RE:RE:RE:RE:we need senior management changeFinacial engineering? Hardly. Paying down debt is prudent during higher oil prices and buying back stock when it's so cheap is a good use of cash flow IMO. It's not like they're issuing series of preferred shares or spinning off assets into secondary companies they own like what enb was doing years ago. With regards to the renewable energy transitioning they seem to be doing more than most. They have wind farms and they have their petro canada ev charging network for a start. I just feel whatever they do in that area they'll never appease the environment crowd because in the end they're considered a big bad oil company.
Experienced wrote: PabloLafortune wrote: Now that the share price has dropped, the stock will perform well going forward IMO perhaps as good as but probably not better than its peers IMO. What I still don't get is this continued prioritization of buybacks in Q2 at the expense of growth, dividends, debt reduction or green energy investments - the vibe one gets is the company is run by stubborn financial engineers.
Generally agree with you...although they do have a focus on reducing debt as much as they can without incurring bank penalties.
As I have said in previous posts, I support what they are doing right now but am looking for a plan and some action in terms of transitioning the company to a renewable energy company. If they continue with the financial engineering as you put it next year, I will be out and will move onto other investments with the proceeds from the sale.