RE:RE:RE:Don’t waist your timeThe risk here is it's based on the price of oil remaining high. With 2024 a US election year, the democrats will pull out the stops to reduce the price of oil. Add in a recession and watch FCF evaporate. CPG burned up a lot of hard earned goodwill with shareholders by jumping back on the acquisition band wagon. Whether this proves to be a right or wrong decision, I see a significant drop in share price that will likely persist into 2024.
JohnSP wrote: You said:
"No longer will management's promise to return 60% FCF be likely in the short term.".
CPG in PR said:
"The Company plans to continue to allocate approximately 60 percent of its excess cash flow to dividends and share repurchases in the interim and plans to increase this allocation over time as it further strengthens its balance sheet.".