Ugh. Ugly JulyTold myself in June to lighten up but did I listen. Nooooooooo
SU is doing the right things though. Yes a small divvy increase would have been nice to settle the retail players but we knew back in late May the increase wasn’t coming until early 2022. SU measured approach will win out.
SU isn’t the only Big Oil struggling to return to previous levels. People should look at some of the other Majors. OXY,XOM,CVX,RDS,DVN are all well below where they were
Cash flow is great. Refining and Marketing saw a big bounceback and should be even better in 2H. The problem is misguided belief that the refining part of the business is dying with EV’s on the way.
200 day support, oversold territory, stochastics looking ready to turn. Stock lower then Book value unless you factor in Goodwill. Bad time to sell now. Was hoping for an impairment reversal like some of the other companies but I bet we see that still before the year is out.
Those that panic sell now will regret it before the year is out. Time to lighten up was June