PRY.V
Brought some PRY.V. here is what I like.
1) PRY.V has gotten hammered and is at 52 week lows despite very high energy prices.
2) PRY.V is cutting costs, and this should be expected to add to profitability going forward. Their cost cutting plan will make them be more profitable.
3) PRY.V trades at a severe discount to book. Which is approximately $1.50.
4) PRY.V is cheap now, eliminating charges earned about .021 this quarter. Keep in mind there cost reduction program is just starting, and after q3 drilling should pick up again significantly.
5) PRY.V by q1 could put up some eye popping eps numbers. I wouldn't be surprise if q3 which will be the bottom in earning and revs be around close to .02 EPS, I expect it to climb from those levels.
Conclusion: I will continue to buy PRY.V on weakness the stock is simply too attractive at these levels not to purchase some it is priced for failure at this point. And I think at these levels it is cheap, add in possible success in q4, I expect the risk/reward atthis point is heavily in your favor. All is just my opinion, and I could always be wrong though.
