the capital spend program that is ending was costing about twice the distribution. They should be able to cover the distribution for a few quarters to see how the program pays out. If its a complete bust, then they can cut the distribution and blame it on project vision failures of past CEO. I really hope that is what happens, as the stock price is seems ready for a 50%+ cut.
yeah me too. its not like i needed the divvy money. I was only going to use it to pay my health care for the next 4 years til medicare. i probably don't need health care anyway. I can just Obama to pay mine.
last conference call said they wanted to take on more debt. stock up on cash, and be able to continue buying back stock.. last purchases averaged $35. share.
people must be watching the dropping price of world wide Urea. I agree its a problem, but CF margins are going to hold up well, with increasing sales volume. The biggest plus this year is a huge write down on the investment, that should take income taxes to near zero, and leave us with a good net income even with the worst possible sales and pricing environment. And one day soon corn and beans prices will start to trend higher, and margins will return to prior levels. I'm adding here. Cant see how it doesn't do way better than S&P over the next 12-18 months.
i will answer my own question. Its the price of corn. Dammit. Ive wasted so much on calls on waiting for this thing to reverse. all it took was the price of corn. now every stupid money house program says to buy CF when corns goes up. Dah!!
Beating when you are barely profitable is not quite enough. What is this stock doing up so close to its 12 month high?? Refining earnings will be bad this quarter, and current cracks are poor as well compared to Q2 15. The only positive, is lower Capex, so cash flow is less negative. When oil settles out next year, they will be lucky to make $4/share. So is this now a 25 PE industry??? Sell with both hands.
agree. the minute prompt crude drops back a few dollars, these stocks hit air pockets. You have computers buying these stocks every time the price of current crude rises by $0.50. Crazy. no fundamental analysis allowed. things get pretty outback
Yeah. negative cash flow, 2% yield, and the PE is up close to infinity. Easy short here. Up 20% over last bit, while XOM was up only 8%. And Exxon is earnings positive. These people with computers in charge forget to do a reality check every now and again.