Rational Investing

Exploration and Production - Natural Gas

	Total Market Capitalization of All Firms	$116,958 mm
	Average Market Capitalization	$14,620 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	0.9
	Standard Deviation of MM Ratio	0.4
	Average Beta	1.9
	Average EV To Revenue	28277.6
	Average EV To EBITDAM	13.1
	Average Price To Free Cash Flow	12.3

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	EV/EBITDAM	% Growth	Beta	As Of
NVTK.ME	Novatek OAO	1.79	70,017	0.3	39.4	21.7	56	1.2	Jun 21
ENOG.L	Energean Oil & Gas Plc	1.11	2,075	226203.1	8.8	40	25	1.4	Dec 20
COG	Cabot Oil & Gas Corp	0.91	8,085	5.4	20.2	17.1	22	0.8	Jun 21
APA	Apache Corp	0.85	9,897	3.6	8.8	8.8	29	4.3	Sep 21
CLR	Continental Resources Inc.	0.55	16,128	3.0	8.9	6.2	177	2.9	Sep 21
SWN	Southwestern Energy Co	0.54	3,040	1.2	4.5	2.1	130	1.1	Sep 21
RRC	Range Resources Corp.	0.46	4,798	2.3	4.2	5.9	92	2.1	Sep 21
CNX	CNX Resources Corporation	0.45	2,918	2.2	3.6	3.3	120	1.4	Sep 21