RE:RE:RE:huge amount of shares at the close The buybacks in this sector are supposed to take place over the coming years. So, don't look for it in tomorrow's price just yet. But people will take notice before too long. And, what the market will do is dependent - primarily - on the price of oil. I know there are many many factors but I can't calculate them all. So for me, it's coin flip. I've been thinking there is a high chance of an energy crisis and invested accordingly. But, we're getting close to "circuit breaker" covid policy again, which is a bloodly circuit breaker for everything and turfs demand for a while.
I'm glad OPEC told Biden to shove it.
BigJoe778 wrote: Possible that they've started to buy back shares but I don't think the amount they've committed too is going to have a huge impact. I believe they said around a hundred million dollars worth which is roughly 17 million shares at the current price. It's a start but personally I don't think lowering the number of outstanding shares from 580 million to 563 million will have that much of an impact. That many shares outstanding still makes the stock an easy target for shorts and we're probably still a ways away from seeing any real live from the market imo.