Sunday, August 31, 2008

FLOYD: Trader or Traitor? ~ Petrohawk Energy Corporation (Public, NYSE:HK)

Petrohawk (HK) the BOTD "pick of the year" 2007 & 2008 

 We keep saying "we won't sell until FLOYD sells" ... blah, blah  .... this past week FLOYD sold out.

FLOYD was supposed to sell the company, not his own shares.   




Smart TRADER:
Purchased under $12/share in MARCH 2007 ... sold around $36/share AUGUST 2008! 

 FLOYD wins, 200%+ profit in 17 months on a few million. 

Evil TRAITOR:
HK just had a public offering at $26.53 , and few weeks later FLOYD sells?  where is the faith FLOYD? .... hmmmm... HK currently at $34.61 , natgas is off big,  Gustavo is on.   Friends of Floyd say company will be sold above $40.  BOTD says sell HK at $32 or $39,  whichever comes first.  
p.s. no team. Faith in Floyd is lost. 

10 comments:

Big Mike said...

FUCKEN FLOYD! good thing i sold right on firday in the morning

oh well on to better and bigger things

p.s. we still a team with no floyd!

Anonymous said...

can we short hk here?

aymon

sara said...

what's tomorrow trade,


airlines, ngas, ?

jd said...

Today not going as I planned so far.

:-(

Anonymous said...

wow... what is going on here... down 13% Is this a drop or do we wait?

BUY ON THE DIP said...

as promised,

we sold HK today at $32ish

up 74% YTD

fuck floyd.

Anonymous said...

Petrohawk CEO Swoops In for Stock Sale
By ALEXANDER EULE | MORE ARTICLES BY AUTHOR
Floyd Wilson sold $8.9 million in shares of the oil and gas company.

Petrohawk Energy's (ticker: HK) chairman and chief executive officer bought stock in his oil and gas company in March 2007, as the commodity boom sent the stock soaring. With shares having more than tripled since that purchase, the CEO decided to sell stock last week.

CEO Floyd Wilson sold $8.9 million in stock last Wednesday and Thursday. Wilson received an average of $35.45 per share for the 250,000 shares sold, according to a Friday filing with the Securities and Exchange. That price compares favorably -- for Wilson -- with the $11.60 per-share average he paid for 100,000 shares in March 2007, according to data from InsiderScore.com.

Including exercisable options, Wilson still owns over four million shares, or about 1.7% of Petrohawk's outstanding stock.

Last Friday's filing noted that Wilson's sales were for "estate planning purposes." A company spokeswoman did not return a call seeking additional comment on the transaction.

At least in the short term, Wilson seemed to have made another well-timed transaction. Shares fell 11% Tuesday to $30.67, with Petrohawk and its peers pressured by the continuing slide in oil prices.

Heading into Tuesday's session, Petrohawk shares had gained 145% over the last 12 months, compared with a gain of 28% for the DJ U.S. Exploration and Production Index.

Petrohawk focuses its drilling in North Louisiana, Arkansas, West Texas and New Mexico. The independent oil and natural-gas company reported revenue of $520 million for the first six months of the year, an increase of $77 million from the prior year period.

Wilson's stock sale represents something of a shift in insider patterns at Petrohawk, according to data from InsiderScore.com. Earlier in August, six company insiders combined to buy $888,000 in stock, at prices ranging from $26.78 to $30.94.

Meanwhile, in mid-August, the company conducted a secondary offering of 25 million shares at a per-share price of $26.53.

Sterne, Agee & Leach analyst R. Michael Henzi cautions against reading too much into Wilson's stock sale.

Henzi says that Wilson has "made no bones about the fact that he was going to sell the company" in the long term.

Henzi has a Buy rating on Petrohawk with a $40 price target. He says Petrohawk is exciting due largely to its control of significant acreage in the potentially natural-gas-rich Haynesville Shale. Petrohawk owns or has agreements to acquire 300,000 acres in the Northwest Louisiana/East Texas location.

In an Aug. 6 update, the company said it expected its 2009 production to grow by 30% to 40%.

On average, analysts surveyed by Thomson Reuters have a price target of $59.80.

Jim Collins said...

Oh ye of little faith, after Floyd has blessed you with massive profits...

Anonymous said...

ya, really... the guy still owns 4million shares!! Maybe he needed some cash to buy a new private jet?

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