Peter Horn

Editor's Choice

• Is It Time To Get This Gulf Oil Producer Off the Shelf?

  By Peter Horn - March 5, 2013 | Tickers: EXXI, SGY, WTI |

  Energy XXI (NASDAQ: EXXI) has an impressive growth record, built around the acquisition of some large legacy oil fields in the Gulf of Mexico. Its rapid ascendance was helped in part by its relatively small size, an advantage that’s gradually eroded with that very same growth. It’s caught its peer group. Growth from here will require a more diversified strategy, and what that long term strategy is remains more »

• When Is a Barrel Not a Barrel?

  By Peter Horn - February 14, 2013 | Tickers: APC, APA, CLR, DVN, EOG |

  A look at reserve valuations in the larger cap independent oil & gas universe paints a widely varied picture. Barrels can be had for prices ranging from less than $9 to almost $30. The wide spread has a rational reason. No two companies’ reserves are easily comparable and simple value metrics ignore that fact. When a valuation looks out of whack with reality, it’s a good idea to try to more »

• Clever Management Kept This Oil Independent One Step Ahead

  By Peter Horn - February 4, 2013 | Tickers: CHK, DVN, EOG |

  Long before the competition, EOG Resources (NYSE: EOG) bet that unconventional, horizontal drilling would be equally useful for oil production and set about realigning its acreage. With natural gas prices now crumbled, that prescience pays dividends. Management’s willingness to buck the trend proved a strength.

  If you look back to 2009, the wisdom of EOG’s all-in decision on the future of oil shale looks less than certain, yet more »

• Is This Red-Hot Oil Producer Too Expensive?

  By Peter Horn - January 25, 2013 | Tickers: CHK, CLR, DVN, EOG |

  EOG Resources (NYSE: EOG) cultivates its image as an oil company first and foremost. That’s no wonder, given its success in two of the hottest oil shale plays in North America. Management wants investors to focus on the rich promise of those Eagle Ford and Bakken acres. Shares have run far though, and EOG’s valuation is high. Investors have a hard decision to make. Is EOG overvalued, or more »

• A Stock You Can Take Home to Mother

  By Peter Horn - November 30, 2012 | Tickers: AFL, MET, PRU, UNM |

  Aflac is a niche-product insurer that sells supplemental health and life insurance in the US and Japan. Supplemental accident insurance dominates its US market, where Colonial Life, a subsidiary of the UNUM Group (NYSE: UNM), provides its strongest competition. Supplemental cancer insurance dominates Japanese sales. Investors interested in other US insurers with a strong presence in the lucrative Japanese insurance market should also take a close look at both MetLife more »

• Is This MLP Spending Your Money Well?

  By Peter Horn - October 24, 2012 | Tickers: BBEP, LGCY, LINE, QRE |

  The Upstream MLP group provides some compelling yields.  Four in particular stand out with near double digit yields: Breitburn Energy (NASDAQ: BBEP), QR Energy (NYSE: QRE), LRR Energy, and Memorial Production Partners.  These last three are newcomers to the stage.  All three provide plenty of cash for investors, but little, if any track record.  There’s just not much to go on.  That’s why yields are so high.  How more »

• Can Paychex Turn the Corner?

  By Peter Horn - July 17, 2012 | Tickers: ADP, INTU, PAYX |

  The recession knocked high flier Paychex (NASDAQ: PAYX) off stride.  Shares sunk from 2008 highs in the mid-40s and over the past three years have traded in a channel between $25 and $33.  The company recently released 2013 guidance forecasting lackluster payroll services growth.  That caused a knee-jerk drop in shares that was rapidly countered as income investors scooped up shares on softness.  The high yield has kept a floor more »

• Why's the Duck Stuck?

  By Peter Horn - May 29, 2012 | Tickers: AFL |

  Aflac (NYSE: AFL) shares have struggled of late as the company continues to try to overcome the effects of problematic European investments.  For a long time, Aflac was a conservative growth option.  But, the credit crisis and recession have taken their toll on Aflac’s investors.  They now face a variety of short term challenges as a result of past investment decisions.  There has been a lot to weed from more »