Whitecap resources - The Bull has left the barn
With the news release today, Whitecap repurchased millions of shares through large block trades for cancellation, great news. By this time next year the they will have vertualy no debt, less shares on the open market with 50% of the FCF designated to dividends. They also stated that the cancellation of the shares represents over $10 million in dividend savings and strengthens the on going dividend program. This is fantastic news for the longs and don't worry about the SP being down today, it was just part of doing business. With the April 28th 2022 first quarter results coming rapidly, WTI trading over $100, Nat gas over $5.50, SPR draining by the millions weekly,API draw continuing, summer driving season approaching, airlines ramping up flights, what's not to get excited about. This stock should reach new highs of $12-$13 by early May 2022, fingers crossed.