actually have a terminal with pipe to land in the Gulf of Mexico off Tampa and recently purchased NM natural gas utility . The terminal is neat transfer station that sits under water until needed to accept a shipment that was pioneered in the North Sea originally . Everything cycles and with the large deposits of coal it will be utilized for steel making as well as energy . I found this a good time to initiate a position and recently picked up some BTU under $10 for the dividend and a long term investment . I am taken back by the slide in energy lately and thus have left allot of room in positions with it being so early in the next cycle though I have recently noticed a few very smart investors re-balancing positions into the decline also . I did very well in coal the past 15 years in a MLP that was recently taken private and wanted to continue to have exposure . While the MLP's performance was muted the past few years the dividends over the ownership period alone made it a worthwhile investment . They had also gone into midstream NG assets to diversify . However coal has many applications even outside the realm of a energy source being used in chemicals , fertilizers and other needs . With steel rebounding currently it only makes sense there are better times ahead for BTU .
All they keep talking about down here in the States is that with the new Rep Senate Majority both coal and energy will see a reprieve . I would have to think there are some income investors that would like a monthly payer at these prices under book value . I think it was last listed at $5.78 before the 2p reserves verified at Linbergh worth about a billion dollars .