Veren Inc T.VRN

Reading between the lines

[Moemoney42]

Mr. Nuttal still holds CPG and would like to see a better divi for the shareholders.. I'm with him there.. what caught my interest is that he mentions "he still needs to do a little more work on it" tells me he'll be visiting the C-suite at CPG soon to gently persuade them to pony up a bit more cash for the shareholders.. at least that's my take..?? JMHO

[CdnOilObserver]

Nuttall also stated "he is not sure that the CPG Management 'get it' with respect to returning capital to shareholders" CPG will remain bound in the high $5's and low $6's until they can demonstrate a fair return to investors for the risk of investing in a small-mid cap oil producer.

[Speedy]

Time to exit this bloodbath and move over to Cve and Suncor. 

[cahclick]

  He is diplomatic to say "he is not sure". Any shareholders that have been around here hor years know already that Management doesn't give a flying rip about shareholders. Today's pathetic share price is totally because of the lack of trust/confidence in Management. The company metics suggest that debt can be paid down, shares can be bought back, dividends can be

[LiquidOctopusV2]

Are you kidding me?  I've actually been a diplomat!   What Nuttall was doing was terrifically aggressive and he's openly challenging CPG's management to accelerate shareholder returns.  No thin veil, no white gloves.  0% diplomatic score.  He telling us that he's going to have awkward talks with the management.  It was all out there on screen

[SchoolNmoe42]

This post has been removed in accordance with Community Policy

[TickerTwit]

Nuttall is unlikely to have enough clout. Management has no duty to shareholders, but they are ultimately under the control of the BoD. You have to work through the Directors, and for that you have to form voting blocks and get transformational questions put forward at the next AGM. Otherwise it's all impotent whining. .

[LiquidOctopusV2]

It might depend on how much of the company he owns.  How much of a freefall in the share price he can cause if puts his for sale.  If he starts actually trashing them on BNN.  Companies that "get it" will win.  Those that don't will lose.  I think CPG gets it but is patient. 

[jleer42]

According to Morningstar Ninepoints owns 1.89% (11M shares), not sure how current that is. I belive your point about trashing would have a larger impact than the amount of shares. Like it or hate it he has a much larger soapbox than the rest of us.

[Moemoney42]

I still think the Shell share sale has been the overhanging drag on the shareprice for a long time.. you don't unload 50 million shares without stalling an upward trend IMHO.. once they've unloaded completely (and BP posted he doesn't see them listed on the funds list anymore) they could have infact unloaded the last 20 millions shares, and we can now expect the shares to trade without

[LiquidOctopusV2]

I see it like "his" companies are tamed.  If they won't play ball, he'll dump.  Again, I think CPG gets it but is not going to make any big dividend moves until 2022. 

[Moemoney42]

Thinking back to what Mr. Nuttal said about CPG was that Shell had unloaded I think it was 30 million shares and had 20 million left to sell.. that's what most likely is holding us in the flat pattern lately.. after they have divested I'm sure we'll see some upward movement again.. JMHO

[Moemoney42]

It wouldn't surprise me to find that when annonymous on the sell side each day is Shell selling.. heck a 50% gain on their holdings within 9 months is a great return and I'm sure if they've already sold 30 million.. the last 20 million are slowly being sold in the market so as not to disrupt the trading too much.. bet we see gains after they're done.. ;-)

[barneyj44]

Moemoney42 ,I think you hit the nail on the head with Shell selling. Same thing with Whitecap with the Canadian Pension Plan selling 9 million of there 25 million plus shares. They ended up having to big a position when Wcp purchased Torc as they held both. Better days ahead( I think).

[EstevanOutsider]

Shell is a reporting insider. Why arent their transactions posted? CPG is garbage and insiders do not even buy it.