VBIN's oil stock thread.

[EricL]

All you ever wanted to know about energy, and then some.

Recommended Reading On Energy

[vbin]

Buffet bought another 700M oxy. I would
Be surprised if he doesn’t make a bid for buyout.

[fenders53]

(07-07-2022, 11:19 PM)vbin Wrote: Buffet bought another 700M oxy. I would
Be surprised if he doesn’t make a bid for buyout.

I think that is how this ends but he should wait for fall.  I sold an OXY and DVN put and happened to catch the recent low.  I just moved an index put though. I own all the oil I should and then some.

[rnsmth]

Link to the article below. Of the five upgraded I own one, EOG

Article headline: Five energy names raised, three cut at BofA in pivot to gas, defensive value

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Several oil and gas producers are now trading below fair value, Bank of America said Tuesday, seeing new opportunities to selectively re-engage in the sector, especially with exposure to an improved outlook for long-term for long-term U.S. natural gas.

BofA bumped Southwestern Energy (NYSE:SWN) +5.7%, Ovintiv (NYSE:OVV) +4.8%, ConocoPhillips (COP) +3.8%, EOG Resources (EOG) +3.6% and Canadian Natural Resources (CNQ) +2% to Buy from Neutral, seeing outperformance in the sector coming from gas exposure as well as the ability to withstand inflation.

But the firm also sees a "bifurcated" energy market, which led to downgrades on inflation concerns and looming tax bills for California Resources Corp. (NYSE:CRC) -2.9%, Denbury (DEN) +0.1% and Pioneer Natural Resources (PXD) +1.8%.

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https://seekingalpha.com/news/3858246-fi...3A92901710

[vbin]

I am thinking to trim oil. I feel it’s gonna go back in upcoming months

[fenders53]

(08-01-2022, 08:31 PM)vbin Wrote: I am thinking to trim oil. I feel it’s gonna go back in upcoming months

I just trimmed 300 DVN AND 300 OXY.  I have covered calls sold against my EOG XLE XOP and some are in the money so I am effectively hedged for this week anyway.  I need to trim EOG but I will wait for earnings and maybe another special div announcement.

[vbin]

Closed more than 2/3rd of my oxy position on the run up. Hope we see a correction in oil to buy back. Long term oil still looks bullish. EIA reporting draw down every week.

OPEC meets on September 5th

[vbin]

Wrong thread.

[EricL]

Huge draw from EIA this morning, 16.2 million barrels including the SPR.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.4 million barrels from the previous week. At 429.2 million barrels, U.S. crude oil inventories are about 3% below the five year average for this time of year. Total motor gasoline inventories decreased by 4.7 million barrels from last week and are about 9% below the five year average for this time of year. Both Finished gasoline and blending components inventories decreased last week. Distillate fuel inventories decreased by 3.4 million barrels last week and are about 21% below the five year average for this time of year. Propane/propylene inventories increased by increased by 1.6 million barrels from last week and are at the five year average for this time of year. Total commercial petroleum inventories decreased by 10.0 million barrels last week.

SPR sales will be winding down near the end of the month, OPEC just announced a 2 million barrel per day cut to production, and gas to oil switching in Europe is going to be gangbusters this winter as they try to keep the lights on without Russian gas imports.

You guys who are selling oil right now are crazy.

[vbin]

Spr under 400M. I have sold out 2/3rd of oxy and out of ET. Xle and rest oxy remaining.

[Kerim]

This thread's been quiet a while -- anyone want to update their thoughts on oil? I'm tempted to sell a few covered call on a portion of my XOM...

[vbin]

(01-12-2023, 01:13 AM)Kerim Wrote: This thread's been quiet a while -- anyone want to update their thoughts on oil? I'm tempted to sell a few covered call on a portion of my XOM...

I am still bullish on oil in 2023. China opening, spr release coming to end and intact buying oil for spr, low capex in oil. Russia issue all provide tail winds to oil in short term