RE:RE:Gear in the twilight zone I've been a happy buy-and hold retail stock investor investor since the late 90s, CB--if you're indeed a pro that's great, but as Huey Lewis said back in the day, I'm working for a living. There's nothing personal in my take, and I'm happy to be wrong and have the medium-term Gear investors quickly make lots more money. The fact remains that GXE has traded poorly (even compared to other producers) since Ninepoint started selling their stake, despite their now enviable debt-free status.
Most here understand that an ATM stock gives back the majority of its free cash flow via dividends (and sometimes >FCF retail bait like the previous CPG leadership). I actually think that Gear is doing OK to start at 30%. My largest holding in O&G is Peyto, with which both Don Gray and Scott Robinson are shared, which is pushing for 7% annualized growth into the future--I'm just saying that it wouldn't be unlikely for Gear to choose a similar path.
I'm not bashing Gear at all, but I'm looking for a disconnect between an improving company and a unhappy shareholder base. If/when they announce an acquisition I'm there to provide a small amount of liquidity. Let the disgruntled sell in which case I'll be a new, fully-gruntled Gear shareholder--peace...