Hard to forecast CLMT's price based on logic after the destruction that the former highly paid CEO rained on this company (while cashing in her options as fast as possible during her entire tenure). As I frequently posted (and received tons of thumbs down), the refiners in general were going up like gangbusters while CLMT was going down. Is there a chance that they can recoup their old days of distribution increases after the new officers take over and hopefully gut out the disastrous, poorly timed additions that have seriously impaired this MLP. May take a few years.
Given the job market in Dallas is tight and probably tighter for an Oral Roberts U grad at 42yrs old, compensation of over $1.1 in 2015 million according to Bloomberg, I don't buy the "opportunity". The fiasco associated with NGL counting on the $350 million financing that became unobtainable should tell you about his capabilities. Maybe the opportunity in Dallas was to teach German, his joint major at ORU.
Distribution, and hence yield, down 34% and PPU down only 27%. The company has demonstrated that it is incapable of managing with their new "virtual pipeline" plan that was initialed when the unit price was in the $40's. Has moved over into a sucker play.
Looks like the business plan change a couple of years ago when GLP price was in the $40s was a disaster and the stock chart shows it. Move to shorter lived assets moving oil only works if volumes are sustainable, which they aren't.
I should have sold the opening. Not a lot of confidence in the way this was handled, tells you a lot about the company in general. May go to yearly lows.
All kidding aside, the history of previous distributions provided at the investors tab of their web site indicates that we should definitely know by now that a distribution will be made, when, and for how much. This is a little disconcerting. Has anybody reached the investor relations company to find out what is going on? I have tried without success.
based on the mlps that have reduced distributions in the last year, you would be looking at a mlp price of $1-$3.
Try contacting Noel Ryan III, VP of Investor/Media Relations--that's why he earns a large salary in order to keep investors informed. I tried some time again, but failed to get thru. You may have better luck.