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Major Integrated Oil and Gas

Aegean Marine Petroleum Network, Inc. (NYSE: ANW) – FYE 12/2016


Chevron Corporation (NYSE: CVX) – FYE 12/2017 UNDER VALUED The stock is currently trading at levels below my most recent $129 buy target. Please See Linked Worksheet
Posted on 03/29/18


Encana Corporation
I went back in time with this one and looked at the investment returns from 2010 through 2016, and was less than impressed. Had an investor invested $10K in shares of stock at the end of the day on 12/31/2005 and held it until the end of the day on 12/31/2010, adding in price appreciation and dividends their return would have been a loss of 7%. Had they followed that strategy year after year from 2011 through 2016, their return would have averaged -12% year over year. In the end, earnings and free cash flow are not growing, but then again neithet is debt, which I guess is something to be thankful for. Analysts are expecting FYE 2017 be a good year for the company and it might. But I think history will repeat itself and in the end, long term buy and hold investors are going to get slammed.

Encana Corporation (NYSE: ECA) – FYE 12/2016 – OVER VALUED – The stock is currently trading at levels above my $9 fair value estimate – Please See Linked Worksheet


ExxonMobil (NYSE: XOM) – FYE 12/2016


Imperial Oil Limited (NYSE: IMO) – FYE 12/2016


Royal Dutch Shell plc (NYSE: RDS.A) – FYE 12/2016 – Hold – The current market price reasonably reflects the current P/E, growth potential and balance sheet metrics – SEE RESEARCH NOTES

Please note that worksheets are updated basis the most current SEC 10-K ANNUAL filing.