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Still no pipeline, they’ve given up on Sarta, they don’t quite understand how Iraq selling KRG oil for them will work, dividend suspended and no news on asset purchase.
On the other hand no major leaks and no injuries whilst not producing any oil.
More people selling than buying is the traditional reason.
Think you missed a few ifs and maybes from your last paragraph - neither of those is a given.
TVM
Andii, while you’re doing sums can you do an update on where we are with Riverport loan and repayments?
The other messages from a buyback are:
We won’t return money directly to shareholders because we know they won’t buy Shell shares with it.
We really can’t think of anything more productive to do with money but with dividends at about 4% it’ll pay for itself in saved dividends in 25 years!
Looks like a Board with little confidence and even less imagination - paying down debt would save more more quickly.
You initially said it would underpin share price - though you still haven’t provided the requested evidence. Now you say it might - but then it might not. Another 4Bn seems a gamble if we’re not sure. I’d rather they did something value accretive with that money or returned it to shareholders instead of gambling on a share price prop.
As for intellect, at least I know what different words mean, you don’t seem to - are you Joey Essex?
Interesting to see that the results of initial feasibility work on the Biogaz Gardanne project awarded in March 23 are already complete and reported in France.
Whilst in the UK the PM today is focussed on new North Sea licences and Carbon capture......
GAFG - where is your evidence that “Buybacks are a great prop for the share price?” You then correctly go on to say we haven’t a clue what the SP would have been without the buybacks. To really cement your argument you then suggest we wait a 1000 years and we’ll be a little better off! Nobel prize for economics not heading your way anytime soon!
Seav - the apparent discounted value only comes into effect if the rest of the market agrees with you - that hasn’t been the case over recent years. When do you expect it to be realised?
I’m still about til below 2150 when it might be worth a short term gamble.
Andii, I’ve read your posts for years and understand you are trying to convey your point of view utilising whatever information and comparisons you can utilise to support your case and I appreciate that.
A couple of your points:
Some negative posts I’ll agree but also some realistic ones - mine was just highlighting Simms’ repeated misrepresentation of the facts and his inability to actually read an RNS.
VLS forum is about equal on negative sentiment - their board get paid even more, performed equally badly at last investor meet and have overseen a similar slide in SP.
Surely even you will concede the finances are somewhat opaque - I can’t work out whether any of the Riverport £5mn plus loan and fees have been repaid, not sure how much we have left in the kitty for running costs and have no idea when or if Italy refinance will complete.
I think most of the frustration is from holders who see potential opportunity being mismanaged and what could and should be a success threatened by lack of clarity, lack of honesty and lack of focus from the BoD (whilst being well rewarded for dubious performance).
I very much doubt comment here impacts SP and I accept that the criticism from a few posters is a bit exaggerated and emotional but do you honestly not think the BoD could have performed better?
Sell what? Orange juice and pork loins?
Are you Mystic Meg?
On a positive note, once we bust through the 95p resistance level theory suggests it should flip to a support level. Hopefully bust it on run up to xd then it can hold.
I’m in the LTH do nothing group as well - divi too big to miss on the off chance of a decent fall in SP.
It has - they're on bashing British Gas / Centrica now.
So Shell's reporting strategy has achieved the aim of keeping them out of the headlines (only net profits reported in general press) but at the expense of any decent returns to shareholders.
Happy - guess we'll have to disagree on the effectiveness of buybacks.
They will rearrange a few financial ratios and will reduce amounts paid out in dividends but personally I don't think they underpin SP much. If SP was down at £10/£12 levels then fair enough but SP is currently bobbing about in 2200-2450 range - last BB doesn't seem to have done much to lift that (may have supported it I suppose).
So, if you're discounting capital appreciation in SP as a reason for holding (as I am) then you're only left wit the dividend. - which at sub 4% is less than my savings account.
There are opportunities - but can EQT take them in time?
Evidence to date is not compelling.
Think you'll find reality not quite the same as negativity - but then you consistently ignore reality.
Happy, you’re right CFFO is consistently good over last few years. Unfortunately, what Shel do with that enormous pile of cash seems to be more driven by avoiding negative PR and political comment than rewarding shareholders. If they’re too scared to give lots of it back to shareholders in dividends then I just don’t see a reason for share price increases.
15% of not much doesn’t get us back to previous divi levels anytime soon.
Lots more reward out there if you can’t rely on SP growth.
2nd quarter results report completion of $3.6Bn of buybacks - yet SP still off recent highs! They’re now about to chuck another $4Bn down the same hole.
Only good news I can see is debt reduced by $4Bn.
Still out and watching here but can’t see any good reason to buy in now (especially if Char is).