To make matters worse, I just heard on CNBC that OPEC raised their production.
What country are you from? You need someone to write for you, or at least proofread.
Wrong......The piece was dated June 3, 2015. Google it.
Here's an excerpt:
"Penn Virginia (NYSE:PVA)’s share price traded down 3.5% during trading on Wednesday after Barclays lowered their price target on the stock from $5.00 to $4.50, Analyst Ratings Net reports. Barclays currently has an equal weight rating on the stock. Penn Virginia traded as low as $4.74 and last traded at $4.75, with a volume of 1,656,055 shares. The stock had previously closed at $4.92.
Several other analysts have also recently commented on the stock. Analysts at Imperial Capital lowered their price target on shares of Penn Virginia from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Thursday, May 21st. Analysts at SunTrust reiterated a “buy” rating and set a $10.00 price target (down previously from $11.00) on shares of Penn Virginia in a research note on Tuesday, May 19th. Analysts at RBC Capital reiterated an “outperform” rating and set a $7.00 price target (down previously from $8.00) on shares of Penn Virginia in a research note on Thursday, May 14th. Finally, analysts at Canaccord Genuity lowered their price target on shares of Penn Virginia from $9.00 to $8.50 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $9.73."
Uh, guido, I read your post twice and have come up with the following response to same: You need to take a pill or two. lol
I understand, but please, if you post a comment like that you have to back it up. Right now, there's absolutely nothing out there (i.e., news).
Huge volume today. We've been gaining over the past few trading days. However, this is the largest gain so far, in addition to the high volume. Huge fluctuations, too!
Short covering in anticipation of an imminent sale???
5k @ $11+.......Yep, I'm a bag holder. lol
However, there's an asterisk attached to the above.....I've made back a nice sum with trading money.
In any event, as I said, my 5k long averages out to $11+
Other than not being able to find a buyer, what is it that you think management is "intentionally" trying to do to drop the sp? Don't quite understand where you're coming from.
On another note, I'm somewhat surprised we've gone below 4. If we close below 4 today, I shudder to think how low the sp will continue to decline. As for me? $3.50 and I'm gone. Seems to me the vultures are waiting patiently for a bargain basement acquisition.
The Zacks hatchet job scared you?
Here's an excerpt of the Zack's piece:
"One such stock that you may want to consider dropping is Penn Virginia Corporation (PVA ), which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #5 (Strong Sell) further confirms weakness in PVA."
So you're concerned about PVA's price decline in the past four weeks? I guess you just trade PVA. If you were long, then you'd be a lot more concerned, considering PVA's sp on June 17, 2014, was $15.32!!
The article was authored by Sarfaraz A. Khan. I just finished my comment to him. Still waiting for approval by SA.
I encourage other longs to appropriately respond to this writer
Too bad......If that happens, you'll have to relocate to another place in 'shortsville'.
With respect to your opinion re. TPLM/Rockpile, you're obviously looking at the 'today' picture. I'm looking at the 'future' picture.
"In a report published Wednesday, Imperial Capital analyst Kim Pacanovsky downgraded the rating on Magnum Hunter Resources Corp
from In-Line to Underperform, while lowering the price target from $1.75 to $1.25. The analyst believes that the share price is likely to drop below its current level, going forward.
According to the Imperial Capital report, "Even if MHR is successful in raising $100mn or more of cash in the relatively near term, we believe that in its current operating configuration the firm will outspend cash flow by roughly an equal amount in the latter three quarters of 2015. If the company were to raise all of the cash it has targeted through divestitures and JVs, then it likely would have enough liquidity to move through 2016, but would still need to raise considerable cash for 2017 activity."
The analyst believes that given the company's debt and preferred burden, as well as transactional risk, Magnum Hunter is likely to face challenges to generation adequate funds to spur growth, unless gas prices begin to rise.
The company now expects the sale proceeds from its West Virginia non-core segment to be lower than earlier anticipated. Although Magnum Hunter has announced liquidity initiatives worth $300 million, the analyst believes that there could be significant risk to achieving this target, given the current dollar levels.
Also, the liquidity initiative announced in April 2015 by the company is now estimated to bring in almost half the expected amount. Therefore, the company has added new initiatives to its list, including further acreage sales in Utica and a Marcellus drilling program.
The EPS and EBITDAX estimates for 2015 have been lowered."