RE:RE:RE:RE:RE:RE:RE:RE:Share buy backs do not serve Share HoldersHal Kvisle has been selling shares consistently in ARX over the past few years.
I really don't like the ARX is management, it is inefficient, it is not opportunistic, and they do not take full advange of their resouce or plant at Kakwa.
Their hedging cost shareholders billions, and it was stupidity, and management put out a video how smart they were, that they later took down. They don't show it anymore, it off of the website.
Why is it good for ARX to pay over $26 dollars a share in buybacks while shareholders get just over 2%? Is management really taking care of the shareholders?
ARX is buying back 200,000 share a month, and what is their target? their premerger share float, this needs to be acheived before they increase shareholder payouts materially.
Paint dry faster, it will take 10 years are the current buyback rate to meet that goal? 10 years with no commodity cycle breakdown is not going to happen.
ARX is a bad investment and i sold all my shares.
IMHO