RE:RE:RE:RE:As expected Pey is red today….Still early as I write this but, it doesn't look like we'll be passing $15 and beyond today. Stock seems to be struggling the day before earnings day. Again...still early.
Personally, I'm expecting a pull back in shares at some point shortly after tomorrow. With that said...I hope your right that we see $17 but, so far...its hard to imagine that price. Stock seems to like tired now. I've raised nice cash to deploy should this pull back into the low $13's.
houbahop wrote: 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 ,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!