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I havent sold any of my positions in EOG, CVX, XOM... patience paid off, don't have to be the first one to the party, I'd rather miss 5 to 10% of the move and then get in vs buying the entire way down hoping to guess the exact bottom.
I havent sold any of my positions in EOG, CVX, XOM... patience paid off, don't have to be the first one to the party, I'd rather miss 5 to 10% of the move and then get in vs buying the entire way down hoping to guess the exact bottom.
Agree - however there have been a couple of 'fake reversals' so when this latest one happened I thought it was another fake at first, annoying! Could still be of course but I hope not.
^^ CVX moved up so fast that by the time the reversal seemed real it was already back up to 85-90. So CVX upside may be somewhat limited? However, any thoughts on Breitburn Energy (BBEP)? I think it has a lot of potential upside.
I bought XOM $69.24, CVX $72.36, and BP $31.18 ON 8/24 and RDS $47.10 on 9/24.
Wondering if I should hold or sell.
I like the dividends as I'm in around an average of 6% for all four but also I'm fairly bearish on the price of oil moving forward over the next several years. Those four can sustain their dividends for several years without cuts but it seems most of the stocks have recovered their initial sell offs and if anything will either trend laterally or negative over the coming months with the price of oil. The overall economic trends globally show a pretty big slowdown overall with many countries selling notes to prop up their own economies.
However, any thoughts on Breitburn Energy (BBEP)? I think it has a lot of potential upside.
I have hedged my bets and own BBEP, ARP, and MEMP. Not sure all will survive, but I think they are a great risk/reward play. The dark cloud over these names right now is a situation similar to what happened to LINE. The distribution being suspended.
I have hedged my bets and own BBEP, ARP, and MEMP. Not sure all will survive, but I think they are a great risk/reward play. The dark cloud over these names right now is a situation similar to what happened to LINE. The distribution being suspended.
Yes but even if the dividend is cut or reduced I would think BBEP is cheap enough to still be a good bet. Also if dividend is cut would be for the benefit of the company so may be viewed as a good thing?
I have some BBEP bought at 2.40. I guess we shall see how it goes.
BXE is another interesting one but I haven't bought any.
I have quite a bit of RDS-B and NOV. The market doesn't like NOV despite it's good value, I hope that changes!
Yes but even if the dividend is cut or reduced I would think BBEP is cheap enough to still be a good bet. Also if dividend is cut would be for the benefit of the company so may be viewed as a good thing?
Yes, it could trade as an immediate negative (distribution suspended), but medium term it would be positive for the share price if consensus was the company would still survive at that point in time.
Solar has been dragged down with the collapse in oil prices. Although oil isn't used to produce electricity in most of the world, I've read natural gas contracts can be linked to the price of oil. It might be something to look at. A decline in fracking for oil should result in lower natural gas production, but El Nino is predicted to cause a mild winter in the US so there could be less demand for natural gas. If a conflict with Russia ignites, keep an eye on Cheniere Energy. They are ready to start shipping LNG this Q from the Sabine Pass terminal. They already have contracts with the French, for one.
Alternative energy yieldcos have been dragged down as well, although there has been a small bit of recovery. Unfortunately, the shares can be sold short and are subject to price manipulation. That seems to be destroying the yieldco model; at least for now as investors have driven the yields to levels that are not competitive with conventional financing.
Last edited by mitchmiller9; 10-16-2015 at 10:29 PM..
I bought XOM $69.24, CVX $72.36, and BP $31.18 ON 8/24 and RDS $47.10 on 9/24.
Wondering if I should hold or sell.
I like the dividends as I'm in around an average of 6% for all four but also I'm fairly bearish on the price of oil moving forward over the next several years. Those four can sustain their dividends for several years without cuts but it seems most of the stocks have recovered their initial sell offs and if anything will either trend laterally or negative over the coming months with the price of oil. The overall economic trends globally show a pretty big slowdown overall with many countries selling notes to prop up their own economies.
I would hold at those prices, especially RDS as the dividend yield at that price is 8%! RDS appears undervalued even at it's current price. I would think you'd do very well to hold RDS forever.
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