20
Aug
Wrap – Week Ended 08/19/16
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The ZLT ended the week up 4% and is up 38.5% year to date.
The XOP ended the week up 5% and is 24.9% year to date.
The Blotter is updated.
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Z – could you share your thoughts on CRK?
I had asked about them 15 months ago or so. They've yo yo'd a bit over the last 12 months going from $6 / share to about $26 down to $3 and change and then to friday's closing of $6.15
They have $60+M in cash and $1.1B in debt. Obviously wouldn't be on your short list, but they seem to be hanging in there better than most with distressed balance sheets and have historically had strong leadership.
I'd be looking at them more as a spec play. They were a $5B company back in mid-2008 and curretly have a market cap of about $374M.
August 20th, 2016 at 5:17 pmZacks has a 2 rating on CRK which is a Buy. 8 analysts following have them as a hold.
August 20th, 2016 at 5:21 pmQuestions and comments will be addressed in the Monday post.
August 20th, 2016 at 5:22 pmsounds good. Thanks
August 21st, 2016 at 1:27 amThis weekend several Interesting articles on the situation in Nigeria……………all concluding it will get worse, as the most potent group (to cause damage to oil infrastructure) is fragmenting into multiple groups, and no longer has any central leadership with which the government can deal with…………………not that the Nigerian Gov't has been very effective in dealing with any of the groups…………………and paying EXTORTION to MEND has only encouraged the formation of more NEW groups……………….intent on getting in on ' GETTING PAID FOR NOT DOING SOMETHING.'………………….perhaps we could send our leaders in welfare to Nigeria to learn some new ways to give money away.
August 21st, 2016 at 4:15 pmre 5 – NDA apparently agreed to a cease fire this week end.
August 21st, 2016 at 4:20 pm