New thread to discuss one of the majors.
This is one of the senior producers, paying a dividend, with international exposure and a great resource base. Why is it suffering valuations at half of what they were three years ago. They are proving up their holdings and have a solid production record and good management.
My guess is that they are indexed and general sell-offs in the equity market will sideswipe them due to their inclusion in major funds that require large cap companies that pay dividends.
Does anyone else have more information on the company, like hedged forwards that are keeping the prices consistently down? Or is this just a decent deal that is being overlooked.