RE:RE:RE:As expected Pey is red today….PEY has crossed $15 4 times in the last 2 years.
Three times I sold to buy back under $12.
I might stay on the side line this time and wait for a pop that would test $17.
I expect CF from operation to hit an all-time high in 23'Q4, around $235m or $1,20/share and
Net Free CF (CF aftex capex) around $120m or $0,62/share, also an all-time high. 24'Q1 should realize similar results.
The market might have a positive reaction to the PR tomorrow, that I expect will break $15 on the upside.
On the technical analysis side, the long term chart couldn't look better after 2 years of consolidation.
The only dowside risk I see is if Natural gas strip strong contango starts to flatten with later contracts getting hit and Peyto's new hedges being sold at a lower price.
Cheers!