Not so fastDon't be overly surprised if you see an upward tick in spite of the dissapointing earnings report.
If you have access to Reuters, you will find a headline, in today's news, reflecting a well reseached article compiled by four business reporters about the big guys eyeing the opportunities for acquiring companies located in the very regions that POU operates, on the cheap.
Monterey, Duvernay, and Clearwater are specifically included. In today's financial report, it was mentioned that more acreage has been accumulated in these areas by POU. Some of it had been held confidentially.prior to the report.
Gas is an apparent priority, And it was pointed out that the Montney shale formation has only been tapped for 8% of its recoverable gas.
If these rumors hold water, downward movement in the stock price may prove to be an opportunity to accumalate shares in the likely event of a takeover or rumors of such.
ARC (ARX.TO) was mentioned to be a potential candidate for acquisition. It would be interesting to see if this news moves its needle.
A while back, MHP mentioned that the price paid for Pioneer made POU worth a lot more than
its current valuation. Apparently, potential suitors feel the same way.