2024-04-21 11:00:21 ET
Summary
- JAPEX has outperformed other oil stocks over the last year due to a closing corporate governance and capital allocation discount.
- They are also doing well operationally, deploying cash in new projects and with developing projects coming imminently online.
- They are quite hedged, but there is also upside on the performance of oil prices, which may render the Q3 company expectations too conservative.
- Remaining large non-operating balances make the company undervalued.
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For further details see:
Japan Petroleum Exploration: Gains Mostly Driven By Corporate Governance Considerations