RE:Eric Nuttall on BNNI agree with much of your comments CashHungry. I also agree with Nuttall's comments. If CPG Management does not get on board with return profit to shareholds, then I dont think $80WTI or higher will matter much.
$0.12 was a doable dividend at $60WTI. At $70WTI or better, CPG Mngt must demonstrate they are investor friendly, or the capital will flow else where and the share price will falter and drop lower. Oil is up about 3% today - a healthy jump, yet the stock value struggles. CPG is falling behind.
I have owned a significant amount of CPG for the past three years and it strikes me as quite disappointing that I make more money trading Canadian banks. The risk-reward on CPG is too high of risk for too little reward.
I would agree if they can surpise with a varialble year end dividend, announcement they have completed their 5% NCIB, then this stock should bump higher.
The last time WTI was this high, this was a $30 stock...
Today, the price reflects the degree to which management is investor- shareholder friendly.