Opinions
The Panic-Proof Portfolio (Stockchase Research)
Frontera Energy Corporation
FEC-T
PAST TOP PICK
Oct 03, 2023
Stock price when the opinion was issued
You might be interested:
FEC produces over 40 mboed, looking to grow to 50 mboed. The company recorded record net income, which is allowing cash reserves to grow while retiring debt and buying back shares. It holds production in Colombia, Ecuador and Guyana providing unique market exposure to Brent oil pricing. We recommend placing a stop-loss at $9.50, looking to achieve $16.75 -- upside potential of 34%. Yield 0%
(Analysts’ price target is $16.72)This oil and gas producer operating in Colombia and Ecuador continues to develop its midstream strategy and is embarking on an offshore program in Guyana. It has successfully refinanced its project debt and is buying back shares while growing cash reserves. It trades under book value and 5x earnings. We recommend trailing up the stop (from $9.50) to $10.00, looking to achieve $16.00 -- upside potential of 30%. Yield 0%
(Analysts’ price target is $16.62)
Our PAST TOP PICK with FEC has triggered its stop at $10. To remain disciplined, we recommend covering the position at this time. This will result in a net investment loss of 18%, when combined with previous recommendations.