RE:What would institutions like better?Good day Freddie, nice to see some reasonable discussion here. I agree a buy back announcement would increase the price which of course makes the buyback less impactful.
I would still announce one...take the gain and depending on gain either split buyback with divvy or allocate a very small portion to buyback and go larger divy.
That said I feel you wanrt to wait for the right season...when stocks of oil and products are drawing and you get the most bang for your buck...I don't feel Q4/YE results day is the day....but that's just me
The debt was projected to be in the 1.2 range by Q2 2022....however that was based on $70 oil at the time...since that time we have averaged $78 so we are certainly ahead of that call.
However I keep investing my other dividends so I will gladly wait a while longer while picking up more.
Agreed share structure given the assets at these prices is a non-issue. To suggest otherwise shows a lack of capital market understanding.
Thanks for sharing
FreddieSanford wrote: Share buy backs at higher prices ... prices that a simple announcement of a buy back program would elevate dramatically making the buy back increasingly less impactful.
Or ... special one time lofty distributions along with a rolling dividend plan of high significance.
I would prefer an announcement of a buy back program ... the stock to jump significantly on that news ... so much so that management decides to forego the buy back and super size special distributions and a rolling dividend as it gives me everything I want ... a multiple bagger a few times over from here.
I take this view knowing other issuers have similar share structures and trade double of BTE currently. Share structure is not a problem in my view ... not for a company with superior assets like Baytex.