This company has lost 600 million dollars, almost 50% of in market cap in just few days (stock was hovering around 12 before ex-div)
This in spite of very successful asset sale that essentially removes any liquidity concerns for at least 18 months. Company has solid assets with Book Value of at least 22.
Why did they not have CC? why they had no comments on ER? Are they even concerned about this disastrous decline in few days?
JPM up over 2.5% AH. I am kicking myself big time. I was going to switch out my C options to JPM options when I saw JPM down over 4%. JPM almost always bounces back. They have executives that are dedicated (Dimon) and they walk the talk.
I got trapped by relative valuation. Now I know why is C so much cheaper than JPM.
and now all of a sudden everybody wakes up to this and say OMG this is bad?
They could have made this ER so much more positive. Worst thing was not have a cc and leave it to the speculators that can manipulate stock and create panic and fear
450 million EBITDA is very decent for the company of this size.
With stock trading at 6.3, the book value is around 22 (just look at recent asset sale if you dont believe in this BV) and debt load is that bad compared other companies in the same space.
Look at CLR net debt, revenue, book value and it is more expensive than big guns like DVN, APA
Did someone expected miracles in this kind of environment?. With asset sale, the distribution will be maintained, debt will go down
450 million EBITDA for 800 million dollar company still looks very good.
I guess that's not bad.