RE:RE:RE:Free Cash Flow I listened to the Q3 call, too. The new CEO said he could do it in a creative way or something.
Anyway, their guidance numbers are too low I think. They use $53.50 in the guidance, lower than the current oil price, when CEO said he joined Cona because he is bullish on oil, it doesn't really line up, but maybe they are being conservative or something. Though, they should really stop hedging oil futures if they are bullish on oil.
I checked the financial statement and it said their interest rate on the credit facility is something like prime rate + premium based on the debt to EBITDA ratio. So, it all makes sense to pay down the debt for now. Lower debt will lower the interest rate at the same time.
Institutional ownership is up from 7.9% to 8.0% according to Reuters information.
Maybe the drop in the share price was from AI trading, that took the EPS of -0.06 to be negative news? I don't know, either. But, what's for sure is that, institutions are buying at low prices.
Anyway, it was nice to see Waterous not being present at the Q3 call. He was doing all the talking at the Q2 call, which was kind of crazy. He shouldn't be there.
ppp wrote: I wish I could figure that out. Oh well I will wait and see what these guys are up to. When I listened to the Q3 call, and one caller asked the question how they planned to finance their aquisitions, they replied they could do it with out dilution. ???