RE:This may be what Warren calls intrinsic value investing nowYou might be right about the bottom being in. I had thought $.60 could have been it and I was waiting for the share price to hit it to average down but it never quite got there. There may be another chance to before the summer cycle and recovery starts to affect the entire sector.
I can see a certain similarity in GXE's position to WCP's but believe WCP may fair better just because of liquidity. This small cap stock's liquidity worries me a little.
CJ is in a much better position than both IMO and quite honestly if that is what GXE is competing with it's share price might have to drop lower to compete with CJ's yield to attract investment. I only like GXE's debt position over CJ's and if commodity prices stay higher and the WTI-WCS spread narrows then GXE might gain some traction in the market but then so might they all. This sector got a litlle beat up over the winter but it always does. Sunny summer driving may fix it all up for everyone.
GLTY and all
w8asec wrote: It's possible we're oversold and bottomed...
Compared to certain peers (CJ,WCP), we look good now at this pricing... P/E is really low at 3.8 compared to 5.1 & 5.9
Payout ratio seems to be only 50% compared to 70%
Debt to production is lower also.
Time will tell, but I think I will keep a few stink bids active.