Natural Gas Drilling GW

[Alina94331]

I bought GW last year at 7.7$ and I've been in the house of pain ever since.. I dont uderstand why the stock hasnt been moving at all.. In the unpredictable market that we are in right now and with natural gas in increasing demand I dont see why a stock with great fundamentals and earnings like Grey Wolf hasnt been able to break 7$.. What would the energy gurus in the forum advise me to do?

[aliciaiv11]

I feel your pain. I bought it at $8. http://onlinetradersforum.com/styles/default/xenforo/clear.png Cramer liked and so did Fast Money's Eric Bolling when I bought it. Eric Bolling recently said GW was dead, dead money. I should have sold it months ago and took the loss, but I'm still holding onto it. I think the upside is +$4 and the downside is -$1. I figure as soon as I sell it, somebody will buy them out. The company is doing very well and the fundamentals are great, but Wallstreet doesn't seem to care. I'm hoping they start giving out a dividend. If I find a better stock to buy and need the cash, I'll bit the bullet and dump my GW shares.

[Aliccasstob]

I feel the same way guys, although I am in the black (I bought at $5 awhile ago) their balance sheet like you mentioned is to good, and I think it is a great takeover target, I just think the whole industry is a little out of favor even though day rates for their rigs remain strong. I think it still has a bright
future so I am holding on to them. But I am praying for a bid soon so I can get rid of them and put my money elsewhere.

[AlfredoMl]

I have 300 of this stock, it has been a trade around position for some time to the point where I am actually making money for the moment. The hype that pushed this thing up so much was the damage done from Katrina and nat gas prices a couple years ago.
Last year saw doom and gloomers pick it back up thinking the gulf region was going to get hammered again and push it up. Nat gas drillers also seem to follow the oil drillers for some reason, I am looking at taking the small gain and moving it into somthing else (if there was something else) unless there is doom and gloom money moving in again before hurricane season, then a larger gain!

[AlexVoronEl]

I don't know what kind of quarter they would need to report to move the stock twords 8? I just don't see it happening. I hoped that someone else would consolidate and pick up the equipment and contracts, it just doesn't seem likely listening to Cramer and his speal on Hal moving to Dubai, he wants into international drillers, stating that the US is overplayed and struggling for productivity.
He has gotten it wrong before, look at NBR. Still at the same price and hasn't gone private!