Fundamentally sound Co. Good Net Income growth. Plains should be able to free cash flow their way to a 1Bil cash position this Year. (Debt Reduction/Lessen Leverage/Share Buyback???)
2.5 mil acres in the Permian. Long Haul Pipes are contracted out 5 years at 70% utilization. Dividend is North of 7% ... (One could buy the shares on Juice and prolly have a Positive cost of carry ...)
Technically I like the cup and handle on the 4 hr. (that's what I Trade...) Regress to the mean of the Channel. Break through $10 and we might be on to something....
I think you can feel comfortable buying it below 10. 15$ a share is a fair price to Exchange hands. (That's 50% from $10 for those of you keeping score...) Above that some resistance at 16 and again at 18 handles. Downside of $4 to recent 5ish Lows and I think you have a 3:1 profit profile at $22 from these levels.
I see the Stock at Pre-Covid Prices in the 20s maybe 25ish over the next 3 Q's. If it takes 18 mos ... to get to $20 that's a double and the 7% dividend pays me to be Patient...
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