NVA Plans a Q4 active buyback of shares....So NVA is driving a rerating of the stock, reducing the share count as of Nov 7, 2023 nuvista has a float of 210 million shares, and has bought back 22 million shares, for 285 million dollars since the beginning of 2022. ($12.95 a share)
In the third quarter NVA had AFFO of 202 million dollars fantastic. The capex spend for Q3 was 110 million dollars, the spend for Q4 will be about 70 million dollars. That gives them a lot of extra cash sitting around.
Aggressive Buyback in Q4 (100 million dollars allocated)
This extra cash is all going to be use by NVA who has lots of room left under its NCIB to increase share buybacks with the plan of buying back 100 million dollars worth of shares in Q4. Shares currently trading at $13 dollars a share means that this would allow for the buyback of up to approximately 7.5 million shares in Q4.
NVA production is increasing and their success at Wapiti and Gold Creek will only help spur their success in 2024.
Looking at the recent HammerHead sale, you would have to say that the current share price for NVA is a steal, and they essentially have very little debt, which is less that their AFFO number for a single quarter.
NVA we are not far away from $15 dollars and the gas prices have not been strong, Transmountian is coming on line soon and there will be a requirement for more condensate.
Good job NVA team.
IMHO