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Oil Rebounds

hank
edited December 2014 in Off-Topic
http://www.reuters.com/article/2014/12/16/us-markets-oil-idUSKBN0JU0BO20141216

After al the hollering and screaming about Russia, Oil & EM bonds this morning, I thought about adding to my PRNEX. However, for whatever reason, all the refiners listed here appear to be jumping higher today. Interested whether Scott and some of the others invest in some of these individual stocks.

PRNEX (Recent Top Holdings (as reported by
MarketWatch)

EQT Corp. EQT
ENI S.p.A. EIPAF
Apache Corp. APA
Anadarko Petroleum Corp. APC
Cimarex Energy Co. XEC
Concho Resources Inc. CXO
NiSource Inc. NI
Exxon Mobil Corp. XOM
Pioneer Natural Resources Co. PXD
Royal Dutch Shell PLC ADS Cl A

The fund paid out a big distribution yesterday if anyone was wondering about that 18% daily drop in NAV:)

Comments

  • scott
    edited December 2014
    I added a little to EPD earlier. I thought strongly about CNQ but didn't - I do think if oil goes lower yet again and CNQ goes to $22-23, I'd load up. I figure today is a good day but this may not be over yet. If I don't get CNQ not the end of the world. I still like COP. For me to get into anything that doesn't pay a dividend, some of these names would have to be much lower. PSX was also something I pondered.

    Basically, if I'm going to be getting anything in oil during this period, it'll be something where I have confidence in its long-term sustainability and get paid a nice dividend while I wait. I'm not going to be buying more speculative names (again, unless prices just get ridiculous.)
  • MarkMark
    edited December 2014
    Bought LYB yesterday and CBI today. Half position in each. Added to HQL today also. Toying with adding to my PEO position or BGR. Similar but different. Might take a shot at BBL as well.
  • CharlesCharles
    edited December 2014
    Crazy out there today.

    Oil's big advance did not really hold, did it?
  • MarkMark
    Not across the board Charles but some managed. For me it was EPD, LINE and NGLS. Tomorrow is another day.
  • scott
    edited December 2014
    Charles said:

    Crazy out there today.

    Oil's big advance did not really hold, did it?

    Some things did well. EPD, COP included. I really do think the pipelines (some of the biggest/best) are worth exploring, including EPD, PAA (or PAGP), WMB (or WPZ), ETE (or ETP), NGLS and others. The pipelines are generally not price-sensitive, but volume-sensitive.
  • CharlesCharles
    The pipelines are generally not price-sensitive, but volume-sensitive.
    Good stuff scott!
  • hank
    edited December 2014
    Gonna sound crazy. But using my mobile at around 3:30 while staring at a $2.59 gas sign, I bought a little more PRNEX. Knock out Michigan's near 60 cent gas tax and it's selling for $2. Maybe it'll go down another 50% - but willing to risk that. Not trying to offer advice to anyone else. (Pick your own poison.)

    Maybe we'll get back to 35-cent gas the way it was when I was 15 or 16 and pumping it for people at the local Standard station. In those days, we pumped the gas, checked your oil and tires & washed your windshield - all for no extra charge.:)
  • Tampabay
    Maybe bread will go back to 5 cents and new cars to $3000
  • CharlesCharles
    =)
  • JohnChisum
    Not likely.
  • hank
    edited December 2014
    Just glad I'm not trying to trade in an electric car right now, Resale values must be going through the floor. Would imagine the hybrids are getting hit - perhaps to a lesser degree - as well.

  • JohnChisum
    TSLA has certainly gotten a haircut here, a military cut.

    Hybrids are in a different league IMO. Either way, fuel prices being high or low, the hybrid driver is saving real money.
  • TedTed
    @MFO Members: One of PRNEX top holdings, NI is also one of mine. I bought the utility back in 3/09 @ 8.32 per share. With the present dividend @1.04 that gives me a yield just north of 12%
    Regards,
    Ted
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