If insiders wanted to buy more at these levels they couldn't. Insiders have a brief window AFTER earnings are announced to buy or sell. Secondly, with the level of debt, and history of disappointing losses, the pps could just as easily be 5 bucks a share if earnings aren't promising for a profitable 2012. I like ATPG but it's a huge gamble compared to many other oil stocks.
I was just going to make that point Rusty.
Of course mgmt. isn't buying...SINCE THEY CANT! Talk about SEC trouble - just try buying before the Qtr. report is released if your are upper lvl. mgmt. So that way they could load up at $6 bucks a share knowing they are gonna post a Great Qtr. lol
Anyone who sells right now shouldn't be in the market. This is a buy opportunity. This time next year when it's trading for 8 or 9 a share there will still be doomsdayers on this board and I'll be laughing all the way to the bank!
It puzzles me that oil stocks right now seem to go with the ebb and flow of the general market instead of following the price trend of crude and other closely related indicators. Any insight? Today is a good example of my point. We should be up, but because BOA and GE had poor earnings we are following the market trend.
My primary holding is SGY. I bought at 4.80 and have held and added ever since. I also own some WH.
My avg. is 4.38 and I'm in for the LONG Haul. IMO this is just the beginning of what I expect out of this stock. I will sell half of my holdings around the 38.00 mark and the rest can ride baby ride!
Somebody has a big Ouchy! Based on your previous post sounds like you've been short from about the $5 mark..
That MUST REALLY STING!
And too afraid to sell on highs and releverage. Did that with Hlx and got burned. Damn thing went down one day about a buck and shot like a rocket from there on. I see the same pattern here. I'm sticking like super glue.
Why would HNR not be a gem??? Lots of cash, no debt, and pps half of avg. 5 yr chart. IMO this is a no brainer strong buy until 7 selling over 10.
Couldn't agree more. Any moron can just look at a five year chart on this stock and see that anything under 25 a share is simply a golden opportunity.
If your interested in any other energy stocks HNR looks good to me (I own it also) it has zero debt and a decent chart. Been creeping up little by little like SGY. I'm expecting it to pop through the $4 mark soon. The sector as a whole seems to be rebounding nicely.
Let's hope SGY follows the lead of HLX. I bought that little gem a few weeks ago thinking by end of year it may hit double digits and it hasn't looked back. I just got in on SGY last week after watching and researching it. I think getting over the $5.00 hump with not much resistance is a good sign.