Quote:
Originally Posted by Table 5
I imagine we see a lot of that with O/G companies going forward. It's too toxic to put it towards capex, so they'll buy back shares and up their dividends.
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I've seen a number of arguments that O&G is the new tobacco.
Low reinvestment, high cash flow from a shrinking business, where volume declines are made up with price hikes. All cash flow returned to shareholders via dividends/buybacks. Everyone hates you, and ESG funds and many mainstream investors won't touch your stock.