RE:RE:Just like clock work. All opinions here are mare speculation.....BP stayed the course because the bad news is already priced in as is the case with many oil companies and there was news of turmoil in siria which kept oil futures steady. Every one is looking at the future as states open, so even oil stocks have been priced in with Q2-Q3 in mind.
Oil stocks hit a bottom in march. There is no way this band wagon tests those levels. You are lucky if you got in at those levels. With 40$ oil nothing will change for OVV in its books since they are hedged for the most part at 43$ and their 3-way collars are useless at that low price. Oil will need to get above 44$ for that collar to activate. Q1 report will probably show a big adjusted loss due to last minute hedge manouvers, but oh well everyone is going to let the dirty laundry out this quarter.
Anyone long on OVV believes this company survives past 2022/3 which it will, thats when the major debt matures.
Tomorrow in my opinion depends on the GDP numbers. I hope the numbers comeout better than expected which will lift stocks early in the day before they slump back down. If we miss the estimates then lets brace for a red day.