I think aof sold 3.2 mil shares...Just a fund dumping to rase cash for distributions. The fundamentals havent change so why loose sleep over it. The fund could have moved out over a period of days, but then again maybe thay own another fund which will buy the stock and show a gain when it recovers. That will please all of their holders...
I agree with Bill. It was probably a fund that wanted to sell when the price was high. Now that it is $4 cheaper and at the 50dma, it looks like it is time to buy again. It may hang around this price for awhile, but it should move up again as it is a good stock with great dividend with an upward moving industry. What is not to like?
It was, in part, an overreaction to the announcement regarding the monthly distribution for February. First of all, the production figures were for a slighly shorter month. Second, the average price per barrel was around $90; for March the average price was greater, and the next distribution should be greater.
If you're sitting around a poker table and are trying to figure out whom the sucker and cannot, then, guess what, it's you. If you even have to ask the question, "What's going on here?", then you deserve what you get here.