April Cash Flows Received in May -- The Traders just handed BTE a GIFT.
Now that prices are stable and the fact that they didnt go down at all really after their earnings release BTE has been able to literally scoop up more shares retiring those shares at a lower price than the average buybacks ten months running.
Revenue are received one month after the fact. So high oil prices in April are just flowing in during MAY,
At some point as Cole Snead has stated many times -- AT SOME POINT THE TRADERS WILL BE GONE as they GET WIPED OUT with STOCK RERATES.
I am upping my share buyback estimate to 57M for the first year NCIB.
NCIB = 68,400,000
To Date: 47,000,000
ML Revised Target = 57,000,000
83%
Pretty good.