RE:RE:RE:RE:anthony marino Sherry I agree that at $58 WTI Vet can maintain their payout ratio under 100% but we are already under $58, with OPEC cuts , Libyan oil coming off, Venezuela etc. Just because they sustain their dividend even if the payout is over 100% doesn't mean it is a wise to do so.
Oil companies that has been strenghtening their balance sheets are being rewarded. VET has very little financial flexibility. They are really vulnerable to any oil weakness.
The shorts aren't going away anytime soon and money is not moving into this name as long as payout ratio is so high. Hopefully we can get higher oil prices going forward to bring dividend payout ratio in line but I'm not sure.
Watching this company dilute the share float while share price was under $20 was disappointing. VET has great assets but really poor leadership.