Much Below normal temps for the rest of December. Prices will be at $4.50 by Month's end. We will continue to see inventory draws well above 5 year average. At some point XCO will be worth much more than where it is currently trading. By 2015 expect well over $5 for Gas.
Didn't you notice they have an option to on a farmout basis of an additional 147000 acres which could have huge upside given the Buda/Austin Chalk.
This may not do much in the short term but I expect a rally in late December. With the tax loss selling this has endured and the backstop from the large holders I think we are bottoming out. Gaps like we had in weak stocks usually get filled and that is now behind us. If we finish the week around these levels it will give us higher high and low which is good. Weather is supposed to be very cold in December after a short warming trend. Next weeks inventory report should be very bullish, could be the largest on record for the reporting period. Good place to get long in my opinion.
Well, look at the stock prices, that is what investors respect and they are horrible. Very few Canadian oil producer stocks have performed well and many are cutting their dividends to boot. When you are selling your oil at the lowest prices in the World it can't be good and this has been going on for years now. Energy East is years off in the future with Ontario and Quebec standing against it. TransMountain is also stuck in the mud. Land values/oil&gas values in Canada are very weak reflecting the lack of good markets for increased output. It is a total disaster as far as I can see and no sign of significant progress on the horizon.
We will probably make it to $15 by early next year. Weekly chart looks good, once we get tax loss sellers out of the picture should make some progress higher. There are a few other trusts out there with similar great opportunities, again tax loss selling is making for terrific opportunities right now.
So you expect us to OK Keystone but you won't approve building one within your own territory? Canada is an oil exporter, so how are you going to export increased volumes without pipeline? You have to import Brent(priced) crude into Montreal refineries because you don't even have a way to supply them with Canadian crude. The whole situation makes no sense at all.
Very ugly chart. Probably heading for the low $100. The Monthly RSI(14) is an incredible 85, that is bubble territory. Amazing anyone would buy into this with a reading like that.
I would rather be in this than in the broad market. This company is a great value at this price and the products they produce will see growing demand. It will be under pressure for a while since it will see tax loss selling and window dressing selling(having performed poorly).
Funds are dumping but it is irrational. They did the same thing to Natural Gas stocks at the end of last year. This is a bargain, well worth the risk at these levels. I have been buying every day and will buy more tomorrow. I only buy on down days, until there are signs of bottoming. Another one worth looking at is NDRO, similar situation.
Absolutely, they are actively managed and they hedge which makes it almost like an MLP. Very cheap with a great yield. I like MTR as well because they have Mancos shale land potential and have a good yield. Another great opportunity is Argent(angyf), this has been sold off(see Seeking Alpha articles to explain situation). Argent is a hedger as well to protect the distribution. All three of these have great upside and you get paid very well while you wait. XCO has considerable debt but these three have very low to ZERO debt.
I think this is tax loss selling as well. But for weeks now Canadian Enegy stocks have endured Algo selling as well due to the bear market in oil
Not enough data yet to know if this means much, but since the big drop this shows bottoming on the 15th of the month(last month/this month). Have to wait until next week to see if it plays out the same way. If so we should rally for a couple of weeks into month's end.