That is interesting as insiders have in the past been tight holding shares. Timing seems odd selling at and under $25. Who knows the reasoning, but if CLMT not worth $25 I don't know what is. I do have concerns of a SPO plus we going into earning season and doubt news going be all that great. CLMT is a cash cow as far as distribution and think that will continue. Being the case, seems odd being a seller at current PPS.
92 cents on a 6.60 stock still good. Doubt traders will be crushed over the 3 cent short call. Agree, doubt anyone was expecting a cut of any kind now. Guess this accounts why I was able to buy 6.57 in AH.
When up against the wall, a 1/10 reverse is in the cards. No other options open for this PPS on life support.
PBF has very strong financials, they are growing the business and just purchase a large refinery. After they close the deal years end, they will be able to process 725,000 BPD. VLO has 15 refinery's and that's a third of what they do. Dividend nothing exciting at 4.5% but expect that to grow next year.
Right now looks like hedges selling the stock down for no material reason other than I expect to run it back up again. PPS does move around quite a bit as chart shows. So right now buying into this dip.
This longer term play for me that I seldom allow myself to get tied into. GL
Hi Pure. See you can Cragie still at it. I am looking at this again if price gets beat up a bit more. Have strong position in CLMT and PBF. My thinking about only half way safe place to be is in the refiners. Been in and out of the mid-streams short & long and flat now. I am thinking low oil prices not going away very soon. I still play the EX runs and sit on the side lines until about a month or so before next EX. Thus, looking to buy lows now. Ahead for the year but nothing to write home about..
Don't seem to any news on refiners that I spent an hour looking. Mids & Drills also down too. Was no buying on the close either.I am surprised by how much this drop today. Have to make an exception and add on to position if goes lower. I just get feeling this is just manipulation to drive it down, buy back and run it up again.
I been watching the trading in CWEI and how the PPS is being manipulated. All of the trades and book was 100 on both sides or less. They ran this mutt up $5 this way. Was not following ALDW today on the run up but was surprise how much it was up on no news. At least ALDW makes money and pays a distribution unlike CWEI. Think you have a few traders churning accounts with each other to run prices and that seem on the face of it, illegal.
Anyone holding this stock obviously is not paying attention to anything about the company, the short float and outright manipulation of the PPS. So many similar company's with better assets, larger, better financials selling in the $6-$10 PPS area. High risk is an understatement!
".no real risk left...even if it goes under you wont lose much now..no brainer BUY"? You get a 10 for the most stupid post I have read in past week.
So much humor in posts one might think they are serious. IF a person was thinking this oil down draft was a short term event blip, then buying drillers might not be all that stupid. Nothing is blinking green light that this is a short term sell off, then up we go again and rigs will be booked up again. Instead it should be obvious this is going to play out over much longer than most expect. In that case, drillers are the last place you should be parking your money no matter how cheap they 'may' seem. I been preaching going to cash for past six months, and still do.
" What gives"? First off you ignored market information that was pulling the oil & gas sector down. Then you let your loss run instead to trying to hone in WHY the stocks were dropping and missing that you now want to kn ow what gives. The market was telling you it was in a bear trend, you just failed to believe it. It's like a guy gets run over by a truck and asks what model it was.
I am looking at the Nov 22.50 puts on ALDW. See how much more they can milk out of this run next week to buy some. Your correct, the lower share count makes it easier to run it. Hard to believe value buyers continue to jump on the thing. $5 over CVRR, it's obvious buyers are not using their heads. If, and I think we will get the post sell off, I would be a scale buyer in on CVRR & CLMT. On CLMT do have some concerns they might do another SPO no matter what market conditions are. #rd QT on refiners should be strong. No matter what, way market is, no rush to do anything.
Won't be bankrupt by end of year or next. Do agree the executives are over paid and taking care of themselves. Too bad performance is not tied to wages for the higher ups.
It's a fair and valid question. The answer is they will never pay it back, just kick the can down the road for as along as they can. As long as bond holders and banks get paid the interest, it just keeps on. With free money all over the place, they can continue this way until rates start going up. This is the problem buying company's with huge debt loads in a market like this, people start asking questions before buying.
Distributions are meaningless in a bear market. On EX you will get your $1 distribution, however the PPS adjusts down by the same amount. What have you gained, zip, nothing, plus good chance PPS keeps going lower in this bear market. The run ups of today are mostly muted in a bear market, plus a bad report on top of it.