gca1

ATP Oil & Gas: Both Value and Momentum

I agree with your analysis. ATP had 2008 earnings per share of $3.43/share and cash flow of $13.17/share. While 2008 was a banner year for most oil and gas companies, the company is well positioned for a turnaround in the market. The company recently reported that proved and probable reserves PV-10(based upon three year strip pricing) were $4.7 billion while long-term debt was $1.2 billion or approximately four times debt.

The stock is cheap now, but with gas at $7.25, which some folks believe is a reasonable target, the company is very undervalued.