RE:RE:Days like this…..My big oil position is in ET. Huge cash flow and after years of building up debt is finally letting off the gas pedal. Market is slowly rewarding them. They have upped dividend a small amount but have a long ways to go to get back to what it was couple years ago. Good news is with less capex they are paying off big chunks of debt and have finally reached their goals. Now it is time to pay back long suffering shareholders. So, much like here, exciting times ahead. They need to get debt down here to manageable range and then look at price of stock. Buybacks are only beneficial to company if done at good prices. If we are below book, I say go hog wild with buybacks. If a ways above, debt and dividend is way to go. But, as long as cash is coming in big, we are sitting pretty. All the moves are good as buybacks save on dividend payouts and debt reduction saves on interest payments and strengthens balance sheet. So, for me, buy on dips. Good things are happening.
T