Southwestern Energy Case
Q3 - OverallImpression
Based on your overall impression of Southwestern Energy and using a six-point scale where 6=a very positive impression and 1=a very negative impression, please tell me how you would rate the company.
"3 [6-pt scale]. If it's an absolute scale as an investment opportunity and I don't think you should own any energy stocks, they are an energy stock. Again, that's why I asked if it was a relative scale or not. On a relative scale, 3."
Q4 - OE_Strengths
What do you see as Southwestern Energy’s particular strengths as an investment?
"They have strong gas assets, particularly in the Marcellus. They have a disciplined investment strategy. Those are the two leading ones. The way they assess returns, the way they rank things is pretty disciplined." …show more content…
"14%. Compliance will require me to open my model and tell you. You want a calendar 2018 number? When you say 'next 12 months,' that's ambiguous to me. Can I give you a 2018 production growth estimate? 14%."
Q12bb
How important is "Proactive risk management" to your investment decisions/recommendations about Southwestern Energy’s common stock? Please use a six-point scale where 6=extremely important and 1=not too important.
"3 [6-pt scale]. Risk can be a couple different things. From a hedging it's a 2. From an asset base it's probably a 4 or a 5. It's asked right after the financial question, so it sounds like it's more hedging related. Let me say 3. They are probably thinking financial when they ask it. It could be ESG, it could be asset quality, it could be investment opportunity, it could be hedging, and they're all really different."
Q12cc
How important is "Attractive margin expansion potential" to your investment decisions/recommendations about Southwestern Energy’s common stock? Please use a six-point scale where 6=extremely important and 1=not too
Based on your overall impression of Southwestern Energy and using a six-point scale where 6=a very positive impression and 1=a very negative impression, please tell me how you would rate the company.
"3 [6-pt scale]. If it's an absolute scale as an investment opportunity and I don't think you should own any energy stocks, they are an energy stock. Again, that's why I asked if it was a relative scale or not. On a relative scale, 3."
Q4 - OE_Strengths
What do you see as Southwestern Energy’s particular strengths as an investment?
"They have strong gas assets, particularly in the Marcellus. They have a disciplined investment strategy. Those are the two leading ones. The way they assess returns, the way they rank things is pretty disciplined." …show more content…
"14%. Compliance will require me to open my model and tell you. You want a calendar 2018 number? When you say 'next 12 months,' that's ambiguous to me. Can I give you a 2018 production growth estimate? 14%."
Q12bb
How important is "Proactive risk management" to your investment decisions/recommendations about Southwestern Energy’s common stock? Please use a six-point scale where 6=extremely important and 1=not too important.
"3 [6-pt scale]. Risk can be a couple different things. From a hedging it's a 2. From an asset base it's probably a 4 or a 5. It's asked right after the financial question, so it sounds like it's more hedging related. Let me say 3. They are probably thinking financial when they ask it. It could be ESG, it could be asset quality, it could be investment opportunity, it could be hedging, and they're all really different."
Q12cc
How important is "Attractive margin expansion potential" to your investment decisions/recommendations about Southwestern Energy’s common stock? Please use a six-point scale where 6=extremely important and 1=not too