Post by
rascallion on Mar 03, 2022 11:22am
Back of the napkin
Comparison between WCP and OBE:
WCP has 615mm shares outstanding, market cap (9.70/sh) of ~$6B and something like 125kboe
OBE has 81mm outstanding, MC (10.30/sh) of ~$870mm and something like 29k boe
at these ratios, OBE should be 1.75 x WCP's share price.....$17
I know all barrels are not the same.Don't laugh at me too hard.
Comment by
Hendrick3 on Mar 03, 2022 12:08pm
You are correct. I use FFO per share relative to share price. I believe 4q WCP reported around 50 cents and OBE reported around a dollar. That would suggest OBE should be about $19. Very cheap on a relative basis. The reason is that WCP pays a dividend do it attracts a broader segment of investor. Hopefully in 6 months OBE will pay a dividend and things will even out.