A global oil stock has been identified as a prime “asymmetric” investment opportunity by a prominent Hedge Fund manager.
Chris MacIntosh, who runs Glenorchy Capital, has outlined why he believes Forum Energy Technologies (NYSE: FET) could achieve a return of more than 300% from its current price.
“It’s an international oilfield products company, serving the subsea, drilling, completion, production, and infrastructure sectors of the oil and natural gas industry,” MacIntosh said.
“Recent commentary in earnings releases suggests that earnings are picking up fast with drilling activity.”
MacIntosh points to a chart that shows Forum in what he believes is a “beautiful, 18-month old trading range breakout”.
“As we have said on many occasions, the longer the trading range and the tighter the range the greater the duration and magnitude of the breakout.”
Standout industry performer
MacIntosh has also highlighted a chart that shows forum has recently outperformed the broader oil services ETF dramatically.
“Clearly something really bullish is going on here,” he said.
MacIntosh believes the stock is an interesting stock to “buy and hold”, but says he does not advocate exceeding 2% of capital in any one position.
Where else could you invest?
Forum Energy Technologies is one of five stocks Chris MacIntosh has highlighted as part of his latest Capitalist Exploits ‘Insider’ newsletter, which consistently identifies stocks that deliver returns of more than 300%.
This isn’t just a lucky streak, but the result of a well-informed investment strategy and years of thorough research.
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This article does not constitute financial advice. You should always do your own research before making any investment decisions.
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