Sales growing but I wish the rate was faster. Big problem is the accts receivable. Looked on the income statement for an amount. Might be buried in the G&A expense area as that had a decent jump. Question is are the payers just dragging their feet or are some accts being written off. Balance sheet OK.
Maybe they had to sell to save some other position that was more important to them. Keep what's acting good and sell the underperformer. SFY certainly qualifies as that.
Cash flow is figured after SG&A and interest expenses are deducted. They said about $180 mil CF at 4.00 ng and 80.00 oil. You are correct that CF would be severely impaired if prices fell to say $65 oil and $3.50 natgas.
Still holding a bunch. In fact, I added yesterday @ 6.18. Besides the negative of even having the acct issues, the money involved with it isn't a negative to the bal sheet or income statement. Just more proof of mngt that has to go, probably via a buyout and elimination of their jobs. BOD is a joke too.
SFY now trading at 1 X cash flow and
Thanks very much. I had forgotten about the apt complex. I held the stock at the end of '13 and that deal was already done. Didn't they lose several $$ million on those apartments, like maybe $9 mil?
Would pay to hold it if you thought it was going to drop more than the x-div amount. Another factor coming more into play here is the price of oil. This stock is starting to act more like a typical oil production company. Moving up and down with the daily swings in oil prices. Not very logical, but that's the way the market works.
Once the hedges come off next March, it'll really be at the mercy of oil price fluctuations.
Kel.....just an observer
Many months ago up in the $4 area. Read the report, sounds good. Those that are worried about EPS.....don't be. Focus on cash flow, which is healthy and growing. Debt is also very modest. I like what I see.
That's what this stock will look like when it breaks loose. Shorts and MM still smothering it. When it breaks loose of their bonds, it will be $8 very quickly. Hasn't done too bad today considering the news. News not really bad ($$ and cents wise) but the perception could have been much worse.
Kel............a big time holder
One of my AREX purchases was @ 8.80. Very good price under 9.00. Not much debt, growing, and good mngt. Under $9, it's trading at less than 3 X cash flow, a very cheap level. Of course SFY is below 1X cash flow right now (likely 2014 total).
Changes have been made from this original group.....PSEC and SDT both gone. SDRL came in and has left. Added EXG, ETW,and FPL. No position is larger than 2% of myIRA.