RE:RE:RE:RE:RE:RE:RE:It just isn't that cheap
maldwyn wrote: I believe in 90-100 $ oil.
But if you listen to the market (or Eric Nuttal) share price is all about return of capital right now. Oil is a sunset industry, admittedly that sunset is 15-20 years out, but people want their money back now. You don't have to own Suncor or other deadwood companies to get dividends or better yet dividend growth which drives share price. I also own WCP, TVE, IPO and GXE and they are all better value than GTE currently with either buybacks, dividends or the near-term prospect of them.
My point is GTE may be undervalued in the current energy environment, but not relative to its peers.
Nothing wrong with co's like WCP. Arguably a much stronger company than GTE for sure. I have ridden that one and a few others myself. But it's made it's move from $1.40 to over $8 in the past two years (5X plus) how easy is it going to be for it to double or triple from here ? Which is more likely to double or triple, ( in part because people have forgotten about it)?
The at one time grossly overly indebted ones that are now showing that they are now likely to pull through, are the ones that offer the greatest upside potential in the short term
the second point I'd make is that Nut-et-al is not the Bee-all to End-all.
he talks a great game but has been wrong so many times and cost a lot of investors a lot of money over the past 1/2 decade. JMO
MM