I think we all know most of the failures will be in expected countries like Greece, Cypress, Italy or Spain. I don't think we get hit too bad unless a big bank fails.
option I just though of is they might want those share to do an acquisition. otherwise I think they would have stated it was for a stock split.
it should be a train wreck in slow motion. I have plenty of cash to do some buying if it hits the market next week.
You shouldn't be afraid of SLCA going lower. This weak period in oil is just a short term problem in a much longer American Energy Revolution. If your buying for long term, then you should be welcoming this buying opportunity especially if it get back to $40. I know most people on these forums consider long term to be overnight. If you in for the next few years then this is a good opportunity.
Clearly you need to learn where to find the Rig Reports and how to read them lol. They report all rigs world wide by region, by type and by each individual basin. Earnings are past looking. they only tell you what happened a month or 3 months ago. The rig report is released every Friday and shows you what is happening now.
Their cost per barrel is less then $60. That isn't a high cost producer. The fact that they have far higher realized prices for Oil, NGL and Nat Gas then OXY makes it the more attractive of the 2. I just don't like that OXY hosed them with 5B in debt. OXY's cost per barrel is about the same as CRC, but they have lower realized prices. CRC also doesn't have to worry about the chemicals and pipelines dragging down their earnings.
If you havent been through a spin off before, usually they both go down as people sell one or the other and keep the one they like most. Usually a good time to add to the company you like best. Personally i plan to keep both. CRC is good valued growth company and OXY can continue to unlock more value.
Using $90 for the price of oxy to work out CRC's valuation. Each share of OXY would give you .4 shares of CRC. That would attribute $36/share stock price to CRC. CRC had net income of .48 in Q3 that would extrapolate to about 1.92 a year in earnings. CRC had net income of 188 Mil and will have 387 Mil shares outstanding. That would give CRC a P/E of 18.75 with a growth rate of 12%. The Market Cap would be 13.9B with about 4 to 4.3 Bil in revenues and 5B in debt. That puts it on very close par with PXD which has 4B in revenues, 18% growth and 2.66B in debt. PXD trades with a 26B market cap. This means that CRC should be able to trade at 20B market cap. That would put CRC at $51 dollars as a stand alone company.
They will have a lot of costs this quarter with the acquisition, the funding of the China expansion, and foreign exchange. I think it will scare people and give us a good chance to add more.
doesn't matter if it is confirmed as Ebola. We now are educated enough to know it is not caught by casual contact. The same fear wont be there this time.