RE:RE:RE:CPG should never be going down unless it is trading at 10I agree with Anschutz.
I've been an investor in Canadian Energy for over 30 year, and I have a significant position in this company.
CPG did an excellent job in unloading some assets and paying down a significant amount of debt. Reducing the dividend is beginning an aggressive share buy-back is a great idea. I think all investors agree with the event of 2020 to cancel the NCIB, and significantly reduce/cancel the dividend to preserve cash.
The company is now a "Show Me" stock. There has to be signficant movements by this company, (and others in this sector), to win back investors, and entice large institutional investors - those who will hold the company long term and not sell at any pop in the price.
Actions within Management control:
- increase the dividend to 35 or better,
- rapidly reduce the float of shares outstanding - NCIB
- ensure excellent cost control at every level
- they can nibble away at the existing debt
Nuttall is way too optimistic, but I agree with his comments that these companies are still trading way below their pre-covd levels. At $58.69 WTI this should be a $10.00 stock all day long.