RE:analysts from marketbeat.comAnd the average target price amongst these 7 analysts is $5.14 or a 67% upside from today's $3.07 close.
But what will the targets be when WTI is back in the $80 to $90 range once winter weather really sets in or another major geopolitical event occurs and TVE's debt and sharecount is lower?
In the meantime, I get a 4.89% dividend paid monthly to wait for a 67% + upside! Add in a little bit of Athabasca Oil shares for growth (unfortunately no divy yet) and relax.
What I find most intriguing about the current price of oil (now below $70) is how the US Democrats continue to mandate phasing out the use of fossil fuels yet US oil production is currently at its highest levels in history all while OPEC is cutting production.
So why is US oil production a records levels and where are all those Climate Change activists that one would expect would be out in full force demanding Biden take action to reduce US fossil fuels production? I'm guessing they've temporarly backed off because the DEMS have convinced them that higher US oil production is needed right now to help lower inflation and improve the economic situation (just in time for the upcoming 2024 US election)? Once the DEMS are back in power for another term, the activists can get back to work.
In the interim, however, I wouldn't underestimate OPEC and in particular the Saudis because when they've had enough of the US oil price manipulation and production shenanigans they will do what they need to in order to get oil prices where they want them. Imagine what a $150 to $200 a barrel oil price would do to re-ignite US inflation and what effect that would have on the DEMS chances of re-election in the months immediately leading up to the 2024 US elections?
These $70 a barrel oil prices are in my opinion only temporary and I'm pretty sure that if the 2 million barrels p/day OPEC cut that kicks in January 2024 isn't enough, there's more cuts where those came from.
My opinion only, please DYODD.
HB77