RE:RE:Eric Nuttall - No Love Yet For PIPE / Strathcona
Nuttall and Pipestone - a bit of recent history on BNN:
March 6, 2022: BUY "Owns 7% of company shares. Remains committed to company. Company has 19% free cash flow yield, and is trading at 2.5x free cash flow yield. Share price should appreciate 60% or 4-5x. Expecting company to be bought be someone."
Nov 25, 2022: HOLD "Recent market selloff due to quality of acreage. Current share price presenting good buying opportunity (1x cash flow). Expecting stock buybacks next year. Low conviction on the name."
Mar 24, 2023: HOLD "Good company to invest in, but better names out there. Has sold shares in company. Recent attempt to sell company didn't have success. Lots of gas in production (bearish on gas prices)."
May 31, 2023 Don't buy "Motley name, he wouldn't own. Tightly held by private equity. Disappointing wells. Cheap valuation. Only hope for stock to go up is for company to be bought. He can buy something with better quality, longer inventory, but equal valuation."
Sept 29, 2023 Don't buy "Better names in market. Will face issue of paper sellers with recent sale. Shares not cheap enough."