Post by
WaterDPlants on Jul 27, 2023 11:12pm
Q2 numbers look very good
I was afraid of unannounced transaction costs – but I did not see any. $96M in free cash flow is above my expectations. $48M for buybacks, of which, only $21.6M has be spent (Maybe they are holding back to fund the dividend - $19.4M). BTE’s per share income of $0.36 lags CPG $0.39, WCP $0.69. Tough comparison because of oil/gas mix, reserves, debt, etc. But both CPG and WCP shares cost over $10 – more than double BTE’s share price. BTE’s share price should rise.
Comment by
JohnnyDoe on Jul 28, 2023 6:47am
CPG and WCP both have market caps in the mid 6B range. BTE's market cap is low 4B. The Q2 earnings per share reflects the 860 M share float but only reflects 10 days of Ranger revenue so at least for this quarter, it's not really a fair comparison. Let's see how Q3 goes. Our share price will need to rise to near 8 to have similar market caps to those 2 companies
Comment by
dandu1924 on Jul 28, 2023 8:18am
We should rise around $8.00 just a matter of time after the market waking up about this new company BTE.