2023-05-15 01:47:01 ET
Summary
- Journey Energy is rolling up the highly fragmented E&P industry by acquiring production at cheap multiples.
- The valuation for Journey Energy is very cheap compared to its peers who are growing at a similar rate.
- Journey Energy is a great way to take advantage of higher oil prices as its production is unhedged.
- Even though the fundamentals for Journey Energy look bullish, the price action, global macro, and flows are currently working against it.
For further details see:
Journey Energy: Great Fundamentals But The Time Is Not Now