RE:RE:WHY VET DOWNstockmarket wrote
]Most likely it's being kept down by big hands before the earnings date at month's end. At one time, shares would be very volitile days or even just 1 week prior. Nowadays, it seems like they move dramatically long before the actual date.
VET was a $10 stock one month ago and look at it now. Forget the fact that VET was a $60 stock price just 5 yrs ago and with a hefty dividend payout. Those days are..... GONE FOREVER!!
But as I write this, it is now below $6! I wouldn't be one bit surprised if we see VET share price below $5 at one point. I'm not calling it. I'm just saying it won't shock me if it does.
I was buying occasionally a few weeks ago and brought my cost down but, now I'm waiting until earnings day and see what they have to say. As I said previously here...I'm very long the stock providing that the debt is being " attacked" . But If see more inflation in that area......its bye bye for me. Too much risk then imho, We'll see though. Balance sheets really do matter now.
But imho.....I really doubt we'll ever see VET stock price over $20 a share. Unless, big mergers/ buy-outs etc take place, but that is a whole other ball game. And, I expect that will happen a lot sooner than later once this sector becomes in slight favor again.
Transat500 wrote: WTI and BRENT up .30$, VET down 3.58%.
Go figure.
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I dont see how anyone would think that they would be bringing their debt down in the last quarter when they were selling their oil for $30 per barrell. They were cashflow positive in the last quarter guaranteed.
Now that oil is in the $40 range they are likely making a small amount of positive cashflow maybe $25 million per quarter. At that rate they will need a long time to significantly pay down their $2.2 billion in debt while burning up nearly 100 thousand barrels of oil resources per day.
Thats the reason this along with most other oil stocks arent going anywhere fast these days. The only thing that will change that is higher sustained oil prices.
When that will happen is anybodies guess.