i ask because i just picked up a check from a older guy whos roof we did and he does investments as a occupation...he told me there were some great buys out there in petroleum right now and specifically cited those, checked them out and they look appealing
Both seem to be pretty cheap right now from their all time highs, and pay a nice dividend. I bought some shares of both yesterday. I think now is a good time to buy both, but you're basically betting/hoping that the price of oil goes up to $60-70 sometime in the next year or two.
also would place no bets on oil being 60-70 anytime soon.
This cannot be stressed enough. If your investment strategies are based on the thought that oil will be back in the 60s and 70s anytime soon, you should rethink your strategies. It's already proven that sustaining above $50 for a prolonged period of time is seeing resistance.
Every time someone buys SPY or VOO think how much goes to XOM... I was raised to never sell XOM, but the economics of it just don't make sense.. once the ETFs start selling off that XOM is going to fall out like a shelter in Nagasaki.
Why would you buy so close to the top when CL1 is a third of its all time high? Just saying...
Don't know about now, but bought a ton of XOM after the Deepwater Horizon disaster and a lot of oil stocks took a hit. I got them when it was around the mid-50's and sold in the 90's. I miss being single and being able to take a chance on something with money sitting around.
Historically, XOM has been one of the best stocks I've ever owned. Back when companies did splits it would get to around 80 and split and I would immediately buy at 40. Still sitting on all of that. Probably should have sold it before now.