- Fair value of $152.45 relies on a composite of normalized FCFF DCF ($111.85) and Owner Earnings ($193.04).
- Current valuation relies heavily on peak spot commodity prices rather than normalized 35% mid-cycle margins.
- A 12x terminal multiple appropriately caps mature growth expectations for this highly cyclical E&P.
Fair value
$152
Margin of safety
-34.0%
Confidence
72/100
Moat
3/10
Educational research only - not investment advice, an offer, or a trade instruction. Confirm current data and do your own due diligence before acting.