RE:RE:RE:I sold more tveAs a comparison ATH had 16M shares given to their employees who qualified-- during Covid yet retired 50m shares last year.
TVE is just getting going at 25% of FCF for buybacks.
It will be less of an issue at TVE because he most likely can't exercise those today. The share price this year is going up in my opinion.
The TVE CEO has done a good job I think and we can say he has followed the EN Playbook. Still need 6 months more on that. Look at ATH shares for a 36K BPD producer
Also it's fair for some stock compensation.
Brian has lead TVE to this.
1. 10 years of inventory
2. Consistent dividend payer
3. Debt quickly being reduced last 12m and this year. Some Leverage will remain which is OK.
4. I expect minimum 35m shares bought back in 2024.
5. Costs are down
6. Some of the experts here on production have said the output they are seeing is higher on some of their production sites.
So iThinks it's par for the course a bit.
Expect the shares to appreciate in April and after their Earnings release especially if debt SUB 900M.
ML