I’ve had Oxy and MRO on my watch list for years as solid midsize oil companies I wanted to buy when they got cheap. Today OXY fell 12% and MRO 10% and I pulled the trigger. Going in very slow, $5,000 total between the two.
They are both small enough and profitable enough (when oil is $50+) that the supermajors could buy them with no trouble and minimum antitrust delays.
That doesn’t mean I think they are 100% safe. Chesapeake was a midsize gas-focused company that is now a basically bankrupt penny stock. I never liked the economics of fracking gas companies though, and shorted several when gas prices first collapsed years ago.
I also got some MetLife (MET) and Altria (MO). Deep discount safe havens.
As long as the positively-sloped arm of the V stretches well beyond the 2020 general election, I’m all for it. Ride the Blue Wave. Universal healthcare for all … let’s hope this is Trump’s Waterloo.
[quote=spdrun]As long as the positively-sloped arm of the V stretches well beyond the 2020 general election, I’m all for it. Ride the Blue Wave. Universal healthcare for all … let’s hope this is Trump’s Waterloo.[/quote]
spdrun, maybe 4 more years of Trump would be better to create the wave that gives you what you want. we may need 4 more years of Trump to truly unmask all the deplorables. I find Trump abhorrent, but at the same time, America does truly deserve Trump.
Occidental Petroleum Corp. OXY+14.63% shares were halted in Tuesday trading after the energy company announced that it was slashing its dividend to 11 cents per share from 79 cents per share, effective July 20. The company will also cut its capital spending to between $3.5 billion and $3.7 billion from $5.2 billion to $5.4 billion, with additional cost reductions expected.
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