Post by
Sukhi19 on May 02, 2024 10:03am
Buy When Others are Afraid.
Golden opportunity.
Only reason that SP is not moving is that market is expecting another deal.
With Tranmountain pipeline in service, Canadian O/G should thrive.
Buying at these levels.
Even if they buy another company, SP will fall a few cents which will create another opportunity.
Comment by
tylerreddick on May 02, 2024 10:07am
Well, they did spend a couple of billion dollars on a nat gas property that isn't producing much, if any profit these days.
Comment by
barneyj44 on May 02, 2024 10:39am
Personally with the nice monthly dividend checks I can wait until Natural Gas prices improve which they will. Companies have throttled back on production, our day will come.
Comment by
tylerreddick on May 02, 2024 10:44am
The only problem is the dividend may not be sustainable. In Q1, they had to borrow to cover the dividend, as they had negative free cash flow.
Comment by
barneyj44 on May 02, 2024 11:18am
Dividend is covered all the way down to $50 Oil, the company has mentioned that for close to 2 years now.
Comment by
tylerreddick on May 02, 2024 11:19am
Yeah, well maybe you should look at the Q1 report instead of making yourself look foolish?
Comment by
baranja on May 02, 2024 12:04pm
what are you trying to say?
Comment by
barneyj44 on May 02, 2024 12:25pm
If your scared get out.....
Comment by
masterthink on May 02, 2024 3:26pm
Hey Barney are you frustated .. don't you !! Take it easy funky dude......
Comment by
barneyj44 on May 02, 2024 4:24pm
Okay, tomorrow's another day.
Comment by
DivChase on May 02, 2024 11:20am
I believe that was solely due to a useless purchase they made of $150 million. Dividend appears safe
Comment by
baranja on May 02, 2024 12:01pm
Possible,.. I think that 150 million purchase was what market didn't like,.. me neather. I don't know why did they do that. I also think they are slugish because of Nat Gas prices, but over all they are solid. I think WCP is just giving opportunity to new people to get into OandG sector.
Comment by
DivChase on May 02, 2024 3:15pm
That plus the horrible decision to buy an American NG specialist for almost 2 billion. Those Assets are probably bleeding red ink now THE GRANT sure has had a horrible year and a half.
Comment by
DivChase on May 02, 2024 11:09am
If that is true, why doesn't THE GRANT come out and declare no purchases for a couple years like others have done? Either he doesn't care about shareholders as much as many here think or he is actually going to make another stupid purchase that looses money (NATGAS)
Comment by
Anschutz on May 02, 2024 2:30pm
I think the bigger concern is with where the price of oil is heading. I thought it was going higher but instead appears to be breaking down.