Post by
riski on Nov 05, 2021 9:40am
Priced in
As we were discussing in the past few weeks, a lot of anticipation was baked into the price. Best case scenerio was the earnings report hitting all the expectations including large dividend in the next couple of months, debt reduction, large cash flow, and stable production.
A number of things will disappoint in this report only because speculators expecations were far too high. Oil is doing well, but it still requires a lot of patience.
Comment by
GoldenArm on Nov 05, 2021 9:44am
So the PE valuation of 3 is about right? I don't thinks so. OPEC isn't increasing output, and oil prices haven't peaked. Not to mention all the majors have huge demand for product. Your basically saying profits don't matter just dividends?