With North American oil production starting to peak and Paragon expected to report a strong quarter, now might be an opportune time to initiate or add to a position in Paragon Offshore on the speculation that the contracting environment will start to improve.
BIG SHORT SQUEEZE coming soon. With small float and large number of shorts expect an stampede sending this well over 4---- 5---- 6----7 in a short while . remember even at 7/share we'll be still down 10 from what it was about 6 months ago and before factors outside company's control and performance knocked the shares down. Also remember that despite such historically adverse oil market this company has not had a single contract cancellation and actually their revenues have stayed as solid as ever.
Many stocks get punished for no good reason in adverse market conditions. Just look at thousands of stocks such as CITI, Bank of America, etc etc that were dragged down to low single digits when housing went south like oil did last year and now most are up several hundred percentage points since.
PGN will eventually reach back to 17 of last July and beyond. HOLD ON TO YOUR SHARES despite any up and down days. This is a great company with a great management with much foresight. PGN shares are things for retirement. Just last July the company was paying $1 per share in dividend which they had to stop because of the market condition but this management likes and understands the value of divided and they'll be back paying out big bucks as soon as possible. I can envision few years from now when PGN will be paying$ 5 or $10 a share just in dividend. ADD when you can but hold on to your shares and like the guy said place a sell order at a very high amount for GTC so shorts can use your shares.
Very funny to rank a company "market perform" and yet have a price target lower that current price. By Market Perform to they mean performing down? Then why do they also have under-perform rankings in their arsenal.
Also the most importantly they don't say why they lowered the price target and based on what oil prices in the future? Were they may be expecting the oil prices to crash much further and hence lowered price target? What would be their price target if oil went upto $200? Do they even know for certainty where the price of oil would be one month or one year from now or what Saudis or others may or may not do in the future? Of course they don't know any of these important factors and hence they should shut up and stop with opening their mouth although I have no doubt they have an incentive to keep the price down following the good news from the company yesterday.
afters day after day of bloody res over since Feb 9th we finally see GREEN. I've had to pinch myself to make sure it is not a dream...Is it possible that short sellers have finally let it go and those on the sidelines have realized how silly cheap this is become?