Trying to figure out how much of this stock’s movement is basically just a bet on commodity prices. If oil/gas (or other underlying commodities) move up or down, how directly does that hit earnings, cash flow, and the share price? Is management able to hedge or offset swings, or is this mostly a pure commodity play? The stock looks attractive to me, but I don’t want to buy something that’s going to be extremely volatile just because commodity prices swing.
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