ZACKS INVESTMENT RESEARCH
RELATIVELY LOW FORWARD P/E RATIO DETECTED IN SHARES OF POSTROCK ENERGY IN THE OIL & GAS EXPLORATION & PRODUCTION INDUSTRY (PSTR, CEP, CWEI, KOG, EGY)
Jun 22, 2011 (SmarTrend(R) News Watch via COMTEX) -- Below are the five companies in the Oil & Gas Exploration & Production industry with the lowest Forward Price to Earnings (P/E) ratios. Forward P/E uses estimated earnings to compare relative value among companies in the same industry. Generally, the lower the forward P/E, the more undervalued a company is believed to be.
PostRock Energy NASDAQ:PSTR has the lowest with a Forward P/E of 3.0x.
Constellation Energy Partners AMEX:CEP is next with a Forward P/E of 5.3x.
Clayton Williams Energy NASDAQ:CWEI has the next lowest with a Forward P/E of 6.4x.
Kodiak Oil & Gas AMEX:KOG follows with a Forward P/E of 6.4x.
Vaalco Energy NYSE:EGY rounds out the group with a Forward P/E of 6.6x.
No, CEP K-1s have shown net taxable income (after factoring depletion, etc) for the last couple of years. CEP holders have had to pay taxes despite receiving no distributions. Without checking my records I think 2009 was a bigger tax bill than 2010. Several posters on this board complained about owing several thousand in taxes on CEP on their 2009 return.
Look back on this board at posts from around March 2010. You will find a number of threads like this one where someone is complaining he got >$6000 taxable box 1 income on a modest number of units...
You are still wrong. You are talking about "distributions in excess of basis" which comes into play if/when your basis reaches zero.
That is nothing to do with taxes you owe on MLP income (mainly box 1 on the K-1) starting the first year you own it.
I really suggest you see an accountant since it appears you have no idea what you are doing. If you really are filing your taxes like this then you are digging yourself in a bigger hole every year and at some point will be audited and/or have to file revised returns for all the years you have been doing this. The sooner the better to get this taken care of properly.
the thing is, MLP losses are not claimable
to offset other gains personally. We are
allowed to claim our entire purchase price
of the MLP units as a deduction, which has
to be surpassed before any K-1 income tax has
to be paid. That's what I meant. So if your
cost basis is 20k, and your unit-allocated
non-distribution gains exceed 20k, then you
have to file (and show as income).
Your main concern may be that there is a real possibility that congress will disallow MLPs to be held in a Roth IRA. This is the most likely tax change that might impact MLPs as holding in a Roth implies the deferred tax is never recaptured.