Post by
scienceguy36 on Dec 02, 2024 3:12pm
GXE being restructured
Have liquidated my position in GXE and looking for comparable dividends. I have bought into CJ at $6.41 while i was looking at their financials in depth. Having spent nearly 45 minutes going over their financials i am now thinking of selling. I cannot figure how they can pay the dividend when WTI is below $70 and WCS below $56 without using debt! I can't sell until tomorrow as my bid was only partially filled at 6.41 and can't resell the shares i bought until the order is filled or expires at end of day.
I have been looking all morning for an oil stock that either pays a comparable dividend or that may have some share price appreciation.
GXE was an exception to what i am seeing in all the oil stocks that i have considered. Without exception they are way overleveraged in a still relatively high interest environment and low oil prices.
I have been reading comments in multiple bullboards questioning why their stock is not out performing. In close to 100% the answer is Debt and Oil price. (I consider Dividends as a debt obligation) These stocks tend to hold the status quo if oil is around $75 because they can manage the debt. At $80, they can manage the debt and make a profit, and the SP rises.
I am still looking for that Gem. If not, after 5 years of investing in oil stocks i will have reprogram my brain and look outside energy stocks.
Comment by
scienceguy36 on Dec 02, 2024 3:58pm
Order got filled at 6.41 and then SP jumped to 6.45. These wild fluctuations will take a bit to get use to. This might be good for day trading but will have to wait and see.
Comment by
pkrash on Dec 02, 2024 8:55pm
CJ has no problem with the divi or the current project financing. CJ is nothing like GXE. Maybe investing in stocks is not for you. Try ETFs and GICs.
Comment by
martman16 on Dec 03, 2024 9:19am
I have owned cj for over 10 years, and yes tripled down during sub $1. This stock has been set up like an atm by the board and most likely largest holder Mr. Edwards. The just choose to give the majority of their earnings back to shareholders by means of dividends. They can change, alter and pivot at any time in case of economic conditions. Set it and forget it.