The Cure To a Declining Share PriceAs WTI breaches the USD$90 WTI barrier, the value of CPG shares struggle to maintain value. I find this stunning given the free cash flow average WTI pricing has provided this company in that last three months.
At this point I would suggest that CPG management step in and accelerate share buybacks to soak up the excess liquidity created by having a float of over 550,000,000 shares. If this management wont buyback their own shares, why would the generalist pension or mutual fund manager care to?
The last time WTI was >$90, this was a stock >$40 - so if we are going into an average 2022 of $80, or even $90 it leaves me speachless by the silence from this management.
They should be calling every pension fund and every mutual fund promoting this company.
They should aggessively implement a meaningful share buyback - and advertise it.
They should return capital back to the company owners with a 3% or 4% or 5% share dividend and current prices.