Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

Lukoil Not Out Of The Woods Yet

Like Gazprom (OTCPK:OGZPY), which I recently covered here, the shares of oil-focused Russian oil giant Lukoil (OTCPK:LUKOY) have struggled to make much headway amidst concerns about production growth, taxation, and geopolitical tensions. That the shares have done about as well as Gazprom and Tatneft (OTCPK:OAOFY) and better than Rosneft (OTC:OJSCY) isn't much comfort, as valuation multiples remain stubbornly low due in part to investors continue to avoid Russian equities.

A long-awaited production ramp in Iraq is now threatened by insurgency and while a partnership with Total (NYSE:TOT) bodes well for the future, the company is still disadvantaged when it comes to growing production via exploration within Russia. I do...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details