The BOTD logic says to take profits at 5% and 10% gains ... .... .. then let the rest ride..
BOTD loves HK!
14.90 +0.81 (5.75%) Jul 30, 9:53AM ET
<-----check out the "big green buy" late on Friday...someone wants to own this stock!
watch as we hit our head on $15/share for a bit...we did already once today.
8 comments:
BOTD.. how are you playing out the HK options? I was in @ 1.70 and the Jan '08 call is now trading @ 2.00 for an approx 18% gain. Sell or hold?
we are a stubborn LONG! (holding)
but it was a good trade for the BOTD site, so please take profits.
good luck
HK caught a nice little upgrade this morning. Seems like a positive sign moving closer to earnings on Aug 8th. Lets hope HK blows earnings away! Maybe it would be wise to hold on the the calls!
Petrohawk Energy upgraded to "overweight"
Monday, July 30, 2007 11:11:44 AM ET
J.P. Morgan Securities
NEW YORK, July 30 (newratings.com) - Analysts at JP Morgan upgrade Petrohawk Energy Corp (ticker: HK) from "neutral" to "overweight."
SNPMarketScopeViewsNews2007-07-30 11:19:02.000HKPETROHAWK ENERGYBBrodieJP MORGAN UPGRADES TO OVERWEIGHT FROM NEUTRALAnalyst Brian Kuzma says HK has significantly underperformed group since announcing it was divesting its non-core assets on June 25... However, thinks management's decisions improved asset base, have better prepared co. for potential sale... Notes recent acreage acquisitions in its core plays have made HK capable of growing production, reserves by 20%+ for several years while remaining within cash flows; yet, stock price is implying below-average multiples for pro forma co... Notes his net asset value for co. is $18.30 per share. |US;HK|39226|144330
BROKE $15!!!!
15.01 +0.92 (+6.53%)
I waited and sold my Jan '08 $15 calls @ $2.15. Good for a 26.5% gain! I was going to hold out but I was robbed of profits on the CAT options! As Cramer says, bulls make money, bears make money and hogs get slaughtered. I'm still holding my Jan '08 $80 CAT calls, luckily they are climbing back up to my entry @ $6.60. Thanks BOTD ;-)
26% gain! hell yeah!
more about the HK upgrade:
NEW YORK - Shares of Petrohawk Energy Corp. rose Monday, as an analyst said the independent energy company's recent decisions to sell off noncore assets have improved the company's asset base and better prepared the company to be sold.
In midday trading, Petrohawk shares rose 75 cents, or 5.3 percent, to $14.84, after peaking at $15 earlier in the day.
Last week, Petrohawk announced plans to sell its Gulf Coast unit to focus on natural gas prospects in Arkansas and Louisiana. The sale process is expected to start in the third quarter.
The company also said at the time it was buying 32,500 acres in Arkansas and actively looking to purchase more natural gas prospects. The acquisition is expected to close in the third quarter.
In Louisiana, Petrohawk said it bought additional interest in more than 13,000 acres and continues to look into acquiring additional acreage and interests in the fields.
JPMorgan analyst Brian Kuzma upgraded Petrohawk to "Overweight" from "Neutral," saying that while the company has significantly underperformed its sector since announcing the moves, the decisions improved its asset base and better prepared the company for a potential sale.
"The recent acreage acquisitions in its core plays have made Petrohawk capable of growing production and reserves by 20 percent plus for several years while remaining within cash flows," Kuzma wrote in a note to investors. "Yet, the stock price is implying below-average multiples for the pro forma company."
Kuzma added that the large acreage position the company acquired in the Fayetteville Shale and around its core Cotton Valley properties should be productive and eventually make Petrohawk a more attractive acquisition target.
The analyst added that if the company experiences continued success at its Terryville and Fayetteville properties, it could be acquired for management's target price of about $20 per share in the next 12 months.
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