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Does eventually Malc, look at PLUS and TIG. Both up well as stock absorbed but smaller mcap.
Likes of ULVR, AV etc only picking off relatively small %’s and more ‘liquid’.
It will kick in here eventually but ironically it will also help further shorts briefly. But once stock is sold it’s sold and buyers can over run it. They will have to keep shorting to an exit or hope for bad news.
If rusty keeps delivering volumes of gas sales and Fed gets dovish shorting here could lead to deeper losses if they have to sell. Atm under IFRS they are carrying losses on their books but for the big players it willl likely be balanced from wins elsewhere.
A short closing here could come from a win elsewhere as much as anything else. Suits me though as I will be adding more here when I flip some from HEX later. So not bothered as I like the yield and outlook for gas + the ESG here!
Usual caveats
Trek
With intrest rate still high there a lot undervalued stocks and so companies have made the call to reallocate capital to buy shares, soon as intrest rate start to fall stocks/investments start to look attractive again.
If can currently earn 5% safely then why risk it couple of more % is want the average person is thinking.
Key is also look at what II are doing in markets like this as they are typically buying.
Also keep ie on the numbers of company and it valuations
DYOR
I have 8 major companies in my portfolio currently undertaking buy backs. Doesn't appear to make one jot of difference to the share price!
Makes you wonder what effect the current BB numbers might have had if initiated some considerable time ago - before the sharks really starting tearing the meat off DEC?
13,750 shares a day is not to be sneezed at regarding the buy-back that's close to £150,000 a day.
LOTM
A decent recovery but really lacking consistency, used to be able to read this like a book, sadly no more
See RNS
https://www.lse.co.uk/rns/DEC/
What are this numbers?
I'm with you Terry - if PH (the alleged 'professionals') can't do any better than me or you could then why pay them the fees? I'll take 50% of whatever they are on and happily make a bugger of it - no problem!!
Pickedpeck
I guess I must bow down to your superior trading skills, you obviously have made a fortune out of DEC which enables you tell me what I am doing wrong. Come on tell us what you will do so we all can copy it and make a fortune like yourself.
Just for the record I did make a small amount of money on my last DEC trade and I am well up elsewhere especially in my Uranium trades.
If it's that simple Terry why aren't you in profit here?
Surely if you can see what's going to happen next with the price you will be making millions as a trading genius
Sorry should have said "shorts are not bother by this"
It is nice to see the BBs increasing but still not very impressive only 13,750 shares BB yesterday when SP dropped a lot, shorts are bother by this and are still winning. Far more value for DEC in buying it's own shares than more gas wells.
Also not very intelligently executed, some might say dumb, most days like yesterday one BB, yesterday at £11.00 even thought the share dropped significantly lower soon after, wish I could get PH money for such a simple job.
I do focus on current and future, but the when comes to so valuations you have to look at the past.
To be honest the Dec model of operation is not the norm so valuation is harder to model
But when revenue is greater than mkt cap you know something is not aligned let's see where we eventually end up but as said this 3yr horizon if I am willing to wait
Sorry but what are this numbers ?
Nice to see the size of the daily buy-backs finally increasing.
So now there really able to take advantage of the opportunity the "shorts" are giving them, by buying in large numbers of shares at a very cheap price.
Each daily purchase at these levels slowly but surely increases the true NAV of all the remaining shares. At the same time it reduces the quarterly cost of the dividend.
LOTM
'...Public stating a number of times nothing has changes while negotiation a deal which required long term high cost debt and trashing the dividends which he said was safe. This new debt is 3 times longer than the longest hedge, this is not a good place to be...'
If you're talking about Oaktree, he really didn't have any choice. It was pay them off, or have them begin legal proceedings. They knew where the skeletons were buried. Now they're out of the way, Rusty can carry on with his shell game.
I don't think Rusty wants to spend too much cash on BBs or in fact dividends any more. Before he could raise money in the markets or borrow at a low interest rates but that is not the case anymore and he needs money to feed his addiction to buy more wells no matter the cost to the DECs SP and his reputation as he is now a proven liar. Public stating a number of times nothing has changes while negotiation a deal which required long term high cost debt and trashing the dividends which he said was safe. This new debt is 3 times longer than the longest hedge, this is not a good place to be.
IMO if he had the patience to wait out this cycle things including the SP would have retuned to normal in a few years and then it would be time to expand from a position of strength.
The last 2 wells acquisitions have left DEC SP in the gutter with a low dividend yield for those of us who bought DEC over 6 to 9 months ago as well as trashing it's reputation by saying one thing while doing another.
The simple truth the best deal for DEC investments in gas wells id to buy it's own shares rather than from other people but it does not it Rusty agenda.
Makes you wonder why the value has halved and the dividend slashed 66% this past year, doesn't it ? Like someone said earlier, it's a mystery, lol. BTW tazed, I didn't think you were interested in the past, only the present and future...or something.
2019: $69.22 million [USD]
2020: $246.84 million [USD]
2021: $93.91 million [USD]
2022: -$17.32 million [USD] (negative)
2023: $73.55 million [USD]
'Tazed, a company needs cash up front to finance any shares bought. DEC just doesn't have the cash for a sustained buyback program. It's whatever it can find down the back of the sofa on any given day.'
OK GG - time you stopped just gobbing off - prove what you have just said above - or Foxtrot Oscar!
No technically true they do not have the cash, just look at fcf
Tazed, a company needs cash up front to finance any shares bought. DEC just doesn't have the cash for a sustained buyback program. It's whatever it can find down the back of the sofa on any given day.
Agreed a buyback is buyback, do will take it.. Just wondering what is really stopping them doing some decent buybacks up front before the Russell inclusion unless there not expecting a big shift in price or just want average a ls much as possible over time to spread costs
Jim, There is no rationale IMO - they are indeed throwing darts at a board as you suggest. However, at least they are now throwing more than the seemingly previous regulation 3,750 per day - best be grateful for small mercies eh?