RE:RE:RE:RE:RE:RE:RBC 8$ PT now. still too low imoso here is a question... who was it that first created the "great reset" ? was it the WEF or was it cccpg management LOL
cccpg shareholders have been getting "reset" up the wazoo for the past 5-8 years...
then again. what do I know
Anschutz wrote: Thanks for the link. I remember this article. Re-reading it is like picking off an old scab as I still curse when I read this line...
- The dividend was reduced by 89% to favor debt reduction and share buybacks.
I was vocal then and still vocal now. Excluding the shares issued for the Shell purchase, Bryska and board stole the dividend from shareholdes and did not reduce the float. They instead used the funds to buyback shares in the open market, only to offset the shares they gifted to themselves as part of their overly rich compensation plan.
Looking at the continued WTI disconnect it looks like the market is still not trusting of management and board. It also explains why CPG consistently trades at at $1.20+ discount.
In any event thanks again for the walk down memory lane. Best of luck and hopefully we get good news with earnings.
AngryBob wrote: Nearly three years ago there was a good article in SeekingAlpha regarding the valuation of CPG based on WTI price and FCF. It is dated, so the WTI sensitivity is off, but the FCF/share valuations should still be valid. There may be some more recent reviews like this one, but I am not aware of them.
Original article
https://seekingalpha.com/article/4233532-crescent-point-smart-decision-of-slashing-dividend