NG is trading today at $3.09, the highest level in four months. PQ has some gas hedged in 2015 from $2.89 to $2.97, where they can presumably make a little money, so you have to be mildly encouraged with the trend here.
Comstock Resources Inc (NYSE:CRK) was downgraded by KLR Group ( ) (analyst John Gerdes) from a
"buy" rating to an "accumulate" rating. They now have a $5.00 price target on the stock, down previously from
$7.00. 17.1% upside from the previous close of $4.27
Go to the EGY website and sign up to receive notifications of filings. How do you people have money at risk and rely on Yahoo Finance for your intelligence? Oh, that explains 95% of this drivel.
Derek Macpherson, M Partners (5/13/15)
"Klondex Mines Ltd. reported Q1/15 financial results which we would characterize as decent considering the company's ongoing ramp-up but were a slight miss relative to our estimates. . .earnings per share came in ahead of estimates as the result of the positive CA$9.5M foreign exchange adjustment in the quarter. . .partially offset by higher cash costs and general and administrative expenses. . .we are reviewing our estimates, but our long-term view is likely to remain unchanged."
Where is that TB announcement? We haven't had the front month at these levels for what seems like a long time.
Form 4 filing. Shorts furiously phoning Houston.
Technicians will note we closed above the 20 EMA which my chart had at $2.35 today. Bullish!
No I did not, but the delays at getting TB on-line have clearly played into their hands. There is a razor thin margin for operational error going forward and this has become almost a binary bet on natural gas prices.
Some early heat forecasts for the East Coast and parts of the Midwest for the back half of May are supporting NG prices and causing a little short covering by the commodity's traders.
A downward EPS revision by Stifel to $9.75 for 2015 and AAL is still trading on close today at a PE of 5. Is this an efficient market, or what?
By Ben Levisohn
Stifel's Joseph DeNardi and Sawyer McKelvey explain why the future is looking bright for American Airlines ( AAL) despite disappointing revenue numbers that lag the likes of United Continental ( UAL) and Delta Air Lines ( DAL):
Management continues to expect 2Q15 consolidated PRASM to decline in the 4% to 6% range y/y, however it is now projecting its 2Q fuel price to be $0.10 higher than previously expected and raised its 2Q15 average fuel price per gallon guidance to $1.94-$1.99 (from $1.84-$1.89 given in the company's April 24th investor update). Due to the increased fuel price assumption, management is now expecting a 2Q pre-tax margin of 17% to 19% (previously 18% to 20%). As a result, we are lowering our 2Q15 EPS estimate $0.15 to $2.82, and reducing our full year 2015 EPS estimate to $9.75 (from $9.90)...
We currently expect a 3% decline in PRASM for 3Q compared to a 5% decline in 2Q with the improvement largely the result of a more favorable y/y comp as 2Q14 PRASM increased 5% vs. a 1% increase in 3Q14. While American is likely to lag its peers in PRASM performance over the next few quarters as Dallas and LatAm remain PRASM dilutive, it has the potential to outperform in 2016 as y/y comps improve and the pricing environment in Dallas strengthens.
You could have sold July $2.50 calls and been paid $0.15. I wrote against my total position today and got $0.12 and $0.15. The 2Q results and call will come after the July calls expire, letting me participate in upside from better 2Q results, I hope. If the shares are called away for $2.50, I'm happy on a total return basis.
We heard on the call some attractive sounding IRR's with their new strategy ishould commodity prices elevate a bit more, but the cost structure, now in the basement, won't remain static. Service providers will want to recover too. You need to be able to hedge attractive margins, but none of that can be done to aid 2015 and 2016 is a toss-up question at this point.