$6.05
-0.14 (-2.26%)
Harvest Natural Resources, Inc. (HNR)
CAPS Rating:
An independent energy company engaged in the acquisition, exploration, development, production and disposition of oil and natural gas properties.
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P/E is 3.27, down on Venezuelan asset losses, but WAY oversold, even if Venezuelan assets are lost. This is a steal at $5/share. Should be a three bagger if oil ever goes to $60/bbl again, and do you really doubt that it will get there again sooner than later?
Why should this be a 3 bagger on $60 oil? On $150 oil, it wasn't a 3 bagger...The company isn't priced as if it's Ven assets are about to be lost, far from it. Just the opposite. The share price has held up remarkably well compared to its peer group. You can buy plays trading close to cash value all over the place and HNR is nothing special (other than the Ven political risk).Now that they've been forced to abandon their long awaited drilling campaign, little reason to own HNR - production will stagnate for another extended period of time, once again.