RE:RE:OPEC+ Extends Voluntary Production AdjustmentsHeavyBanana wrote: This OPEC extension to the end of Q4 should lock in the guidance for FCF in Q4 which means buybacks will continue providing some support over the next 2 months.
Middle East fireworks will ignite the stock upward and that should make Q4 guidance ultra conservative.
Pretty nice setup in front of us.
The cheap buybacks are a blessing , Last year they bought back 40mil shares . This year they are already at 45 mil shares bought back till Oct 31 2024 . Another 10-20 mil shares can be bought back easily with FCF at 70 WTI .
Thats like a 50% jump in buybacks from 2023 to 2024 , EPS and FCF per share increases by 5-7% per year with these buybacks , not bad.
YE 2027 I see double digits if Oil holds.
Thanks