04-30-2020, 08:58 AM
(04-30-2020, 02:47 AM)crimsonghost747 Wrote: Sold all of my RDS.They would not have been my prediction for the first true oil major to cut. Probably an ominous sign for what next earnings reports bring. Reality is they all need to trim the Div starting about a quarter ago. I'm not wishing that on anyone of course, but borrowing the Div for long would be a mistake. It appears a couple of the majors are going to do just that.
That div cut, this big and this early, together with the suspension of the share buybacks just makes me think that the management doesn't see any way out of this.
For the moment I will take my losses (yay some losses so no taxes!) and rethink the situation with them. I do like the company as a whole so I may very well buy back into it at some point.
It was my intent to wait for a few majors to cut before I re-enter oil. No other sector has beaten me up so bad. I am going to get a huge margin of safety or I'll skip it.