RE:RE:TOU take PEYIf you gave me $24 for PEY right now I may take it, only for one reason: 1: there are a lot of other companies out there to go into right now at reasonable prices, especially on this dip.
However if TOU did this would their price not drop also? at least to some degree? or maybe go up because PEY is such a great deal.
One mentioned about PEY's low ownership by management, this is probably due to being fully invested in one or several oil and gas firms already. Even at $1 per share or $2 they may have had a hard time finding the funds not that they would not want to. Or the timing to buy was missed for the short windows management are allowed to buy and sell shares.
I had that problem as a portfolio manager and it hurt me a few times.
Maybe when PEY gets to $30 to $50 someone can come in and take it over. I can see their production levels getting to 120,000 to 140,000 per day in a couple of years at current prices. They need this for the new Cascades plant coming soon in 2023. Only six months left in this year.
Add in a potential for 2025 LNG yes I can see other companies wanting them for sure.
Was thinking today of going 100% PEY but some of my smaller positions actually do better on growth days, not to hinder the fact they fell hard too.