Veren Inc T.VRN

CPG range bound...for now

[highalpha1]

I'll echo some of the sentiments expressed by other posters on this board about CPG's share price. Although we had a nice cumlative pop this past week of over 10%, CPG continues to trade at a substantial discount to its peers.

Like others have suggested, I think that once we break $6, we may quickly go up further from there. There is a relatively high short interest in this company and as some of the shorts begin to cover and others begin to buy in, the price action will move upward quickly.

As I have indicated before, I have a substantial position in CPG. I hope to sell 1/4 of my position in the C$6 handle and hold my remaining position for some time longer.

[Moemoney42]

I've mentioned this before.. I do think CPG can easily increase the divi by 100% for Q3 regardless of the D/CF basis at this point.. and I do think that is what's currently holding the share price back.. along with the short interest.. the optics of that move alone would be supportive of that $6+ price you're looking for.. IMHO.. that increase would only cost ~$5.5 million/yr. 

[highalpha1]

@Moemoney42: I tend to agree with you that CPG can increase its dividend. But raising it 100% would not do much IMO. The dividend yield for CPG is currently at 0.17%; thus, raising it by 100% would result in a paltry divident yield of 0.34% yield. Still much too low to attract dividend orientated shareholders. I was thinking that CPG could easily announce a monthly dividend of C$0.01/month, which

[LiquidOctopusV2]

I concur.  The div should get a meaningful increase.  I've seen 1800% mentioned.  Either way, got to be be patient. 

[Moemoney42]

Although I wouldn't balk at that type of divi increase I really don't think its realistic.. I think we'll see small steps going forward.. and I agree a 100% increase is rather pewny, but its a first step in the right direction.. I think the most we can expect by the end of 2021 is 1 cent/quarter.. I hope I'm wrong though.. LOL.. ;-)

[highalpha1]

@Moemoney42: Unfortunately, I agree with you. Although CPG can easily afford a reasonable dividend, I don't expect the uber conservative management to announce a significant raise to the current dividend. Nonetheless, if the debt-equity ratio looks more appealing, share  price should move up.

[Bpultra]

then expect the SP to drift lower ... the shorters seem to feel like you... and they seem to feel they have time ... this is where the insiders need to surrprise them .. but if history is correct they do nothing  =============

[Bpultra]

Did I mention it would drift lower???   until the shorts get their fill or the insiders do something .. ANYTHING ..  here we sit.... UNDER 5.50 WITH $75 OIL... and you guys say management is doing just a great job....hi 5's all around... ???   ===========

[highalpha1]

@Bpultra: If you thought it would drift lower then shouldn't you have shorted the stock rather than go long? I mean, if your thesis is that the poor decisions made my management will result in the share price going lower, then I am not sure what the reasoning is for buying shares in such a company. At best, it would be a short.  I am not trying to be adverserial, but I am just trying to

[Bpultra]

I don't play the short game... but I did sell it .. and I have bought a few of those blocks back ... but was I right ... YES I was.. did I sell again at the right price ... YES I did.. did I re-buy back at the right price ... well next week I will tell you and let you know.. but I know I have someones money in my bank account .. and didn't have to short it ... there are a ton short right

[highalpha1]

@Bpultra: Thanks for the explanation. You're using the fact CPG is rangebound to make some money, selling when it hits the top end of the range and selling when it dips. Smart. I have tried doing this as I indicated earlier but haven't made the type of spread you're hitting. Thanks for sharing when you buy and when you sell. 

[Anschutz]

There... fixed it for you.