Well, the OPEC was intending to remove the production cap by Sept/Oct in a bid to increase production which will only going to put more downward pressure on oil price unless the demand side also pick-up at the same time.
So, what KAR can't control is Oil price but what they can control is to remain debt free and not put all egg in one basket with new acquisition in the oil & gas but instead look at something alternative in my opinion.
So to support higher share price they should have lowered their debt and pay 80% of free cashflow in dividend or divided between buy-back & dividend.
Remember current $38m AUD buy back will only be able to buy 21m shares at $1.8/share and KAR normally trade this volume within 2 - 4 week ! so it serves no purpose in my opinion.
https://oilprice.com/Energy/Energy-General/Oil-Prices-Continue-to-Fall-Amid-Growing-Concerns-Over-Chinese-Demand.html
Well, the OPEC was intending to remove the production cap by...
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Last
$1.38 |
Change
-0.025(1.79%) |
Mkt cap ! $1.071B | |||
| Open | High | Low | Value | Volume |
| $1.38 | $1.40 | $1.37 | $3.804M | 2.757M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 38853 | $1.38 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.39 | 16869 | 1 |
View Market Depth
| Last trade - 16.10pm 11/11/2024 (20 minute delay) ? |
| KAR (ASX) Chart |