No. One asset sale announcement will push this stock over 1.00. They also have 6 months from notification so there sohuld be no problem.
PWE coming into the Radar as a value play. If they continue to make asset sales they will delever and be in a good position as the stock price will go up. All they need then is energy prices to rise. They have enough book value to raise price of stock and then maybe a buyout. Too cheap rught now for a buyout. They have assets and they need to cash in on them to instill confidence that they will survive without question. Once they break thru there 50 day avg this stock could take off to ta dollar and above. Nice buying on this today.
It's been almost three months since CEO Evans stated in CC tbat the phones were lit up with buyers for asset sale. They were trying to match the right buyers to assets. So what happened??? Evans has had three plus months since he has put up assets for sale and it seems that they haven't put together any deal so far. If they had we would have heard about it. When he stated that there was so many byers fir assets it seems to me that he could have put together someting by now. The stock is down the drain and the percetion isat it's lowest concerning the future of this company. He stated in his CC that there primary effort was to lower debt. Have they? It's a full quarter forward and 0 so far. I think the shareholders are entitled to an update on this issue. There is such a disconnect with management and shareholders as management is keeping there shareholders in the dark. Also after his short lived CC it seems by desgin to avoid negstive questions as to how he has managed the company he still does't get it along with the BOD. I would like to know how much of a decrease the BOD took in salaries and perks also in the C-suite. I hope they didn't reward themselves for doing such a bad job. We need CLARITY.
If management can provide an additional asset sale now it may prove to be the medicine that will cause a breakout for PWE. Every sale increases confidence but still so far the jury is out. Once they bring right now debt down under 1 Billion USD it will cause investors to take notice in a more positive way. The stock has been so beaten up with mistakes by not hedging and accounting problems , div and low energ prices investors have rightfully lost faith in mge and in the company. With all there assets they should move fast to prove that they have the dry powder in assets to make the balance sheet look more like a company that can whether the storm and come out much stronger once energy prices turns. Another meaningful possitive announcement will launch a major breakout. Can management come to the taak??
It's funny but if you go back to the last CC where Evans was speaking to how much interest there was in assets they had for sale, what happened. So far not a word. Maybe he thought he was the CEO of PWE which had two asset sales since then. Right now PWE which was in worse shape looks like Exxon compared to PGH which means I can see this stock going even lower. It just shows everyone that he has no clue how to keep this stock a float with wall street. How much time do you need to pick and choose who to sell the assets for sale too. He made it sound like there was line around the corner to buy these assets. They need to lower debt and the best way is to sell off assets ASAP. Meanwhile PWE is doing a better job then PGH. Let's see what happens this month if they can execute on there words.
Still think she is doing fine?? Maybe she should get Carly to help her. This way they coud wreck the company together. Carly is experienced with doing that. A new good CEO would boost this stock just on the announcement. She is over her head and not respected amoung her peers. Plain and simple.
Who is the lying cheating snake to replace her??? Face it she has done a lousy job. Why do you invest if not to make money.
Really. Is that why the stock is where it is. Because she's fixing. This stock has been dead for a long time and has only gone down. Do you think if they hired Dimon the stock wouldnm't move in points up compared to her. She is a weak CEO plain and simple. They need to bring life to Santander and get someone who is recognized by Wall Street as a leader.
Not necessarily. Another sale of assets done quickly will elevate this stock as they delevage there
balance sheet. Also if Oil goes up into the 50's will also help. This quarter has to be a disaster as management
missed the boat by not hedging like others a long time ago when they saw the writing on the wall which is obe of the reasons that this stock is down. They need to shave off 1 billion in debt if that is possible which would put
them in a good position for a turn around. They just did 192 million and 800 million more would be a good achievement or goal to do before the end of the year. This way there FFO would carry them along with the savings in reduction of labor, interest and the small amount of hedges which is small in place but not at a good price. and lower capex. What they are doing is backing into a new model to keep afloat until the price of Oil gets higher which it will as U.S. production shrinks in the next 6 months and OPEC finally lowers output which they will over the next 6 months too. I think it's a risk reward stock. The reward could be huge and the risk is very small as in a chapter 11 with the high NAV shareholders would get something maybe 1-2.00 per share based on the 500 million shares outstanding. I also think in a fire sale they would fetch between 1-2.00 as long as they stablize there loss's and can get a positive cash flow going after maing all the changes. It's a gamble but I think if you do not own shares it might be a good play because eventually Oil will come back in the 50-60 range and with all the cuts this company will be in a good position to capitalize on that.
Doesn't matter as each company is valued as a stand alone and not by their peers. PWE still has a lot of work to do to delever.
No way pal. It's the market valuating Pwe. It has been a drag for some time with all the problems they have had. They are no where out of the woods yet. The shorts maybe make up 5-6% which is nothing for a stock like this. They need to keep dilvering as management made a dinifitve mistake by not hedging way back when and could have been sitting with 70% hedged at about 90 per barrel for 2015 and 85 for 2016. For guys with so much experience they missed the boat. They need to bring down this debt rather fast and I don't mean 5 months from now. If they come up with another sale in the next 30 days you will see some movement. Remember this quarter was a disaster as far as Oil pricers. Much worse then last quarter. They need to show they have the tiger by the tail. They are still in his mouth. The stock is still a very high risk. That s why it is .54.
With this sale management needs to keep delivering. If they could reduce to 500million debt USD would be very good for this company and avoid a lot more pain. Stock will take care of itself . They just need to keep selling off assets to delever balance sheet.
This may be the right time for Santander to make a very important change. Santander's stock price has languished after removing the high dividend and dilution of stock but has failed to not only maintain it's price but is substantially lower then where it should be trading. Ana Botin while a bright person is not the kind of leader that can bring Santander out of the cellar. With better profits, capital etc.., she has failed to convince Wall Street that she is able to bring back value to investors. This is important as perception by the people that buy have not been moved by her tenure to date. The confidence level is very weak and Santander would be better off putting on a new face because since she has been there the stock has been a total disaster for investors no matter what she has done or says. She's just not cutting it and maybe because of her take over was a family affair rather then a talent hunt when her father passed. Even in Davos, she was not looked on as what I would call a very important person in the mix of financial CEO's which I think hurts Santander as it is a major player which it is. I think it is looked as too much of a family controlled enterprise which restricts getting the brightest from running this bank.
Maybe Time To Harvest Some LT Losses and Buy Back Post Wash Sale Rule. If you believe in PGH not only surviving but Oil rebounding over time if might be a smart play to sell and take losses before the end of the year and harvest those losses for future LT gain or use against LT profits to offset tax gain. It seems to me that with all the news about Oil this commodity along with other commodities will not change the price of commodity stocks for the next 6 months to a year. With that being said it may be smart to take losses and wait for the 30 day wash rule and buy back then entering at a much lower price where if any profits do come over the future if you believe that PGH will come out of this bad situation. At this point with interest rates in t he USA about to rise and make the dollar steonger and all the other global events happening the dollar is going to get stronger before it gets weaker which will put more pressure on commodities and especially Oil. Too many things have to be sorted out to see real stability in Oil prices and it will take time even though I do believe there is light at the end of the tunnel with less rig counts, Opec members and non memebers mis calulating what they have done and now being in a situation to rreverse output. Also supply will grow which will help and alos because of the Opec moves to keep market share will force the USA to open up the export of Oil and Nat Gas since restricted by Nixon in a previous crisis. No way are the Saudis going to carry the big stick in the future. They created too much pain and also the USA policies are going to change which is not going to help them keep that private relationship that they had wth the USA.
You may be right but they have to execute and sell something rather fast as they are losing too much every day. They may have hedged but were late to the party which was a colossal mistake by management. Too much debt and no chance for a profit in the near future shows in share price. Cash flow may hold up for an ither quarter but they need tp sell off properties and maybe better to sell company before it is not saleable. Market cap today is approx 278 million which should be good for someone wanting to get in and take over and buying ahead of t ime brfore an offer. Management screwed up on this company by not hedging early enough and not selling more assets to lower debt. To make this thing fly they need t o downsize and bring debt down to 500 million and then they may be able to make some money and or sell.
Rather pay more knowing that they will be in business next year. They are evaporating there NAV quarter by quarter. They would be better off to sell company if they can. Too much debt and who knows what they will have to give up to raise 600 million which will still not be enough. Also this stock will probably settle near the .50-.75 level reflecting the heavy debt and continued losses.Confidence level is not high on this one. Management didn't plan enough for the down turn even with the hedges. Evans is a poser and not a CEO that can handle this at this time, They need a strong guy in there now before itis too late.
Brazil is a disaster. There is a great disparity in what things cost and what people earn. Very very high interest rates to consumers on creidt cards like almost 15% per month, higher interest rate mortgages that can exceed 1 1/4 per month and higher prices as the government taxes imports and luxury goods that make the retail selling price almost 3-4 times more. The governemnt and states of Brazil are totally broke. The politicians have stolen all the wealth out of the country and left very little meat on the bone to repair roads, to invrst more in public education which is just terrible and so forth. The Lula and Rosseff adminstrations have spent so much that is will take decades to repair all the dmage that has been done. The government expense is so high with fringe beneifits to it's ministers, judges and pensoins borders on the ridiculous. They get away with it by giving a small monthly stipen to the poor whuch is a joke and not survivable, it's just a mess. I would caution anyone that is interested in investing in Brazil to watch out as they will tax you out of business. A lot of the medium sizer and small businesses makje t here money by operating on the grey size of the tax regime. This is a true socialistic country that had a little success under Lula but could not maintain any consistency. I think now as the new middle class that was created by Lula moves forward, they will find it hard t o keep up with there bills.
Mortgages with the buying of real estate which has increased dramatically will find a lot more forclosures then in the past as real estate prices have almost tripled in the last 5-7 years and money was easily attainable for a mortgage which started out at 12% on a floating prime. Real estate is so overpriced for what you get that the market will not sustain these prices and the bubble is starting to burst and will accelerate as defauts grow. Brazil is in a pickle and will take major changes including the govenrment for change.
Has our great CEO taken a salary cut??? You had to see this coming. This stock has walked there dividend down since the highs in Oil prices. Probably necessary but to be hinest he should have been fired two years ago. He is a disaster as a CEO. He was so ill prepared for this downturn by not shedding assets earlier and
firming up balance sheet that he has put this company near the tipping point. With Lindberg added which is the only saving grace he should have sold off non core earlier and lowered debt. PGH owes way too much for what they due and they could have saved a ton of interest. He is a joke and so is the BOD. The next shareholder meeting we should elect a new board and fire this clown. We need to get pro-active.
You see SD.HK,LINe all swapping debt and improving there balance sheet. Where is PWE selling assets, swapping debt etc. Is this mangement team asleep at the wheel again. They missed the boat on the hedging
and now you see a lot of action in the energy patch as they fight for survival. You would think that they would be leading the charge with such a net asset level to the price of the stock. These guys just don't get it. If they think that they can avoid more pain they are crazy. Th way they are going they are going to violate there covenants if lower Oil prices stay low. You can cut o/h so much until there is no where to cut. They need to raise money and defer debt both at the same time. They have assets to sell so sell them. Better to take a hit
on land that is just laying there then having to deal with banks again down the road. The market is expecting some companires to bite the dirt and this is a good example of one that could. I just to not understand what kind of people we have running this company. They have been on the wrong side for 6 months. To make this thing fly they need to reduce to 500 million debt and then they will be in a good position for the future. They need to bite the bullet before it's too late.