Following is the Thomson Reuters North America Shale Gas Valuation Index, based on closing share prices from Feb. 18.
The data comes from StarMine, a Thomson Reuters company, using the 12-month forward SmartEstimate, a measure that selects estimates from only the most accurate analysts.
StarMine Intrinsic Value is a variation on the dividend-discount model methodology that adjusts for biases uncovered in analyst forecasts.
| EV/EBITDA | ||
| Index average | 7.3 | |
| Range Resources Corp | <RRC> | 13.0 |
| CNX Gas Corp | <CXG> | 10.2 |
| EQT Corp | <EQT> | 9.3 |
| Exco Resources Inc | <XCO> | 9.3 |
| Southwestern Energy Co | <SWN> | 9.0 |
| Petrohawk Energy Corp | <HK.N> | 8.4 |
| Carrizo Oil And Gas Inc | <CRZO> | 8.3 |
| Cabot Oil & Gas Corp | <COG> | 7.9 |
| Quicksilver Resources Inc | <KWK> | 7.8 |
| Forest Oil Corp | <FST> | 7.7 |
| Encana Corp | <ECA> | 7.7 |
| Goodrich Petroleum Corp | <GDP> | 7.4 |
| Encore Acquisition Co | <EAC> | 6.9 |
| Chesapeake Energy Corp | <CHK> | 6.4 |
| Anadarko Petroleum Corp | <APC> | 6.1 |
| EOG Resources Inc | <EOG> | 6.0 |
| Devon Energy Corp | <DVN> | 5.5 |
| Comstock Resources Inc | <CRK> | 5.5 |
| Newfield Exploration Co | <NFX> | 5.0 |
| Apache Corp | <APA> | 4.5 |
| Cimarex Energy Co | <XEC> | 4.4 |
| Talisman Energy Inc | <TLM> | 4.0 |
| ————— PRICE/EPS |
||
| Aggregate | 16.3 | |
| Range Resources Corp | <RRC> | 65.5 |
| Comstock Resources | <CRK> | 42.9 |
| Encore Acquisition Co | <EAC> | 39.7 |
| Anadarko Petroleum Co | <APC> | 37.0 |
| Cabot Oil & Gas | <COG> | 32.0 |
| Petrohawk Energy Corp | <HK.N> | 30.5 |
| EOG Resources Inc | <EOG> | 25.7 |
| CNX Gas Corp | <CXG> | 23.9 |
| Talisman Energy Inc | <TLM> | 23.6 |
| EQT Corp | <EQT> | 22.1 |
| Encana Corp | <ECA> | 21.9 |
| Southwestern Energy Co | <SWN> | 21.1 |
| Exco Resources Inc | <XCO> | 18.9 |
| Carrizo Oil And Gas Incorporated | <CRZO> | 16.8 |
| Quicksilver Resources Inc | <KWK> | 16.5 |
| Forest Oil Corporation | <FST> | 12.3 |
| Newfield Exploration Company | <NFX> | 10.8 |
| Devon Energy Corp | <DVN> | 10.6 |
| Chesapeake Energy Corp | <CHK> | 10.0 |
| Apache Corp | <APA> | 9.8 |
| Cimarex Energy Co | <XEC> | 8.9 |
| Goodrich Petroleum Corp | <GDP> | – |
| ————— PRICE/INTRINSIC VALUE |
||
| Aggregate | 1.03 | |
| Range Resources Corp | <RRC> | 2.40 |
| Anadarko Petroleum Corp | <APC> | 1.96 |
| Comstock Resources Inc | <CRK> | 1.84 |
| Encore Acquisition Co | <EAC> | 1.72 |
| CNX Gas Corp | <CXG> | 1.64 |
| Cabot Oil & Gas Corp | <COG> | 1.54 |
| EOG Resources Inc | <EOG> | 1.45 |
| Petrohawk Energy Corp | <HK.N> | 1.44 |
| Talisman Energy Inc | <TLM> | 1.39 |
| Southwestern Energy Co | <SWN> | 1.26 |
| EQT Corp | <EQT> | 1.16 |
| Exco Resources Inc | <XCO> | 0.94 |
| Cimarex Energy Co | <XEC> | 0.93 |
| Apache Corp | <APA> | 0.92 |
| Quicksilver Resources Inc | <KWK> | 0.91 |
| Newfield Exploration Co | <NFX> | 0.90 |
| Carrizo Oil And Gas Inc | <CRZO> | 0.83 |
| Forest Oil Corp | <FST> | 0.77 |
| Encana Corp | <ECA> | 0.75 |
| Devon Energy Corp | <DVN> | 0.75 |
| Chesapeake Energy Corp | <CHK> | 0.69 |
| Goodrich Petroleum Corp
____________________ |
<GDP> | — |
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