RE:comparedFrank, I have no idea how they would come up with a 47% payout ratio. If you look at 2019, simple calculations show they paid more in dividends then FCF. Unsustainable to continue this way year after year, especially when debt is over 2X. I hate that management is not more proactive, this sitting and waiting for better oil prices hasn't worked and has driven down share price as others have gained. Since Dec 1 VET has considerably lagged my other holding CJ, TOG, WCP, TOU. We are at the point now that money will no flow back to VET until they cut.