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Started By
Message
re: Stone energy. Anyone with info
Posted on 5/12/16 at 4:09 pm to crazycubes
Posted on 5/12/16 at 4:09 pm to crazycubes
They'll have to eventually deal with the possiblity of being delisted from NYSE.
0
Posted on 5/12/16 at 9:34 pm to Omada
quote:
It doesn't take inside info to read the 10-K of a public company. And if you do read SGY's, you should pay attention to their debt levels, the maturity dates of said debt, and that they say in their own report that they'll likely end up defaulting and/or going bankrupt in a matter of months
Yeah I don't mean to sound like a dick or come off in a demeaning manner, but shite, it's written in black and white in their filings.
Stone was hoping for a hail marry and oil prices to spike enough to get them to agreeable terms with their creditors and avoid a reorganization. At this point, that seems highly unlikely.
I don't need insider info to see that from a public company.
Posted on 5/13/16 at 7:40 am to LSUAfro
I don't want to sound like a dick either. It's just that the first page of this thread has a link from b-rab 2 of their financial ratios and a link from me for the 10-k, which includes the page number of the balance sheet and a quote pointing to defaulting soon. That kind of information is about as unbiased as you can get (and public), and both of those point to SGY's dire situation.
Side note: I use WSJ's website for a quick look at a company's financial ratios. Link for SGY's page on WSJ. The efficiency section in particular seem to show that the company is bleeding out.
Side note: I use WSJ's website for a quick look at a company's financial ratios. Link for SGY's page on WSJ. The efficiency section in particular seem to show that the company is bleeding out.
Posted on 5/17/16 at 10:39 am to Omada
AND THERE SHE BLOWS!!!!
Posted on 5/17/16 at 11:05 am to crazycubes
What happened? Chapter 11?
Posted on 5/17/16 at 11:20 am to crazycubes
?
Posted on 5/17/16 at 11:43 am to TJG210
Looks like they're about to be delisted from the NYSE.
LINK
If you're still hanging...I recommend getting what little you have left out.
LINK
quote:
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
During the week of May 16, 2016, the Company expects to receive formal notice from the New York Stock Exchange (the “NYSE”) that it is not in compliance with the NYSE continued listing standards. Section 8.02.01B of the NYSE continued listing standards states that a company will be considered to be below compliance if its average global market capitalization over a consecutive 30 trading-day period is less than $50 million, and at the same time stockholders’ equity is less than $50 million. The Company is considered below these criteria because its average global market capitalization has been less than $50 million over a consecutive 30 trading-day period and because its stockholders’ equity was below $50 million.
If you're still hanging...I recommend getting what little you have left out.
Posted on 5/17/16 at 1:58 pm to Brettesaurus Rex
Southcross Energy filed bankruptcy back in late March and since then their stock has tripled. It doubled the day they filed.
Posted on 5/17/16 at 2:06 pm to LSUChamp06
quote:
Southcross Energy filed bankruptcy back in late March and since then their stock has tripled. It doubled the day they filed.
It depends on the type of bankruptcy. I think certain chapters (7) will cancel shares (aka the shares will be worth 0). With Reorgs (11, 13) I think it just depends on the circumstances.
Posted on 5/17/16 at 2:09 pm to rmc
Correct. If Stone were to file, it would be the reorganization type of bankruptcy.
This post was edited on 5/17/16 at 2:12 pm
Posted on 6/15/16 at 4:55 pm to LSUChamp06
Are they going to pull a rabbit out of the hat with this one. Am kicking myself, had I stayed in I would have doubled my money. Came up with the 29M to pay the interest on their senior notes and payed two payments towards their draw downs.
Posted on 6/15/16 at 5:38 pm to GREENHEAD22
Look again, man. They did a 1 for 10 reverse split a few days ago, probably so they can stay on the NYSE. Look back at March on the chart and you'll have a rough idea of your reverse split-adjusted cost basis. You would have been roasted unless you were short or bought in May.
Posted on 6/20/16 at 7:24 pm to Omada
Ended the say +23% after a couple stead days of growth. Will they make it back from the dead?
Posted on 6/21/16 at 9:40 am to Brettesaurus Rex
Starting the day with a 13% jump, let's see where this bad boy goes
Posted on 6/21/16 at 1:26 pm to Brettesaurus Rex
Thought you got out? In at $0.37 here.
Posted on 6/21/16 at 8:35 pm to iknowmorethanyou
I got out in that last spike before the split at like 1.06. My original buy in average was around 2.00.
Now after the split, I bought in again around 6.47 to try to recoup and actually got a nice chunk back over the last couple days. I'm actually mad at myself because I couldn't get into my brokerage account fast enough trying to buy in on morning and could've been in around 5.50.
Now after the split, I bought in again around 6.47 to try to recoup and actually got a nice chunk back over the last couple days. I'm actually mad at myself because I couldn't get into my brokerage account fast enough trying to buy in on morning and could've been in around 5.50.
This post was edited on 6/21/16 at 8:41 pm
Posted on 6/22/16 at 8:38 am to Brettesaurus Rex
Already up 16% this morning, jesus. Something has to be going on
Posted on 6/22/16 at 8:56 am to Brettesaurus Rex
quote:
Already up 16% this morning, jesus. Something has to be going on
Yes. You're making money!
Posted on 6/22/16 at 10:09 am to GREENHEAD22
quote:
Stone energy
That move was nothing more than a dead cat bounce. They are leaking money right now and the assets they have are at a discount. Meaning some of the leases are valued 85( top dollar for acreage with a possible 3/16 royalty on them) a barrel near top dollar but the only offers are at the 45-49 range right now. Can probably pick up their building for a nice discount in about 2 years...that is how bad they really are.
Posted on 6/22/16 at 10:09 am to Brettesaurus Rex
quote:
I got out in that last spike before the split at like 1.06. My original buy in average was around 2.00.
Now after the split, I bought in again around 6.47 to try to recoup and actually got a nice chunk back over the last couple days. I'm actually mad at myself because I couldn't get into my brokerage account fast enough trying to buy in on morning and could've been in around 5.50.
Have fun with the nasty wash sale rule. That thing isn't fun at all. But it's all in place to protect the average guy, ain't that right, SEC?
Anyway, they actually came up with the interest payment during the grace period. S&P still has their debt as CCC-, expecting bankruptcy, default or debt restructuring in the next 6 months. They expect liquidity issues and another decrease in SGY's lending facility. If SGY can avoid that, they still have $300 million to pay back in loans in March 2017.
And despite all of that, people are falling over each other to buy a stock with an EPS of -$172.
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