Bye-Bye ExxonMobil, Hello Total

Yesterday I sold out of my ExxonMobil (XOM) position and bought Total SA (TOT). XOM is approaching my estimated fair value so my selling discipline forced me to sell. TOT is definitely one of the uglier houses on the energy block but the market seems to be over discounting the company just on a reserves [...]

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13 Deep Value Stocks: Opportunities Or Traps?

With markets remarkably resilient in the face of continued euro region troubles, an anemic US economic recovery and growing concerns of a crash in China, investors may want to consider deep value stocks for possible investment. While cheap stocks can always get cheaper, true value stocks (as opposed to value traps) will probably fall less [...]

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Exiting Penn West Expl. (PWE) … Sort Of

I have been looking to sell PWE around $20  for some time … for a rundown of my reasons, please see this article.  Investor optimism at the start of a new year provided that opportunity but instead of outright selling the shares (and missing out on future gains), I instead sold PWE $20 June 2012 [...]

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Penn West Energy Fair Value Estimate

It’s been awhile since I’ve commented on Penn West Energy Trust — these days, I save my stock specific analysis for Enlightened American Premium members — but I have blogged a bit about PWE in the past and so will share some brief comments. The arrival of Murray Nunns has definitely invigorated Penn West on [...]

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Penn West Energy Q4 2008 Update

All figures CAD$ unless noted: Operating cash flow held up in the fourth quarter, dropping only 2% from Q3 to $602M. Funds flow from operations (FFO) fell 26% on a sequential basis to $490M, due to changes in working capital. The standardized distributable cash ratio (basically the ability to cover distributons from free cash flow) [...]


Penn West Still Shaky After Cutting Payout

As promised, I dug a little into Penn West Energy (PWE) after they cut their distribution. Keep in mind that PWE’s numbers are basically an unknown moving target after the huge drop in oil prices.  The earnings call on Feb 19 should shed much more light on where the company stands in this tumult. More [...]

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