Energy

Energy Equipment & Services; Oil, Gas & Consumable Fuels

ARTICLES

Purchase Recommendation - February 2019

This well-capitalized company has new management that is leading a turnaround.

After being out-of-favor for years, this company has new leadership with strong operating experience. Backed by a strong balance sheet, our Buy recommendation should meaningfully improve its earning power and valuation. 


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Purchase Recommendation - January 2019

This services company has an unusual niche in the energy and mining industries.

Weak oil prices, some relatively minor operating issues and highly risk-averse year-end investor sentiment has pushed its shares to near-record lows. Yet the company’s business is more durable than it might appear, the management continues to improve its operations, and it is generating positive operating free cash flow. While its shares carry significant risk, we believe the considerable return potential more than offsets the risks.


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Post-Chapter 11 E&P Companies: An Opportunity In The Oil Patch

A group that is doubly out-of-favor is the energy exploration and production (E&P) companies that have emerged from Chapter 11 bankruptcy. E&P stocks in general have fallen sharply over concerns that oil and gas prices may once again tumble. Yet in their rush to abandon these stocks, investors are creating some bargains.
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Looking North of the Border

Last month we highlighted several turnarounds in Europe and Asia. This month we look north to our friendly neighbors in Canada. While its public equity market as measured by the respected Toronto Stock Exchange (total market capitalization of about $2.2 trillion and 1,500 listed companies) is considerably smaller than that of the United States, fascinating turnaround opportunities can be found there.
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Stock moved to sell recommendation after improved performance

Sale Recommendation - July 2018

This energy stock has performed well recently, and we recommend the sale of its shares.
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Stock moved to sell recommendation after successful plan implementation

Sale Recommendation - July 2018

This energy company is progressing through its turnaround plan, and we recommend the sale of its shares.
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Identify & Profit from Distressed Investing

Free Report: Turnaround Investing Mistakes

Turnaround Investing Blog

Turnaround Investing Blog

Is there value in bankrupt PG&E’s stock?

In nearly every case, the shares of a company in bankruptcy become worthless. In very rare cases, however, they can become great investments. W.R. Grace (NYSE:GRA) shares produced a 75-fold return, as an example. With California utility PG&E (NYSE:PCG) now in bankruptcy, the range of possible outcomes for its equity is wide.

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EV/EBITDA: What Is It & Why Are We Using It More?

In reading recent editions of The Turnaround Letter, you have probably noticed that we are increasingly using EV/EBITDA as a valuation measure, rather than the better-known price/earnings multiple.  We thought it might be useful to describe this measure and why we like it.

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Turnaround Letter Stock Pick Named Top Performer of 2017

 

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What Last Year's Top Stock Pickers Are Buying in 2018

 

This Forbes write-up follows up on the recent Top Stock Tips report--naming The Turnaround Letter's Crocs recommendation the top performer of 2017: With 90% gains, CROX beat out 100 other investment ideas included in the report; and the stock continues to have value investing appeal, according to Putnam.

 

George notes, "We see additional upside for the stock in 2018 as management's efforts continue to bear fruit, though the gains will likely be more muted than we saw in 2017."