Because this company was a spinoff there is no investment banking business available yet. Wait till they want to raise some money and they will come out of the woodwork.
Just got the annual report and proxy statement. In it they are looking for approval of a reverse split which is a bad sign.If it is approved it would not be good for stockholders imo.
I don't understand how a company that continues to show losses is considered to have beaten earnings estimates. Is this another Amazon that shows sales growth but never earns any money or can they eventually decide to cut spending and show a profit?
AS you probably noticed the dollar revenue from gas sales was way down but the profit margin was way up. This will eventually change when oil prices recover and refining margins drop. Then sales will be up and profits will be down. This is something owners of the stock will have to live with. But if they do a good job running the other aspects of their business they should be okay. Look at NTI which will tell you what refiners go through.
If the new regulations go through they have a 10 year transition period and who knows where we will be at that time. Nevertheless the market is trashing this stock as if it has already happened. Seems like an overreaction.
I think you will need a big red rocket in the engine room of one of their tankers to get this puppy to move.
No doubt averts chapter 11 but dilutes current holders. A lot of their problems stem from the bad acquisition they made last year. I think they will eventually have to be part of a bigger company.
The spread between coke and pot. There seems to be no rhyme or reason to figure out the spread between nymex and brent crude which some people rely on. The big oil companies still set the pump price and the small refiners have to go along.
There was a write up on PGN today which may account for the volume increase. It was fairly positive about the company's cash flow and its ability to withstand several years of reduced activity in the drilling business.It also indicated that the timing of the spin-off was a factor in the stock's performance and that there has been a lot of institutional activity in the stock. Worth a read if you have any interest in the company.
During the last few years we have had a great market for tech stocks and these guys have done nothing. what will happen when the market tanks. I think they should consider liquidating and give the stockholders something back.
The only reason they probably won't short it is because there is so little left on the downside and it might be hard to borrow the stock.