Pa..........Got back into CHK today (Friday) @ 15.40. Eighth time this year. So far 6 wins and 1 loss.
Made just over $1.00 a share with a correct market direction call using SPXU (ETF that shorts the S&P 500 X 3).
Been staying away from AREX and SFY. UWTI might be good. I think WTI OIL has seen the lows, just don't know if it's ready for a sustained up move yet.
Look at the FSC board sometime. Me and a group of about 8-10 others discuss anything and everything over there.
Have a good weekend......................Kel
Big driller, mostly natgas .
Debt around $11 bil..........Cash around $4 bil, mostly from property sale to SWN late last year.
Has made large cuts to CAPEX for 2015 as have most in the biz.
Will be a survivor. Carl Ichan involved.
CHK is about the only holding I have now in the oil patch. Glad it dropped today as I was looking at it late yesterday and decided to wait until today. Thought that WTI had quite a run this week and was due for at least a small breather.
I agree the most with you. They might get bought out before they have the chance to spend the cash hoard. If an acquirer waits too long, CHK will probably buy some development properties, but not a company (who wants someone else's debt added on).
I'm not a fan of buybacks when there's so much debt on the bal sheet for any company. Sure, you can borrow at a few % (some companies), but the debt principal is still there regardless.
Not opposed to small property purchases (or sales).....just nothing huge.
Looking at MCC, also looking at TICC. Similar metrics and even more beat up. Current EPS estimates about match the current 1/4ly div of 27 cents for TICC.
Bought some @ .739. I think I had this stock 3-4 years ago at a price in the $5-6 area.
Good point about ODD. Really does mean almost nothing.....except provides the opp for a splashy PR release.
Looking at ONCY and like what I see so far, especially the recent cash raise.
Announced new restrictions on margin trading mainly in THEIR over-the-counter markets. China ETFs (look @ HAO for small caps) and FXI (for large caps) down over 4% in U.S. trading. Major European exchanges weak also. Still trading for about one more hour.
Declared monthly of .0662 on April 16......x-div on 4-20. March div was .1426 and Feb. div was .2412. That's the way they are, vary greatly month to month.
Started out moderately positive. Then, when the inventory report came out at 10:30 Eastern, it took a rather sharp dive as the report was worse (more injection) than expected. A little later, NG turned up and is still bumping along the daily highs well above this morning's lows.
Not currently holding an oil / NG drillers, so just observing this somewhat strange action.
Bought SPXU @ 34.01.......S&P 500 was @ 2104, down about 2 points.....DJIA down about 8 points. Not likely to be a long term trade.