I noticed a couple of relatively large parcels going through today and yesterday. (today 50k+ and yesterday 40k+)
The market has got LNR all wrong imho.
1. Sold down aggressively with all other oilers despite having majority production hedged
2. Oil up 50% from lows yet LNR share price remains at the same level of when oil was $40ish
3. Recent M&A activity with Noble taking out Rosetta Resources (Eagle Ford) had no effect on LNR price
The market seems to be ignoring LNR, but that's OK...the numbers will do the talking over the next few Qtrs and the market will wake up, just a bit of patience required.
Article from US financial site Seeking Alpha
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Daily big buyer keeps accumulating?
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Last
0.5¢ |
Change
-0.001(16.7%) |
Mkt cap ! $9.775M | |||
| Open | High | Low | Value | Volume |
| 0.6¢ | 0.6¢ | 0.5¢ | $194.8K | 34.12M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 31 | 18360240 | 0.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.6¢ | 12542718 | 11 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
0.5¢ |
Change
-0.001 ( 16.7 %) |
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| Open | High | Low | Volume | ||
| 0.6¢ | 0.6¢ | 0.5¢ | 18685607 | ||
| Last updated 15.31pm 03/05/2024 ? | |||||
| LNR (ASX) Chart |