Stock price when the opinion was issued
A pipeline from the Permian to the Gulf of Mexico will come online, the Matterhorn, which will increase the flow of oil as well as natural gas, which has been trading at a negative price this year. So, the producers will be much more profitable. Two more pipelines are coming and will support the oil price and their companies. She likes Devon, paying a 5% yield and will benefit from the Matterhorn.
They underperformed a lot last year, but have been righting the ship after disappointing quarters. Has deep value, trading at 4x, a 15% free cash flow yield, though worried about inventory depth in the Permian. He must prefers Canadian oil sand companies (solid balance sheet, long inventories, execution, share buybacks).
The CEO just left and shares are at a 52-week low. Also, the street expects oil to fall $10 a barrel. Start buying some of this.