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EPL Oil & Gas, Inc. Message Board

mcfingers 3 posts  |  Last Activity: Dec 29, 2014 4:45 PM Member since: Jan 12, 2010
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  • Reply to

    Why the drop?

    by jlg29050000 Dec 29, 2014 3:41 PM
    mcfingers mcfingers Dec 29, 2014 4:45 PM Flag

    i think you're right about someone needing to get out. i do wonder though with almost all loans made in texas associated in part with the shale boom, that this is a bit of a late reaction to oil falling off a cliff. hard to say what development fundamentals/demand there is if O&G activity falls.

  • Reply to

    Sell off way overblown . . .

    by state_of_affairs Dec 10, 2014 10:49 AM
    mcfingers mcfingers Dec 10, 2014 4:48 PM Flag

    umm, yeah. HUGE slide in yields, look out below!!! yields have compressed industry wide. i am sure they could have gone out there like PSEC and TICC and chased yield if they wanted to, forsaking their first lien status, taking interest rate risk (their portfolio is floating now more than ever) or bought #$%$ tranches of CLOs...or better yet, made a ton of loans to O&G sector companies! that's where the yield is at!

    nah, these guys are cool as cucumbers. they have been through the cycle, have a couple of Non-accruals they need to work through, may have to add some of their O&G exposure to the N/A rolls. but 25% discount to NAV? 13% yield even at a reduced sustainable div ($0.30?). i already have too much and i am thinking of adding more. this too shall pass and MCC will eventually bounce back in the new year.

    biggest problem i see is all this is happening when economy is growing and US equity markets are hitting all time highs...god forbid we actually go into recession, or market pulls back 10%. where would MCC be under those scenario? guess i should leave some powder dry.

    LONG MCC.

  • Reply to

    OT - NYMT and TCPC SPO

    by luvpizzasj Nov 21, 2014 11:40 AM
    mcfingers mcfingers Nov 21, 2014 2:47 PM Flag

    what is even more interesting is that they have an ATM program to issue shares above NAV and their last report indicated they were using that too...so this SPO could only be half the equity they raise this quarter. at any rate, SPO this far above NAV is accretive for existing holders...not to mention TCPC's track record of leveraging equity to make profitable investments and covering their dividend with FFO. i suspect that this will rise above the offering price once the 6+MM shares have changed hands. only problem is that this is happening on a big up day where indices are hitting all time highs...so i think i will wait until another panic or down leg before adding. LONG TCPC

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