Stock price when the opinion was issued
It is paying down debt at $200 million per year and is half-way through the process of paying off the total of $600 million. When debt is paid off and it is generating $200 million excess capital it can use this capital for dividends and share buybacks. As they approach this point we should see the stock price increase. It is worth about $450 million today. Buy 7 Hold 2 Sell 0
It is in the energy services business.There has been a big drop in the rig count in the U.S. However the number of uncompleted holes is at a ten year low so new drilling will be needed. Also the price of natural gas is recovering. It is generating $200 million in free cash flow this year and the market cap is $400 million.