The share are selling at 9% discount to net asset value as of 03/19/15. A lot better buy here then a few months back when people where buying at 15% Premium. I am adding here and will reinvest Distributions. A few years out when oil prices recover should have a large gain. Net asset value can be checked at closed end funds connect .
was back in 2002 and six years later in 2008 it trade up to $90. The buyers of this secondary offering are buying shares at 13 year lows. Are you buying or adding to your position here?
looks like you got the chance now. should open at $11.70 or so per share. Company just put up 85 million shares to sell to pay down debt. at $14.60 Canadian Dollar or $11.76 US dollars
I do not have a lot of my holdings in xco. I have been buying mlp type holdings . I buy closed end funds like (jmf) (peo) (KYE). I also have started buying Alerian MLP ETF around current price. I do have shares that I am under water on in eca and esv. I have done well over the years by being patience and buying when there is fear. I have had my share of losers and need to work on selling when fundamentals change for the worst. I was drawn to xco because a lot of smart money had invested at much higher prices then I did and I knew it was a gamble when I purchased the first shares . Things in the oil patch may get worst before they get better that is for sure. If and when things turn I will add more to my positions.
what happens isis takes over the middle east oil fields or blows them up. Then the price of oil rockets up and you miss out on a lot of good buys out there. Sure you can hold your cash or take a chance on a big pay out. Buying oil and gas stocks now will make you money in one to three years . No one knows when things will change so just keep buying and sooner or later you will make a nice profit. Buy when there is fear in the street. How much bank of america did you buy at $4.00 a share. B OF A will one day be $25 a share that,s a 6 banger. It takes balls to buy when there is fear in the street. Look at lumber liquidator some one had the balls to buy it and made a nice one day pop. Not many have the balls or money.
Good thing they have there production hedged at a much higher price then spot. For now the supply of nat. gas in storage does not matter much to xco as it will when there hedges run out. So willy you should cover your short and get long before you miss the chance of a lifetime.
The 15% premium that was being paid has gotten washed out and shares are now sell at a 1.73% discount As of 02/18/15 .Current $6.24 share price --- net asset value $6.35 discount -1.73%
The last time I had a good size position in SRF I sold it all a $21.72 back on 01/30.2013 And now have average cost of new shares of $6.29. So I figure if I just hold out and collect the monthly payout that some day it maybe back to $15.00. I do think what your doing is much smarter. I have been selling at lot of fixed income funds with a good long term profit and buying( SRF ) (PEO) (KYE) (JMF) for income and adding to (ESV) (NE) (ECA) sure hope oil does not pull back to $20 - $30 level that some say will happen. I believe it will be back to $100 at some point and I will have a nice gain as well as good monthly income a long the way. I have been wrong more then once. Like i said what your doing is a safer move .
SRF may no longer be trading at a premium. I have been buying a little in the $6.00 range. I am not sure if they have changed there holding and if they still hold line and bbep which have been moving off there lows. This may just be a head fake with oil prices moving up. I been slowly building positions in kye peo and jmf. I found a company FMC TECH symbol ( FTI ) looks interesting long term it has jumped 6% since my first small purchase
share price $6.93 How can people pay 15.69% premium. I will give them a better deal give me a million and I give you back 900k. This fund is very rigged the way the share price is jacked up and it does not trade as low as real nav value. Good time for sellers to take a tax lost and trade for a better fund and buy it at a ten percent discount and they be in the same type holdings at a value of 25% more, seems like a no bainer move.
Why would you buy a fund selling at a 13% premium when you could buy a different fund, better run with the same or much better holdings sell at a 12% discount. You would be 25% a head of the game already. This is being smarter then people who would currently purchasing SRF at this price.
Why not buy a fund with the same type of holdings selling at a discount that is better run.(peo) Petroleum & Resources ( JMF ) Nuveen Energy MLP Total Return or if you like cushing company how about ( SZC ) Cushing Renaissance Fund. I like the holdings in ( kye )Kayne Anderson Energy not sell at at discount right now. If I where to add to kye I would look to buy at a 2% to 3% discount. . If I had to buy only one and was looking at all factors aand was looking for a safe bet. PEO fund Petroleum & Resources paid out $1.89 in earnings and not ROC and has been around since 1929 and has a ten year average return of 7.46%. and it is selling at a 12% discount.with a lot of very good holdings . Exxon Mobil Corporation $127.76M 14.02%
Chevron Corp $88.68M 9.73%
Schlumberger NV $56.95M 6.25%
Halliburton Company $39.41M 4.33%
Occidental Petroleum Corporation $38.94M 4.27%
LyondellBasell Industries NV $38.47M 4.22%
EOG Resources $35.45M 3.89%
Phillips 66 $35.07M 3.85%
Dow Chemical Co $28.71M 3.15%
Anadarko Petroleum Corp $27.90M 3.06%
Noble Energy Inc $25.53M 2.80%
still selling at a big premium . closed today at $7.76 a share about a 13% premium . How can people be so dumb to pay such a premium. This stock seems to be controlled by the market maker something is weird going on with the price. One thing that is clear is anyone who was sold this a few months ago during the secondary got screwed
The nav maybe close to share price at this point after todays run up in line and bbep after hours. It would be nice if they had nav updated daily. I saw nav price of $7.17 (01/02/15) before line started to take off so It could be time to start buying. I would like to buy at about a six percent discount but may not get there. Another cushing fund SZC trades at a big discount maybe some thing to check out. I have never bought any SZC. I did buy JMF AND KYE but did not get enough of them before they took off.