Gear Energy Ltd T.GXE

GXE

[WONDER1STOCK]

Selling your shares because of Nutall may well be a big mistake. Eric sold all his shares in ATH a couple of months ago and ATH has steadily rose in share price. Last week or so Nutall bought 55,000,000 shares admitting it was a mistake and he should have held. GXE has free cash flow and will have more in 2nd.qt. So judge for youself but foe me I will hold my shares. glta

[CandyC]

Wonder, I ain't selling either. Too many good things going for it plus NCIB should do wonders. I wonder if Eric holds any options on Gear of a way of getting around of saying he doesn't own the stock? 

[geezer21]

Eric did not sell because he did not like Gear.  He made 150% on Gear. He is quite fine with Gear. He only sold it to move the cash over to Ovintiv, a larger cap company, where he could get more liquidity.  (Not exactly sure how he see that). He was only juggling his portfolio around to met the overall objective of his fund.  He wanted Ovintiv in his portfolio to fulfil a role

[Allinontheturn1]

Yes that's fine that Nuttall can sell his shares when he sees other opportunities.What's not fine is he changes his numbers on the stock after he sells it ! Just go back and watch the previous marketcall he was on when he said GXE target price was $3.08 that was a 100% upside at $1.52. Now that he sold the stock it's only 2.29 ?? WTF  I guess we are worth less now that we are

[CandyC]

Nothing to worry about. $120WTI so Gear's profit is outstanding. Q2 reporting should be out of this world. Perhaps they are saving for the one time NCIB purchase?

[geezer21]

With Eric's fund at 2 billion now, he has to buy large caps to get more liquidity.  He had to sell Gear and Cardinal.  For the same dollars he only had to buy fewer shares of Orvintiv or any other large cap. For example, with Orvintiv at $57.47 and Gear at $1.59 as of Friday,  to move 31.8 million dollars, Nuttall would have to buy or sell 20 million shares or 7.7% of Gear

[marketsense]

Again,  the point is he changed his projected outlook on GXE without explanation. I agree,  that is what is bothersome if not disturbing.   Obviously his priorities  are differrent when running a huge fund.   It  makes sense to avoid the smaller cap names  but that is no reason to change his opinion as an analyst unless he sees something concrete in GXE

[Mackthenife]

Let’s hope GXE reacts the same way ATH did when Eric sold. I’ll take a double from here, like I did with ATH.

[jake12116]

I like and respect EN however he's not always right  This company at this price is a bunch of green lights in a row 

[CandyC]

If his initial target just 3 months ago was $3.09 at $100wti and since then WTI has been a average of $110 then I would suspect that by year end would be over $3.00. White Tundra has Gear at $2.71 @$100 and $3.25 @$110