ETE is junk. They're rolling up ETP very soon but acknowledged they won't be increasing their distribution until certain debt thresholds are met and they are a couple years away from being met even though cash flow will start increasing bigly the next few quarters. It's a real sad situation. You'll collect a safe 6% distribution but don't expect much stock appreciation. If income is your thing then sure it's fine. If you're looking to multiply your money you won't do any better than CRC. If oil continues to rise as I expect that stock will be an absolute beast. It was around $8 a year ago at this time. It's the most leveraged to the price of oil in its space with a couple other companies somewhat close but nothing is like CRC. CRC has world class assets at a bargain price. NAV at $85 BRENT is 23 Billion and they trade at 2. Need I say more?Originally Posted by Tellafriend
If you believe in a lower for longer oil price then CRC is not your stock. In my opinion there is no bear case for oil. They've all run their course and struck out. The cure for low oil prices are low oil prices. Years of underinvestment in the space is catching up. Shale has enormous depletion rates and tier one acreage is running out. You'll get a boost late next year when more pipelines come online but it will be too little too late by then. The mother fuckers short oil are going to be getting a rude awakening the next few months. Refinery maint season ends next couple weeks and Iran sanctions kicking in early Nov. Things gonna get ugly. YRMV
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