Stock price when the opinion was issued
Trades at a low PE, but is a value trap and is highly cyclical. Their EPS leapt from $9.16 in 20167 to -$3.50 in 2020 to $29.11 last year! Up, down and up big. Has had a a partial share buyback. Today, share are hitting 5-year highs. However, future 2025 EPS estimates are sliding to less than half of 2022's peaks, because of less demand for oil and gas. Also, the existential long-term obstacle are EV's. Consider the massive clean-energy incentives in Biden's 2022 IRA. It's possible earnings have already peaked--big warning.
He is neutral on this and is very cautious on energy and has been for the entire year. At this time there has been a real whip in refiners. He has backed away from the space, because they are really whippy. Unlike some stories, such as biotech, you take the stairs up and the elevator down, so you have to be really careful about your entry point. He would prefer something a little more conservative such as Mkt Vectors Oil Services ETF (OIH-N).