Analyst following Dawson (Zacks and others said) In the last 30 days, the company has seen one downward estimate revision and the Zacks Consensus Estimate also moved lower, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent move higher can last.
I am betting no it can't last and common sense says you can't sustain a business nor float a high multiple and unrealistic share price with four crews working this summer. I will bank some very nice profits shorting this in the high $6's and $7's this is too easy of a call. The summer duldrums, coupled with no active canadian crews working and a drain on the books will make this flase high a hard landing indeed. How will the chart look next month and again when the earnings are released? We'll see, we shall see.
Oh yeah more positive news and with efficacy news on deck for June and three more reports in the queue for remainder of year, we'll see $5.00 so fast you won't have time to get in or cover if your shorty ....have fun sweating the coming days
LONDON (Reuters) - OPEC pointed to a larger oil supply surplus on the market this year as lifting of sanctions on Iran helps boost its output.
Look more and more oil continues to pour onto the market from OPEC at such a rate that hasn't been seen in years. Common sense, says that a continued over supply of the market is here for a while. With four crews working, Canada shut down for the summer and cap-ex and exploratory budgets cut to the bone and dismal earnings for the remainder of 2016... and you think that this elevated share price is just going to keep heading higher and higher everyday becuase an analyst believes in the lagging indicator theory? We'll see who picked this correctly later in the summer. For now have fun with the games, but those piling into this in the $6's well do your DD.... Mitch out...
Funny, I threw my money into it at $.85 cents and I've got gains to show not smoke. Dumbazz needs to learn how and when to invest Chump...
Perhaps and we'll see in the long run.... Until then here's some headlines to ponder, they all read the same quote " Analysts Blow Calls on Oil Stocks "
In Assessing Energy Companies, Many Failed to Foresee Depth of Crude’s Decline, and OPECs desire to crush the competition.
Awweee Yeah....and The Mitch has thousands of shares well under $1 buck....let it roll not ready to cash out until later in the summer when we top $7
Based on currently available information and seismic service demand levels, we believe we will continue to operate four to six crews through the second quarter of 2016, however, visibility beyond the second quarter remains limited. In response to these factors, we will continue to explore cost reduction initiatives. 2016 will be the most difficult year on record says the CEO.
Based on my knowledge of the sector, and the sentiment in Houston as a whole, it's going to get worse as the summer and year progresses. I will cover my position in the $3's later this summer and potentially go long in the fall if I see any demand pick up. However you can't sustain a business with 4 crews working and Canada is now shut down for the remainder of the year. I warned of tough summer, but in their defense they are doing all they can to sustain the company and hold onto the leader position. It's just bad out there right now in the exploratory side of the business. One final thought, oil prices are near peak for the year and you WILL SEE $30 oil again this summer as the Saudi's ramp up.
April 28 (Reuters) - National Oilwell Varco Inc, the largest U.S. provider of oil drilling equipment, said on Thursday it slashed 6,000 jobs in the first quarter as weak oil prices forced its customers to cut production and exploration. The company received no new rig orders for the second quarter in a row in the three months ended March 31, Chief Financial Officer Jose Bayardo said on a call with analysts.
The Mitch will short here in the high $5's and $6's and ride it back down to the $3's and go long into the winter. For now nothing but a long, hot, slow summer for the exploration companies. Worse times ahead and smart people position themselves for wealth building.
Going to be a long hard fall from these elevated levels, $2's coming back as I've predicted correctly already once. Shorting here is an easy choice, and summer will be ultra slow
In sharp contrast, when the mice were treated with P1A peptide vaccine together with both poly(I:C) and LAG-3-Ig, pre-established P815 tumor completely regressed and all of the mice survived indefinitely. These results indicate that the combination of poly(I:C) plus LAG-3-Ig works as a highly potent adjuvant that enhances the antitumor therapeutic effects of P1A peptide vaccine.
Indeed my friend, indeed.....I know all to well and holding thousands of ADR's :)
NEW YORK (Reuters) - Oil prices were down more than 3 percent on Wednesday after the U.S. government reported a crude build three times above analysts expectations to a record high for the sixth straight week, rekindling worries of a glut that threatened to reverse a two-month long rally on the market.
"The data will do little to help oil bulls, given the monster build for crude inventories already at record high levels So with Rigs sitting idle and the rig inventories building, exploration budget cuts into 2nd half of '16 to deepen, well I think I can safely say that the high $4's won't and can't support 4 crews working and the sasonally slow months are yet to come. I will enter the fray in the $2's and then wait for 2019 recovery.
message from the CEO of schlumberger - The world's largest oil driller is expecting the industry to worsen in the second half of the year 2016.
Schlumberger CEO Paal Kibsgaard gave a presentation at an industry conference Monday, and much of his outlook was very bearish. He started with the fact that the oil industry is in "the deepest financial crisis on record" that is making it impossible for most oil and gas operators to stay profitable and sees no meaningful improvement in drilling activity until 2017.
This is why The Mitch has already called for a lower SP to come later this year, and then potentially that Capitulation will occur in what I predic as mid to low $2's at which time buying can occur without much adverse risk. lot's more time to get better pricing, as fewer crews are active and the seasonally slow summer months are coming. Just my 2 cents, but feel its fairly predictable. I will say that I like this company, and deeply respect its management team. It's unfortunate that these tough times are here but it will emerge, stronger and more profitable through 2019 and beyond. I will wait for lower entry points..
Our concerted focus will now be to find a development partner to make CVac widely available to cancer sufferers around the world," said Prima Chairman Lucy Turnbull.
This Could be in the making, when the news hits about a potential deal $5 will be reached quickly.
Of course to the latter number, as it usually does in normal cyclical downturns. However this current environment and what OPEC has done to stiffle the energy sector is far from (normal) The stock has always came back from unprecedented lows. Will it do it again? Likely the answer is yes, but not before another leg down as you head into the summer months. Go long in the $2's and wait for $30's it will come.