I got $0.23 for selling the August $2.50 calls just now. It could be a nice total return for being called away if my theory that they're working more with oil in the high $40's pans out. The stock was $3.00 thirty days ago. We shall see.
Thank a Vet this weekend, everyone.
They've been counting on a reverse split they could punish but one has yet to be announced. Will it be avoided in favor of some other positive development? The NYSE seems to be giving CRK more time to comply. Excellent news.
Nobody takes $9 million in exchange for $81 million of debt if the common stock is anything close to $6.50, armatima. We understand you like the stock, but you're making a fool of yourself.
Storage data tripped us up this morning, but you have to accumulate in advance of the first real summer heat and the inevitable gap up. The herd will move the entire nat gas list when the trade becomes obvious and crowded.
I think there is a 15 day or some short period of respectability before the underwriters can issue new opinions or positive comments, but you know it's part of the quid pro quo. I think the low target price among the three was $1.50 prior to the offering and the acceleration of activity. I'll guess $1.75 for their new target average along with insider buying.
Yesterday, Bentek came out with a report saying that U.S. gas production is actually at 70.3 bcf/d, lower than assumed by RBN and other analysts. Check the NOAA forecast map for June. The stars are beginning to line up for the gassers.
Let's get to work and give the tombstone crowd something to crow about two weeks or so from now.
Citi boosts their target to $89 from $76, causing Cramer to say, "You do not go out and make this call unless you're really confident that they are going to beat the numbers."
Workday Inc (NASDAQ:WDAY) had its price target raised by Needham & Company LLC (analyst
Scott Berg) from $80.00 to $85.00. They now have a "buy" rating on the stock. 10.5% upside from the
previous close of $76.94.
Money for acquisitions seemingly goes to the Permian for:
"Abraxas holds approximately 8,092 gross and 5,227 net acres across this play. The acreage is 100% operated and 100% held by production. Abraxas is also currently attempting to acquire additional interests by acquiring the non-operated interests of the Company's working interest partners in the assets."
Other than the above, put the money into the ground while costs are low. When CL stabilizes above $50, rig and service costs will go up in a New York minute.
My order today at 1.00 and then 1.01 only got partial fills so the throw back is probably mostly complete.
Post- settlement date for the funds used to purchase, we should see this begin a slow grind higher.
Wells Fargo was out Friday in favor of oil field service large cap stocks, but as the trough becomes firmer and more sure, the institutions and hedge funds will come for the mid and small caps in this space like BAS. (JMHO)
Forget the BK baloney. NG storage fundamentals are now very mildly encouraging, and while it's always mostly about weather, at the winter strip CRK has already said it survives. With Allison being a lawyer, there's no way he lies to us and risks slammer time.