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re: Oil stocks...are you buying?
Posted on 1/12/16 at 8:50 pm to LSUneaux
Posted on 1/12/16 at 8:50 pm to LSUneaux
Recently I moved from 100% cash to trying to buy the lows, looking for gains over the next 2-3 years.
Bought Kinder Morgan at 17.59 (now 13.61, geez)
Bought EOG at 69.95 (now 62.91, ouch)
Bought Anadarko at 37.75 (now 37.34)
I still feel good about these over the 2-3 year time window, but it would be nice to catch something before it goes up. Just glad I sold XOM, CVX, and EOG after big gains between August and November, so I'm still playing with house money - for now.
I would really like to load up on XOM if it gets back down in the 60's, but the price has been surprisingly resilient versus the lows seen in late 2015.
Currently 55% cash and trying to be highly selective with the remainder, which is why I would like to catch XOM on a dip.
Bought Kinder Morgan at 17.59 (now 13.61, geez)
Bought EOG at 69.95 (now 62.91, ouch)
Bought Anadarko at 37.75 (now 37.34)
I still feel good about these over the 2-3 year time window, but it would be nice to catch something before it goes up. Just glad I sold XOM, CVX, and EOG after big gains between August and November, so I'm still playing with house money - for now.
I would really like to load up on XOM if it gets back down in the 60's, but the price has been surprisingly resilient versus the lows seen in late 2015.
Currently 55% cash and trying to be highly selective with the remainder, which is why I would like to catch XOM on a dip.
2
Posted on 1/12/16 at 11:01 pm to Bayou Tiger
I have shares of XOM that I bought back in 2010 that I am still in the green on. I will consider buying more if it drops in the low to mid 60's. I'm also considering Shell (RDSB) because it has paid a steadily increasing dividend since World War II. It has been beat up more than XOM. I took some profits in 2015 and am leaning towards buying round lots as, and if, the price keeps dropping.
Posted on 1/13/16 at 8:28 am to Bayou Tiger
In all honesty I see no reason to own shale oil companies in this market at all. Owning them is basically a long play on oil prices going back up above $55-$70 depending on what acreage each company owns in each play. It seems to me that if one wants to make a bet on long oil prices there are better ways to do it than through names like EOG, CXO, PXD, APC, etc. These guys are all bleeding money below at least $50 per barrel if not higher and carry huge debt loads. Owning the integrated majors looking for a turnaround seems a much better strategy.
This post was edited on 1/13/16 at 8:29 am
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