The close today was $4.60, up 20.4% while WTI was up 9.4%. The last hour tomorrow when profits are taken may be a more indicative close.
The EIA said yesterday both imports from Canada and imports from Saudi were down in the latest period. I have no axe to grind with our friends from Canada but preserving the Kingdom has to be a very low priority going forward.
"Drone demand is strong, GoPro sell-through is steady and
competitive concerns appear baked into the price, so we think
AMBA looks attractive at current levels trading at a 0.44x PEG on
this year's EPS...and numbers are almost certainly still too low. We
remain buyers and see upside to $123."
The green yesterday in the face of WTI weakness is being followed by more green in the pre-market today with WTI as a tailwind. Somebody had guts yesterday and is being validated in their trade. Well done.
Guidry told you last week September and Q4 would be special.
He's a young guy--44-- and has only been at Talos for 9-10 months.
Talos Energy Announces Addition Of SVP & CFO Shane Young
November 17, 2014 – Talos Energy LLC ("Talos”) announced today that it has hired Shannon "Shane” E. Young, III as its Senior Vice President and Chief Financial Officer effective on December 1, 2014.
Mr. Young, 43, most recently served as a Managing Director in the Global Natural Resources Group at Goldman, Sachs & Co. and was previously a Managing Director at Morgan Stanley. Shane brings over 20 years of energy banking experience, providing his clients with strategic advice and executing numerous high profile M&A, capital markets and loan transactions.
I checked with a MS broker this afternoon to get a sense of MS's relative enthusiasm for the name in addition to the Overweight rating and $15 price target. It was easy to buy it, therefore, for $7.90 going into the close.
The announcement we need soon is that the natural gas line construction is completed allowing the Teton wells to be flowed to sales. The restricted flow test data is awesome but it;s only a tease thus far. The stock will pop 25% the day the announcement comes IMO and add more when the production guidance is raised beyond the current 1200 boe/d for Q4.
Management and directors would be against an offer of $2.50 for the company as insufficient, but they own less than 10% of the shares. Institutions own 62% of the 65.8M shares here. Soros and Federated bought in during Q2. Perhaps they'll shake the tree, but I doubt any of the tutes would argue with the moves Goodson and Clement have made lately. Any dissatisfaction would likely be for the slow pace of activity going forward. Our Cotton Valley position cries out for rigs, even at $2.75 nat gas, but PQ can hardly afford more than a single rig in the play. I hope MRD comes to tuck us in soon.
Goodson clearly thinks he'll reprise the previous 2009 low to 2011 high move. It was a 4 bagger in that time frame. His comments from the EnerCom podium suggest a $1.25 to $5.00 goal is his new goal for the similar two year time frame.
I'm proceeding on the theory the CEO intends to remain free and out of jail and did not mislead shareholders with that statement. I took some of that 18% yield just today and will sell $7.50 calls against the shares to make it even sweeter. Big yields come with big risk, of course. Long live the rule of 72!