I was in the 101st. My uncle was also in the 101st and he parachuted behind enemy lines setting up for D Day. Both of us saw a lot of bad things. I get real sad when I see that our National Debt is about $17 trillion and that our future debt will skyrocket. I fear that China will over take us as the preeminent world economic leader. I believe that this shale oil could be a game changer for our country. You could put the big trucks on natural gas, and approve a couple of refiners and drive down the price of gasoline. We flare off enough NG to heat a few cities.
Good luck with PXD
I confess to being born in 1949 and spending a little time in Viet Nam's rice paddies before most on this board were born. I like PXD, but it has been priced for perfection at 220+. Pickens still holds a big position. The question who is right Pappas or our CEO regarding how much oil really is in the Midland area. We will have a much better idea next year. I also like FANG.. a lot smaller and riskier
Spot IO62 pricing was $138 this morning. What do you think the 2014 projected earnings will be? I expect a nice favorable surprise when they report this quarter's numbers. I had hoped to buy back in at $14.50, but was happy with today's price. The stock is building a base and there is not anymore big negative stories out there. If we get a good quarterly report, we should see $16+ and maybe 17
I don't get it either. Credit Suisse thinks that actions should be positive. The stock popped to 40+ and yesterday ended the day less than 39. What is going on?
Any idea how much the recent inclement weather will negatively impact production and earnings? We just can't seem to crack $190 a share
I felt that Vale's share price would drop when I saw that they had not raised any provision for the foreign tax potential (now realized) expense. The stock was over $17 and has now dropped $2+. I received a few negative responses, but I believe that a few people did not understand the hit that Vale is taking over the foreign tax settlement.
The investor day had a few important points: 1) Capital expenditures are being cut again 2. Vale is budgeting to pay $4billion in dividends. If IO62 pricing can hold up, I expect some positive earnings surprises. I will start to buy it back if nit dips to $14.50 or less. I doubt that we see $20 next year, but if we finally get some global economic growth, it is possible. This stock will provide a nice growing stream of dividends for many years
I was hoping for a pop to at least $190+. We have been killed ever since we missed last quarter's earnings. There is a lot more skepticism out there regarding the long term viability of shale oil. Some feel that you will continually have to drill new wells because the existing wells will be quickly depleted. Only time will tell if PXD is correct about the amount of oil in the Permian or if Pappas is correct. The market dislikes uncertainty, and at such lofty PE levels, PXD just can't punch through to new highs until they prove that they have the oil growth, regardless what mgmt. says in a presentation. I own the shares and am waiting for next quarter's results
I think that all you have to do is watch the price action on the 25th and the put and call volumes. I have traveled in South America for the last 30+ years. I have an apartment in Peru' and I go there for at least 2 months per year. If you grease the right palm, normally you can get out of a ticket, find out information, etc. Somebody will find out in advance and the Vale pricing on the Bovespa on the 25th will probably be a pretty good indication of what to expect
Espero que tengas suerte con este
I agree that Squawk Box could be improved immensely if they would stick to news affecting investment decisions. It is no wonder that Maria Bartiroma is leaving CNBC
I agree..it s all about the hit to future earnings
Have you seen the calculation of what the total net asset vale/share is of PXD's shale holdings?
It seems to me that one of the majors might just buy us out if share prices continue to be depressed
Thx and I enjoy your posts
Oppenheimer Downgrades Pioneer Natural Resources (PXD) to Perform
6:49 AM ET, 11/21/2013 - Street Insider
Oppenheimer downgraded Pioneer Natural Resources (NYSE: PXD) from Outperform to Perform and removed its price target (prior $180.00).
For an analyst ratings summary and ratings history on Pioneer Natural Resources click here. For more ratings news on Pioneer Natural Resources click here.
Shares of Pioneer Natural Resources closed at $183.13 yesterday, with a 52 week range of $101.09-$227.42.
Yesterday, Baird gave us an upgrade and the Fast Money people said to short the stock. With all these mixed signals and the questions raised by Pappas, I don't see much hope for price bounces upward unless some new catalyst comes out
Brazil is hosting the upcoming World Cup and Olympics. They are building a huge new stadium that won't have any use after the Olympics are over. Brazil will have a Presidential election in 2014. There are a lot of exogenous factors coming into play that non-Brazilians don't fully comprehend. Brazil is looking for money because their economy is not doing well. Until the uncertainty over the tax liability is resolved, the share price will be under pressure. I expect some kind of a "negotiated" settlement, but the real issue is what will the hit be on future earnings which is not factored into any analyst estimate. Longer term, BHP, RIO and VALE will be the low cost I/O producers. I/O will not get much lower than $100, if that low, but it depends on the world economy and how quickly new supply comes on board
Here is a view from Credit Suisse about the potential tax liability:
Tax litigation on overseas subsidiaries: still no provision. As of 3Q13, total
reported amount reached R$30.7bn (adjusted for interest and fees). We expect
further news until 29Nov and we estimate total amount under dispute of
1 Brazilian Real =$.44USD or 48 billion reals = $21 billion USD
I also think we get a little bounce. We are going to be range bound until we get the next earnings report. WTI has been pretty soft, but any little flare up in the Middle East or Venezuela and we could see WTI over $100 in a heart beat.
Pioneer Natural Resources Company (PXD) today announced that Frank Hopkins, Senior Vice President of Investor Relations, will present at The Bank of America Merrill Lynch Energy Conference on Thursday, November 21, at 3:35 p.m. Eastern.
Maybe we get a bounce coming out of this conference. It has been brutal since earnings were released
The market does not like uncertainty. Until we get a better understanding of what the eps hit will be (if any...Vale did not raise a tax provision), you will not get a price bump. This was obvious as soon as last quarter's earnings were released, the shares dipped from over 17 to today's 15.70
I see a lot of talk on this board about the last chance to buy under $37, or trading range 38-42.
I have owned FCX for over 5 years, and ever since their last acquisition, we have been unable to break above $40. WTI pricing is soft and there is a lot of shale oil supply coming on the market. There is also a lot of copper supply coming into the market as well. I like the yield and am hopeful that once some of the debt is paid down, we can see increasing dividends