Journey Energy Inc. Stock News

Journey's CEO has an impressive track record. He is applying his approach to Journey successfully.

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Journey Energy is delivering strong operating and financial results. Journey bought highly accretive assets.

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Journey has the substantial upside to higher commodity prices through unhedged production and a low valuation. The company is on track to pay down debt to near zero this year.

Two accretive acquisitions. Raised guidance. More to come?

Journey is an unhedged producer at a low cash flow multiple.

CALGARY, AB , Feb. 23, 2022 /CNW/ - Journey Energy Inc. (TSX: JOY ) (" Journey " or the " Company ") is pleased to report its year-end 2021 oil and gas reserves evaluation. These results highlight another excellent year in the Company''s transition following our restructuring in October 2020 . 2021 Reserve Report Highlights: Proved developed producing reserves increased 20% to 24.0 MMboe, with a corresponding increase of 133% in NPV@10% to $180.1 million ( $193.8 million including the Countess Power Project (CPP)) from $77.2 million in 2020. The PDP reserve life index increased to 7.8 years from 6.9 years. Proved reserves increased 14% to 33.2 MMboe, with a corresponding increase of 119% in NPV@10% to $256.2 million ( $272.1 million including the CPP). Proved plus Probable Developed Producing reserves increased 10% to 31.0 MMboe, with a corresponding increase of 95% in NPV@10% to $228.7 million ( $242.4 million including the CPP). The Proved plus Probable Developed Producing reserve life index increased to 9.9 years from 9.4 years.

Journey is set to drastically reduce the debt, while still growing cash flow. Journey has some of the lowest decline rates in the industry, allowing them to grow while maintaining current production.

Journey Energy Inc. (OTCMKTS:JRNGF) was the target of a large growth in short interest in November. As of November 30th, there was short interest totalling 6,800 shares, a growth of 580.0% from the November 15th total of 1,000 shares. Based on an average trading volume of 6,900 shares, the days-to-cover ratio is currently 1.0 days. […]

Journey Energy Inc. (TSE:JOY) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$1.64 and traded as high as C$1.68. Journey Energy shares last traded at C$1.65, with a volume of 28,217 shares. The company has a debt-to-equity ratio of 87.77, a []

Journey Energy (OTCMKTS:JRNGF) had its price objective lifted by Stifel Nicolaus from C$2.50 to C$2.75 in a research note released on Friday, The Fly reports. The firm currently has a buy rating on the stock. Shares of OTCMKTS JRNGF opened at $1.42 on Friday. The firms 50-day simple moving average is $1.27 and its 200 []