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In due time. Long term. I rather see some accumulation at these levels because we trend upwards.
Like I said, I will be in and out, but will try to keep some free shares then invest once I see oil stabilize a bit.
My ETF i own (XOP) owns a bunch of shares in DNR as well, so I have some exposure there as well.
We will see...I am in for around the same. It all depends on that 10-k. Maybe I should of waited to see how much cash they got on hand...Hopefully SUNE didn't eff them over.
The market woke up last year and realized the MLP model is unsustainable. You can't continually distribute all your net cash flow and issue shares and debt to fund fixed assets. Its like depreciation isn't a real expense... maybe so for REITS, but who thinks ships and pipelines don't go down in value and eventually need replacing? Eventually most MLP's would go bankrupt since they wouldn't have the reserves to fund asset replacements. Reminds me of a ponzi scheme. That said, CPLP is now selling at close to liquidation value. Their credit facilities require the collateralize'd fleet to have a current market (i.e. saleable) value of no less than 125% of outstanding balance. This would give a minimum fleet value of $740,000 as of 12/15/15 and result in a fair market value (i.e. liquidation value) of $2.93 per unit. Unlike some other MLP's like KMI, CPLP is actually profitable. If I were management, I would pull out all stops to buyback as many "30%" units as possible. My plan would be: fund additional MR tankers and buy back 10% of units with ~10% financing and cut the distribution to 60 cents. This would generate an annual reserve addition of $75,000,000 and give them the flexibility to pay down debt coming due in 2018 and 2019, self-fund further fleet additions and/or buy back more units. I think this is exactly what they are trying to do now. The market would react very positively IMO. At today's unit price the yield would still be over 20%. Any way you look at it, CPLP is a very good buy below $3.00.
Added some shares around 2.05$ today. Let the fun begin.
Too much going for it? Haha yeah too much debt. Don't defend a company that can't even figure out its' own financial statements...
Hahah good one.
What are you on, Dope?? Look at all the signs, everyone is dumping this. Why? Because the writing is on the wall.
Nope...Maybe when it gets to like .50$ if you want to take on some extreme risk/reward. Nothing about this management is something I want to be involved with, however, since I indirectly own this through the XOP etf, I'll pull for them. Read through all the news, they are sinking and maxed their credit and they want to INCREASE Authorized Shares...and then do a R/S. Stupid.
Wow....Love calling things right. Hahaha. Too bad I can't short this. :P onward to under .90
...No way. We are headed to $.92 or lower today. Onward on to deeper pennyland. No way this is coming out to 1.10$ anytime soon!
Some Profit is better than no profit. I do not see oil going to over $50 for a large part of this year. I personally believe that we are headed back to $30(ish) oil in the short term. I was right about my predictions that DNR would go sub 2$, I think we are close again. I bought some at 1.03$ sold at 3.5$...Have been in and out until I feel that I have enough shares to let sit for 2+ years and when DNR will go back to 10+$ a share. I don't know if we will ever see DNR go under 1$ again, Maybe...MAYBE 1.50$. I don't know. I do not have any shares right now. I got in at 1.97$, sold at 2.5$ recently. Will go long when oil will stabilize.
Called this awhile ago. Hope you all listened to me ....
You forget to mention that 5 million shares have been sold today! And probably at losses because they can't trust this management anymore. I don't. It's time to preserve some capital and cash out of this stock.
LOL This management is horrible. Please, if you are looking at comps, please look at Denbury resources. They are similar to SGY, but way better structured and have over 1 billion in a revolver left. (If they need it) But they have good structured debt. Just a opinion. Look at SGY...Let's approve A/S then reverse split. WTF? Why would you reverse split this low float already? R/S is basically a bad sign. Idk. Hope you all didn't lose too much on this turd.
Hate to say I told you so...but I told you so. Looks like no beer for you. Which sucks because I actually want SGY to do well because I own it indirectly through XOP.
Still under 2$ I see...Sucks. Today would of been the day for it to even come close to sniffing 2$. Alas, my other O&G stock is doing well. I would recommend moving money into other companies...
I'll bet you a beer that doesn't happen. hahah
Please tell me why in the world oil will go up? You are not looking at facts. Oil is NOT going up. We will see oil hit 30$ before it hits 45$ I'd venture to say we will see it go to 27$ before 43$! There is no way this is going up anytime soon. Don't hold your breath.
Haha well you are about to lose a pretty penny or two. No reason for this to go back up. Way too much oil in the world being pumped.
May be sooner than that. It's going to break through the 52 week lows this week. Oil is going back down. Too much oil.
SGY is going to break through it's 52 week low. I think everyone holding needs to set some stop losses. This is falling as oil is definitively going lower
All I am saying is oil is going back down and bringing these smaller O&G companies with it. SGY, DNR (personally I like Denbury more than SGY), ect...I still own XOP, but I mean nothing has changed. Oil is still oversupplied and until we get into summer/fall when we see a major amount of reduction of Rigs...the price is going to go back lower. I do think we should see stabilization of oil later this year around 45-50$ but this is all speculative. Time will tell though.
I do not see 46$ oil coming this month. We are going to see sub 35$/barrel before we see over 45$. Why do you think all these oil stocks are down? Oil is going back down, Opec meeting isn't going to happen. Iran is already saying it is going to ramp up production. Too much oil right now. All hype. I got out of most O&G plays for now with nice returns.
Mostly because of Iran pushing for more Oil production. Not a great sign. Though in the long term I feel that this is still a solid company, but oil price is really going to force this back down to the $1.xx prices.
Once again, I am getting a strong notion that tomorrow or even today we may hit under 2$... I've been pretty on with my predictions.
3's aren't happening today. Maybe late next week.
Don't worry, It's all about the hype on oil. We will Definitely see movement green in a week or two. I'm telling you, once March 20th comes that's going to be a good day. And the hype leading up to it. JMO.
Another Proper call from me it seems. ...I did pick up a few under 2 (1.98) this morning. Just what I wanted. Looks like we got there sooner than I thought.
True, I was in at $1.03 a share. Sold for $3.5. I think we will get under 2$ a share, not by much but I do think that will happen. Time will tell, if it does it will happen next week before they hype up the OPEC meeting. Looks like friday/early next week should be the prime time to get some shares, hopefully we get to where i want to be though haha.
Definitely think it will go under 2 again. No news is what kills DNR. If there is news that comes out saying "More Freeze talks" "Iran will freeze" then it goes up on that. Oil went up today, this went up a small %. Next week should see some pull back to under 2. JMO. I want to load up under too and leave it for a year or two. GL
Still think we are going to see DNR drop under 2$. Just a feeling...Even as news hits today, this is barely going up (And I have a feeling we might close red again today). I hear what you are saying about the Rig numbers being decreased...but also we need to look at consumption as well and that is decreasing as well. I feel the pullback is still going to happen. Technically nothing has changed since before the rise of 300%+. We are going to fallback, though I do think in a month or two we will see oil stabilize to around 40$ a barrel. JMO Going to be an interesting week...
I agree. Though I am going to be in for the long haul...(I really do like Denbury's management and operations). I am glad that I sold for profit, and mostly I'll be in and out trying to add some free shares until after we see some stabilization. The main thing is going to be OPEC and if Iran is going to freeze production. When the rig counts also start to fall here, we will see a trend up in oil prices. Until then...it will be volatile. But I do know DNR in 3-5 years should be a great investment from todays prices.
And looks like I was pretty spot on with that pullback. Happy I got out yesterday. Going back down...I'll see you DNR around 2.1$ a share....
SDOC is going bankrupt and is run by morons. There is no denying that. I'll stick to Denbury. I actually really like their CEO.
Another fantastic day. Sold off my initial investment (plus 50%) will ride out my free shares now. I am going to go out on a limb and say that DNR is going to see a pullback to under 2.70$ a share in the upcoming weeks. When that comes, I'll look at purchasing some back. Good luck everyone, secure up some profits.
I liked what I heard. They reduced Debt, are more liquid and have hedges for 40.77 a barrel into 2017. Seems like the CEO is doing all he can to make sure the company is protected...Looks like it could be an interesting day. ONE THING TO NOTE** There is no lawsuits against Denbury. This is another reason why I think they going to be a winner in the longrun.
They don't have any major debt due for a few years. They have that credit line of 1.2B and only drawn 200m If I am correct. At these prices...I wouldn't be surprised if they are scraping any cash they can for shares. Denbury has been conservative with financial maneuvers...we will see tomorrow!
All we need to see is the company buying back shares. I'm expecting them to have bought back 10mil/20mil shares. JMO
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