RE:RE:Agree with Previous PosterProblem I have is many oil stocks are above 5 year highs....$SGY IS NOT....also we are in the same spot production wise with about the same debt and a share count probably 30% higher than before March 2020...so even if up as much as it is it is still down over 50% from highs..I am fortunate...I am up on this investment but many are not...our CEO enriches himself with dividends on shares he did not fully pay for while other are getting shafted on their principle investment..
wonder how many would prefer the stock price 30% higher with no dividend paid?
uwebb429 wrote: SGY was up over 100% last year, 70% the year before that and Paul guided the ship through the nasty Covid storm during 2020. Not sure why people want to tie him to a tree for a flogging. Should we blame Paul for Covid? Should we blame him because the price of oil has dropped over 25% during the last 12 months?
The recent debt that was needed to acquire the Enerplus assets was money well spent. They had been waiting years to get their hands on those assets. When they came up for sale at a good price, they jumped on them. Not all debt is bad debt. Q1 will be the first full quarter where cash flow from these new assets starts flowing in. Give them some time to start taking advantage of what they recently acquired.
Hopefully next Wednesday after the Q1 results are released, they can take the muzzle off Paul so he can talk more about their recent Frobisher results in SE Saskatchewan. Things are progressing nicely. The value of their new assets in this area will become clear. Maybe they were the ones that opened up their wallet at the recent land sales. Good for them if they did.
https://twitter.com/JeremyMcCreaCFA Once the price of oil inevitably heads back up later this year, SGY will follow along. I will sit back and collect my 5% dividend while waiting for the recovery.