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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (15032)	12/28/2022 9:44:31 PM
From: Elroy	Read Replies (1) \| Respond to of 26444

I don't know much about CVX. But.....if you want a sorta similar value stock, how about this one? UAN - It's a master limited partnership which consists of basically two fertilizer plants that make and sell ammonia and UAN fertilizer. As an MLP it pays out all free cash flows to unit holders. It should easily pay $30 in 2023, the consensus view is about $40, and it might pay $50. The price today is about $97. Fertilizer prices are elevated, thus the large coming distributions. There is not much in the way of new fertilizer plants coming on line soon in the US, so supply growth is sort of limited. All they do is make and sell fertilizer, so as long as fertilizer prices are high, UAN will pay big distributions. Is CVX less than 3x forecast 2023 cash flows?