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$KEG surges ~15% after a board member discloses the purchase of 25K shares, increasing his personal equity stake by more than 6x.
Scott Vogel paid $9/share, or $225K overall, as KEG holdings increased to nearly 29K shares, according to an SEC filing last night.
KEG shares have slumped 15% over the past month and 68% YTD.
$KEG surges ~15% after a board member discloses the purchase of 25K shares, increasing his personal equity stake by more than 6x.
Scott Vogel paid $9/share, or $225K overall, as KEG holdings increased to nearly 29K shares, according to an SEC filing last night.
KEG shares have slumped 15% over the past month and 68% YTD.
My guess was the speculators just got carried away before the deal was ready. Not saying the company managed expectations but I agree a material deal should change everything.
Word is the restricted preferred stock is what’s being used so little to no short term affect to SS. Deal is key, I won’t likely add more until I see something tangible.
Dry bulk orders have surged by 4x during the first 10 months of this year, according to analysts at Alphabulk.
A total of 287 vessels over 15K dwt have been ordered at yards during the period, 43% consisting of panamax tonnage in the first time the group has comprised more than 40% of bulk contracts in any single year.
http://splash247.com/dry-bulk-orders-quadruple-2017-led-kamsarmaxes/
Industry boom: Dry bulk orders have surged by 4x during the first 10 months of this year, according to analysts at Alphabulk.
A total of 287 vessels over 15K dwt have been ordered at yards during the period, 43% consisting of panamax tonnage in the first time the group has comprised more than 40% of bulk contracts in any single year.
http://splash247.com/dry-bulk-orders-quadruple-2017-led-kamsarmaxes/
On the other hand, supramax orders YTD have reached just 85 vessels, which could mean 2017 orders in this group could hit a 12-year low.
At 122 ships, panamax/kamsarmax contracts have topped order levels over the past three years and are the highest since 2013, Alphabulk says.
A total of 287 vessels over 15K dwt have been ordered at yards during the period, 43% consisting of panamax tonnage in the first time the group has comprised more than 40% of bulk
Dry bulk orders have surged by 4x during the first 10 months of this year, according to analysts at Alphabulk.
Pretty tight group here too so float likely doesn’t have much available. Tanker deals are hot if this comes through it’s on.
I have been adding on this dip. Market sentiment is improving for sector. A little more upward oil price and E&P stocks will get solid push. I am posting to UWT board too be nice to see you there.
Seems like it doesn’t want to go lower. I’m a buyer all day at even $120. This is all upside next few years.
I think there’s a trade here for sure.
I agree. Convertibles can be the death of the company if they are owned by a non friendly. Meaning all they care about is selling stock. I haven’t gotten the impression that is in play here. What do you think?
Many companies do it after market. Sometimes they do to try to minimize negative press but others just prefer it that way regardless.
Very good points. I think there is definitely a bottom forming in shipping. There is room for a lot of consolidation. The R/S Kings repeatedly burn investors. It’s no solution if you ask me.
Haha nice charts. Looks like $100 is the new floor. Am I reading that correctly?
Let me see if I can find the link. I thought the preferred has a floor price and it was in our best interest.
Re your other post, certainly some consultants/ management will have shares but this is accustom across many public companies. If there is value there and a real deal then it shouldn’t matter.
$UWT - The total U.S. active rig count rose by 8 to 915 in the latest Baker Hguhes weekly survey, its second straight increase following eight declines out of the previous nine weeks.
The oil rig count was unchanged at 738, while gas rigs rose by 8 to 177 to account for the entire increase in the overall count.
At the end of the third quarter, the company carried a net debt of $6.54 billion, down from $7.17 billion a year earlier.
The company's net debt ratio, which has stayed above 50% level in the last several quarters, fell to 48.3% at the end of September.
A look at the company's balance sheet reveals that it has done a decent job of managing the shortfall.
The company's debt levels have actually declined, even though it faced a cash flow shortfall which often times fuels an increase in debt.
Wall Street is concerned about the future of Apache Corp., which may continue burning cash flows in 2018. But I believe Apache has all the bases covered.
The Houston, Texas-based oil and gas producer has done a great job of managing the cash flow deficit in 2017 and should continue to do well in 2018.
The total U.S. active rig count rose by 8 to 915 in the latest Baker Hguhes weekly survey, its second straight increase following eight declines out of the previous nine weeks.
The oil rig count was unchanged at 738, while gas rigs rose by 8 to 177 to account for the entire increase in the overall count.
Further, Chevron's most recent earnings beat should be attributed to the company's asset sales (totaling $675 million) and not to sustainable improvements in core business segments.
These bright points are not entirely indicative of Chevron's performance history, as the company has posted highly worrisome trends in these areas over the last three years.
Chevron's most recent earnings report was somewhat encouraging, as the company beat analyst estimates both on the earnings and revenue sides of the equation.
$SLB looks like a current sell, or short at current levels due to a number of operational headwinds. Its share price is under heavy selling pressure, even as the price of oil reaches new multi-year highs.
This is largely due to slowing production activity worldwide as its customers focus on a strong financial position, as opposed to milking every last dollar out of rising energy prices.
Schlumberger continues to struggle amid higher oil prices.
Although oil prices are reaching multi-year highs, moderating production investment is clouding the company's outlook for the future.
With no apparent end in sight, it makes sense to add some short exposure by utilizing a put spread.
NM should post better Dry Bulk Segment results in Q4. It is a bit early to predict NM's Q4 results, since many of its vessels are pegged to daily rates in various rate classes, but it is unlikely to generate more than about $10 million in free cash.
The problem is that Q4 will be the strongest quarter for the year, and the first half of 2018 results will likely be lower, barring an unseasonable rebound in rates.
$YINN - China has grown rapidly over the past three decades and, now, makes up over one-seventh of the global economy. It is the world's largest exporter, a top tier importer, and has the largest base of consumers in the world.
Though some reports indicate India may have eclipsed China in terms of population, they do not posses similar purchasing power.
2016 saw average Chinese annual income at 67,569 Yuan (roughly $10,209) as opposed to India which saw a 2015-2016 fiscal income average of Rs 93,293 (roughly $1,436).
STNG says its LR2 segment has been outperforming all other clean tanker sectors so far in the current quarter, with time charter earnings of ~$16.5K/day for 60% of the days, up 28% compared with Q3.
"Current spot markets are stronger than the guidance we've been given for the fourth quarter... we would have not gone through the effort of acquiring the Navig8 fleet without being bullish," STNG President Robert Bugbee said.
Scorpio Tankers is optimistic about its consolidation with Navig8 Product Tankers, as OPEC's surprising discipline is leading to significant global destocking and U.S. Gulf Coast refined product exports have restarted after Hurricane Harvey, the company said in its earnings conference call.
ATHENS, GREECE -- (Marketwired) -- 11/17/17 -- DryShips Inc. (DRYS) (the "Company" or "DryShips"), a diversified owner of ocean going cargo vessels, announced today that it will release its results for the third quarter 2017 after the market closes in New York on Tuesday, November 21, 2017.
HAMILTON, Bermuda, Nov. 17, 2017 (GLOBE NEWSWIRE) -- Teekay Tankers Ltd. (Teekay Tankers (TNK) or the Company) (NYSE:TNK) today announced that its shareholders voted to approve the Company’s charter amendment to allow Teekay Tankers to effect the previously announced merger with Tanker Investments Ltd. (TIL) (OSE:TIL). Concurrently, TIL today also announced that its shareholders voted to approve the Agreement and Plan of Merger with Teekay Tankers. The merger has also been approved by the Board of Directors of both companies.?
Agreed with your points. It’s all conjecture until they close. I like the way the structure has been proposed.
Long term preferred stock can sometimes convert to common over time. But this has a restrictive floor. I thought they already said that would be the case.
I thought preferred stock wasn’t tradable?
Don’t believe they are in the printing game here and that confirms it. The deal is being done with preferred stock too? This would not affect common shareholders if so.