Oil stocks

[LPTiger 5,159]

Today is a good day to own them.   This morning they are all up 2%.   Exxon is up 3%.   This isn't good for the current president.    Prices at the pump continue to go up and OPEC continues to limit supply.   Many Americans vote with their pocket book.   If we can nominate someone who isn't under water in likability, we can easily take back the Whitehouse -- assuming the libs stick with Uncle Joe.

[CoffeeTiger 5,108]

[auburnatl1 4,914]

I’ve always questioned how much credit or blame an administration can really take for an economy. But with unemployment at only 3.5% and the stock market high, Biden will try to take credit for what looks superficially like very strong metrics. However, with inflation still a problem and interests rates way up - will see if lasts till the election.

Edited August 17, 2023 by auburnatl1

[AU9377 4,931]

Yes, the poor oil companies that can't hoard more drilling leases and need more federal subsidies are making record profits.  Killing energy never looked so profitable.  LOL

[LPTiger 5,159]

In March of 20, I started building positions in 8 energy stocks - Diamondback, Marathon Oil, Marathon Petroleum, Schlumberger, Exxon, Valero, Conoco and Chevron.   Here are my cost per share, current share price and rate of return for each. $33 $149 350%; $5.94 $26 338%; $38 $143 270%; $21 $58; $53 $109 95%; $59 $132 123%; $50 $117 132%; $99 $161 61%. 

[creed 1,635]

2 hours ago, LPTiger said:

In March of 20, I started building positions in 8 energy stocks - Diamondback, Marathon Oil, Marathon Petroleum, Schlumberger, Exxon, Valero, Conoco and Chevron.   Here are my cost per share, current share price and rate of return for each. $33 $149 350%; $5.94 $26 338%; $38 $143 270%; $21 $58; $53 $109 95%; $59 $132 123%; $50 $117 132%; $99 $161 61%. 

Not sure who/what/when/why suggested to you to invest in these stocks, but next time pass your info on to the rest of us.

Maybe create and investment thread and post your suggestions.

 

[LPTiger 5,159]

51 minutes ago, creed said:

Not sure who/what/when/why suggested to you to invest in these stocks, but next time pass your info on to the rest of us.

Maybe create and investment thread and post your suggestions.

 

Creed to me it was pretty obvious.   They were all trading at less than half of their 52 week high.   Usually that isn't a buy signal because usually it indicates some fundamental weakness in the company.   Here, these companies hadn't changed for the worse.   Demand for their product simply went away, not because the product was no longer good, but because people were locked in their houses and simply not using gas.   Either the pandemic was going to end fairly quickly and demand would quickly return or we were all going to die from it, and it wouldn't matter.    What makes it even more beautiful is, because of my purchase price, my effective dividend rate on each of them is in double digits.   But, don't give me too much credit, I also bought Target some while back and it was doing pretty well until the Pride stuff happened.   It is now under water by 40%.    Dib, I can be the lead plaintiff shareholder if you want to represent the class....   

[NolaAuTiger 3,295]

On 8/17/2023 at 11:33 AM, AU9377 said:

Yes, the poor oil companies that can't hoard more drilling leases and need more federal subsidies are making record profits.  Killing energy never looked so profitable.  LOL

For someone who can appear so intelligent at times, I am always taken aback by your jiggery-pokery. 

[AU9377 4,931]

1 hour ago, NolaAuTiger said:

For someone who can appear so intelligent at times, I am always taken aback by your jiggery-pokery. 

Sarcasm doesn't work the same if you give a detailed explanation.  LOL

[AU9377 4,931]

On 8/17/2023 at 1:12 PM, LPTiger said:

In March of 20, I started building positions in 8 energy stocks - Diamondback, Marathon Oil, Marathon Petroleum, Schlumberger, Exxon, Valero, Conoco and Chevron.   Here are my cost per share, current share price and rate of return for each. $33 $149 350%; $5.94 $26 338%; $38 $143 270%; $21 $58; $53 $109 95%; $59 $132 123%; $50 $117 132%; $99 $161 61%. 

Showing out.... in the best way possible..   Seriously though.. that is impressive.

[LPTiger 5,159]

3 hours ago, AU9377 said:

Showing out.... in the best way possible..   Seriously though.. that is impressive.

AU, it isn't all unicorns and mermaids.   I also bought Target!!!!