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Hurricane Energy downgraded to Underperform from Outperform at RBC Capital RBC Capital analyst Al Stanton downgraded Hurricane Energy to Underperform from Outperform with a 1 GBp price target.
Read more at:
https://thefly.com/n.php?id=3163693
With an outperform target of 25p. Best not to miss that bit out hey I'm sure you didn't deliberately lol.
Target price of 1p would be if from this point on Hurricane underperformed further on top of all the kitchen sinking news we've had to date. Given the news to date anythings possible but very very unlikely imo.
On the flip side the 25p outperform target demonstrates considerable upside if a number of things are achieved including but not limited to :-
• Agreement with stakeholders on finance
• Buyback of some of the debt given current
bond prices.
• Compelling plan produced to revise
upwards potential oil reserves and restore
production through both wells (water inj
being one option)
• News on Lincoln/Warwick with Spirit
(hopefully Spirit and Hur on same
wavelength now)
• New bod appointments
• Further commitment from CA
• Clarification on Kerogen's position
mcadder,
I think you need to understand how broker ratings work lol.
RBC Capital broker rating was "underperform" with a target price of "1p".
Meaning that the broker is expecting the share to underperform in comparison to the general market/sector, and they are expecting a target price of 1p.
But as people have mentioned here, it's just a brokers note. Don't pay attention to it and do your own analysis.
Don't be a sheep that follows shorters/brokers. Be a lion, do your own analysis to beat the shorters/brokers. They're in the same boat as you with information available.
Slift
Tuxedo8,
Stop being in denial. Marketbeat is outdated, 25p target was from the 26th May.
here are some links for the updated rating dated 22/09/20:
The Fly: https://thefly.com/landingPageNews.php?id=3163693&headline=HRCXF-Hurricane-Energy-downgraded-to-Underperform-from-Outperform-at-RBC-Capital
Morningstar: https://www.morningstar.co.uk/uk/news/AN_1600763886952616800/uk-broker-ratings-summary-rbc-ups-imperial-brands-bat-to-outperform.aspx
LSE: https://www.lse.co.uk/news/HUR/uk-broker-ratings-summary-rbc-ups-imperial-brands-bat-to-outperform-7dkp3sqiw7flp33.html
DYOR.
My conern after today's RNS is that Kerogen are or might well be preparing to bail out?
We will see what transpires.
Also do not trust CA as they will be waiting in the wings to sell on the next good news inflection point whatever that might be, going to be a harrowing time for LTH's, IMHO.
Jiffy, almost 1 billion shares have changed hands last 10 days... If they were getting out I am sure they probably pretty much already have!
Greg,
yYu may well be correct, in which case a TR1 will be due tomorrow??
Depends on the jurisdiction Kerogen are based on and what their thresholds and rules are...
Greg,
Got a feeling in the back of my head, they might be Jersey based? not 100% sure though.
Hong Kong & London
http://www.kerogencap.com/
Some of the LTH will remeber when Kerogen sold around half of their holding
https://www.oilandgasvisionjobs.com/news-item/big-shetland-oil-bet-pays-off-for-investors
Well I would have thought we find out if they have reduced in the next week or so. All of these shares that have been churning around have come from somewhere..
Don’t forget 3.5 percent of the company known to be on short. I usually double whatever shorttracker says I’m my notes to take account of positions under 0.5 percent .. it’s usually a reasonable estimate. So those shares need buying back and I suspect they will be around these levels.
Unless the shorters get issued shares as part of HUR drive to repay debt. In that case, they do not need to close.
Kaboom, 106 m cash , no debt due until July 2022.....no going concern statement, ability to purchase CBS at 30 cents 70% below par on secondary markets and to reduce interest rates. Watch this space
Sorry, that should read to reduce interest payments by buying up convertibles on secondary markets...
Shorters get issued shares? You really have no idea Kaboom. !! CB'swould be issued shares....not the shorters.
Brason, and how much of that cash is required for the WI, just to keep the well flowing. How much for ghr decommisioning bonds?
Shareholders more likely to be wiped out.
Haha Dr Doom is either clueless or simply rattled. Probably a bit of both
Brason, in that head of yours, have you contemplated the scenario that the CB owners could be the shorters? I guess not since it does not fit the ramping story.
Mcadder, we shall see who has the final laugh.
What ramping Kaboom? It's clear the EPS is performing below expectations and that WC is a problem with either remedial action or a new well needed or a Lincoln tieback well.
Nonetheless, CA see value....otherwise they would NOT have topped up hugely.
"Mcadder, we shall see who has the final laugh."
No we won't Dr Doom cos unlike you I won't be on this bb gloating in your face when this re-rates I'll just simply engage smug mode
Good to see the poorly constructed and repetitive bears here.. vested interests at play and they don’t want the pi’s to get a taste of the action now. Plenty to play for and plenty of time to resolve issues.
A lot of the PIs have been getting "a taste of the action" from significantly higher levels. Apparently, there was no wzy it was going lower than, 15p, then 12p, then 8p, then 6p,then 4.5p. Yet, here we are at 3p.
@mcadder - Dr Doom .. that made me chuckle :-)
Actually Doom the price went down to 2.5p and has started its recovery so I'd say we've turned the corner.