Post by
NonCredibleSrc on Jun 09, 2022 11:14am
Perfect pullback today IMO
Oil steady - WCP price still does not reflect current value nor the increase in oil price of the last couple days (all next quarter earnings).
Modest lpullback is exactly what we need - time for everyone to get their footings.
Those looking for a Div increase before the next quarter release - I give you a 5% chance as I only expect that announced when WCP confirms they have hit their debt target. On the upside, we are probably 95% chance this is accomplished by the next quarter release.
One way or the other, additional value will be returned to the shareholders - via debt paydown, sharebuyback, and almost assuredly a divvy increase OR special div.
10s are gone - 11s? - might hit high 11s but just as a touchpoint - w/ oil steady we stay in 12s minimum.
I'm just making $hit up as I go along - but good luck to you all.
Comment by
churchofnutsacc on Jun 09, 2022 11:48am
I would not say the $10s are gone. The CPI numbers could be a disaster tomorrow which means another leg down for the entire market including oil stocks, regardless of the price of oil. And as we see today, Whitecap is slower than others on the way up, but as fast as others, or even faster than others, on the way down.