At the start of the year with EV on everyone's lips I wanted to be contrarian. What is the sector that is MOST HATED in the market? Energy... specifically "dirty" energy. NYSE:XOM at the very start of the year was trading below Book Value. Through all of these price shocks to oil and a bearish energy market they have not ceased or cut their dividends. Even now at this price it still offers an above 7% yield. Unfortunately, I hesitated as now this week the bullish case seems to be known by all with new analyst upgrades coming out. I hate to do it but I started my long term position today. I'll add to my full allocation on (hopefully) pullbacks but sometimes you just have to buy the highs to get in.
Got in on oil at $31 and some change, possibly the first bottom I have ever caught. Looking forward to watching this progess.
Clarkbar2
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SO.. In 20 years.. we ain't gonna need oil? Exxon Mobil gets another bull at Barclays on spending cuts, improved macro
Jan. 14, 2021 12:15 PM ETExxon Mobil Corporation (XOM)By: Liz Kiesche, SA News Editor24 Comments
Exxon Mobil (XOM +3.4%) gets upgraded to Overweight from Equal Weight by Barclays analyst Jeanine Wai amid a more constructive macro outlook and capex/cost repositioning that provides "a solid springboard for materially improved financial metrics that are impossible to ignore."
H2 2020 data suggests oil demand is rising vs. pre-pandemic levels in China, flat in India, and down only marginally in several other emerging economies.
norok
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@Clarkbar2, yeah I really hate being in agreement with all of this mainstream analyst publications. It makes me feel not contrarian.
Clarkbar2
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LIKE VERY MUCH TO NOROK CHART UPDATES.. and HAVE ADDED TO MY XOM POSITIONS.. THANKING THE NOROK FOR HIS HELP IN CLIMBIN THE XOM LADDER~!