PSEC is 1.5% of my mix. I'm OK.
They said dividends could be paid out of NET INCOME.........now they say it should only be paid out of NII. Lots of us have been saying that all along.
*go to CEF Connect (a closed end fund website)
*enter symbol DHY
*click ALL on the left
*Scroll down a ways to where it says SEC filings on the right.....click
*2nd one from the top.....NQ filing....shows holdings
Once you get the list you must add the various ENERGY categories together: categories are...
@@Energy, exploration and Production
@@Oil field equip. and services
@@Oil, refining and mktg.
Also are 2 types of loans.......Corp. Bonds and Bank Loans.
Also shows a split on 7-1-14 of 1057 / 1000. First time I ever heard of that type of split. Typical Yahoo gross incompetence.
CHK did say that they expect the deal to close in Q 4. Pay down that debt!!!
All in my IRA.....no position is more than 2% of my total portfolio..........
EXG................buy / write CEF
ETW................buy / write CEF
GGN................energy / precious metals, buy / write CEF
MEMP.............oil / Natgas producer
LNCO..............oil / natgas producer
PER.................oil producer......royalty trust
As stated, all positions are small so that I don't have to "sweat" any one position very much. Always looking to upgrade to more attractive holdings. Could be a little better diversified I think. Heavy in Energy.
Jerry...........I have another thread here that I started several months ago..... (you may have read it). The last post was Nov. 9th so it's just below your recent posts.
Kel in GB
I became part of a WI group fighting the base rate increases requested by WPS, a sub of TEG. They are seeking 80% increases on the basic charges for elec and NG. These fees were in the $6-7 range 2 years ago. January 2014 they increased to the $10 - 11 area. Now they are seeking (were seeking $25) basic account fees in the $19 area for elec and $18 for Natgas. These are the fees before you use any elec or NG.
Obviously, the percentages here are incredible. A tripling of base account fees in 2 years. They trot out numbers that show how it will have a small affect on large users as they'll trim some NG usage chareges for '15.
I am a small user that has tried to conserve over the years. These increases will have a large effect on my monthly bills, although I can probably afford it. But, there are retirees and low income people that are living close to the edge that will be greatly affected by these increases.
This seems to be their "new strategy" going forward. Get increases in the base rates, then work on the usage charges in subsequent years. Bury the increases in the mid-winter bills where they won't be noticed until it's too late.
Don't trust these guys. They say "conserve and save," doesn't work that way.
Kel in Green Bay
Total debt about $735 million including the $228 mil revolver ...........normalized cash flow about $60 mil per 1/4 or about $240 mil per year.....debt about 3 X cash flow, a moderately aggressive number, but not crazy by any means. Many other small drillers are much worse.
Hedges.........About 4 million barrels hedged for 2015 at a price of $89. Q 3 production was about 1.5 million barrels. The 4 mil bbls hedged for 2015 represent about 65% of CURRENT production.
They hold parts of 2197 wells.....an average of about 8% of each well. Reserve life is about 15 years.....a very strong level.
Book value at the end of Q 3 about $11 per share.
Someone or some institutions are losing a lot of $$. Similar to writing put options and then having to cover them (or naked calls). Haven't real heard anything about this, but it has to be a looming problem. For every winner (those hedgers) there has to be a loser. Maybe they hedged their bets by buying deep out of the money puts on oil / NG stocks. Lots of $$ made there by someone. Just wondering.
cl.....You wander over here from the FSC board? I bought some PSX on Wed. @ 74.43. Phillips Petroleum (then symbol P) was very good to me back in the 1980s. I got on board when Boone Pickens as trying to maximize shareholder value. It was the first stock I ever bought on margin. Did very well. Will hang onto this one. I like the business mix.
I'm spreading my $$ around instead of gambling on one individual stock.
Now have......CHK, AREX, NOG, USEG, MEMP, PER, LNCO...+ UGAZ for NG price.
Good luck to you. Still have to have a little sense of humor once in awhile...(:^)
Hi Pa.........Back into AREX @ 7.35.........Kel
Some positive news on SFY. Natgas is only down about 80 cents from its recent high. Good thing they have all those hedges in place. They could be losing $$$$$ on both oil and NG.
Maybe THIS time will be the charm....Spend some time RE-looking it over for about the 5th time. Looks OK....
Hedges in place for this year and next.
Debt not a problem.
Cash flow is fine.
Cheap based on EPS, Cash flow, and Book value basis.
We know they will produce oil (90%+) for many years.
We know about what the operating costs will be.
We know they have no debt.
We know when the hedges will end.
We know they'll pay distributions 4 times a year.
We know all the wells are drilled (or soon to be) and we'll be free of SD mngt.
All good things to know. Not all the "unknowns" of the production companies.