Fall in Oil Prices Leaves Best Idea Hi-Crush Increasingly Undervalued
Oil prices have tumbled downwards over the last month, with front-month West Texas Intermediate, or WTI, down from about $50 to $43 per barrel, a 14% drop. Naturally, oil-leveraged equities did not escape this fall, leaving many of our covered energy sector names undervalued currently. A prime example is Best Idea Hi-Crush, currently trading at about a 47% discount to our fair value estimate.Ironically, this month-long plummet was inaugurated by OPEC’s decision to prolong its agreed cuts in oil...
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