opec countries are broke they need $90 Oil or better to support their budgets
Are you talking wti or Brent price...which is more important to Penn Virginia I was assuming wti
more diversified thank God they are not more diversified in Coal..have you seen the coal stocks lately..they still have natural gas and liquid and Oil... invaluable land... the stock price will move higher I guarantee it.
so I guess every oil company in the United States will be going out of business..except maybe a couple according to your analogy.
oil prices will eventually move much higher.opec would rather have high oil prices their budget requires it..this was highly manipulated down.. It could easily be manipulated back to $8
I'm going to assume they know how to run an oil company better than I do or anyone else on this message board..if a company is in businessfor 100 years there have been many ups and downs...most people look to short term..everything goes in cycles..oil prices will rise OPEC countries need high Oil prices just to pay their bills..
relax stop looking at everything macro..there will always be short term ups and downs look at the bigger picture 20 or 30 years
problem is most people judge a company by the share price..if the price is going up and people are making money everyone assumes the company is doing good..when the price goes down and people are losing money they assume the company is going bankrupt..of course anything is possible but don't over react because you are losing money..short sellers are taking advantage of the environment at the moment and can take control of any stock good or bad...
opec countries cannot survive with low oil prices they prefer over 90..eventually something has to give... way too much manipulation
you are correct he could have already sold..but as of March 31st he was still holding even when Oil prices have already going down 50%..I wonder why he was holding in March and I wonder why he took position in the first place..I assume he seen something in this company besides just a potential sale.#$%$ it ...who the hell knows
who really cares if George Soros owns the stock or not that doesn't change the company it's not like he's out there in the oil field working..I hope he sold for a huge lose ..what has he ever done for you or me nothing
just looks like this is being massively manipulated..institutions try to take every single share before a stock moves higher.if that's the case it takes time in order not to drive the price higher..I do not believe fundamentals are that bad to dictate this drop.they have cash they are hedged and bonds are not due for a few years..I don't see the company going out of business anytime soon that's for sure..as long as oil prices recover in the next 6 months or so everything should be fine that's my opinion anyways.