Oooooohhhhhhhe'll be hurting
(5 years ago was $17, now 19 cents.)
Oh my my my. This month alone has fallen 57%
View attachment 222731
Wow...I remember that company when it was soaring in the $50 dollar range.
wrbtrader
What's your theory on where oil price is heading?
- Thread starter themickey
- Start date
Wow...I remember that company when it was soaring in the $50 dollar range.
wrbtrader
When the underlying commodity (crude oil) is as volatile as something like bitcoin, it makes any industry related stocks almost uninvestable. The current volatility makes oil a great product to trade, but a crappy long-term investment.
I agree its a doomed sector. Too much anti-fossil fuel sentiment from the climate change move, and peak demand will happen much sooner than peak supply.
%%
That;
+I think they own a lot of stocks, so they got the C,5% dividend.
Also sounds like they remembered the old school Bush request '' why not pump more oil , which lowers the price ''LOL/true.
Dividend buyers are feasting on CVX, XOM, KMI,EOG,PSX,VLO, OXY...……………………………….
Dividends are never guaranteed, besides, do you want a 7% dividend when your stock has dropped 15%?
%%
OK.
Since you asked, I would rather get a 3.00+ % div off ERX. LOL...………………….................................................................…….Plenty liquid
With WTI and Brent in the 20's and the Saudis determined to keep prices low until shale is bankrupt, E&P's are going to have to slash their dividends (OXY) or sacrifice their balance sheets and long-term viability just to keep paying it (CVX, XOM). Energy companies with monster dividends are probably value traps.
%%
They may cut dividends;
XOM, CVX .......tends to increase dividends long term+ make money on refine gas/selling oil by the qt/gal .....................................................................LOL. ERX pays a dividend of >3.0%; I got some for capital gains tax free/Roth.
Most all the IBD charts prove growth stocks/EtFs trend better than value stocks/ ETFs.
My position,on ERX, even if I do ,or do not buy some more is smaller than my dividend payer$ like TWM,UPRO/TQQQ.............................................................
These Saudi unilateral oil interventions never work out over the long run.
And yes, you can shut down a shale operation and have it back up and running in a few months time.
What’s driving today’s price action is the realization that crude storage is about to run out - that’s how precipitously demand has dropped.
I’m trying to remember if I’ve ever seen such severe prompt months Contango in the forward curve before
The Russians were wise to walk away from the Mar 9 OPEC+ production cut proposal. No amount production cuts would have been able to offset the unprecedented demand destruction we are currently witnessing.
