This morning I initiated a position in small oil company CPE. As best as I can tell from my notes, it is the 63rd stock I have said on this thread that I am buying in the oil/gas/related/ business.
Of the closed out positions, several stocks come to mind as losers. KEG, in which I may or may not have had a small gain or loss, never did much while I held it. (It still hasn't done much over the past year.) I got out of SWN too soon: The stock has since doubled or more. I had losses in Enron, Mirant (still have a few shares), Calpine. I held a few - maybe three - right into bankruptcy (Transcoastal Marine Services, others)
I am holding two loser stocks now that were not mentioned by me on this thread: A very small amount of POCC and a starter tranche in Storm Cat Energy (SMEFF.pk). (It was mentioned by others here, but not previously by me). Of recent buys mentioned here by me, I'm negative in SPI and OTL.
I have a half dozen or more other stocks in this oil/gas/related arena, but these didn't seem to be value plays when I bought them, and so I don't believe I mentioned them here (NOI, RIG, RDC, ESV, etc).
Recently, I seem to be continually adding shares to various oil stocks in my portfolios - I added yet more today. A risky proposition, given that it seems hard for me to characterize the sector as undervalued. Oil prices have fluctuated in past, and if history repeats, oil stocks could fall yet again.
Anyway, fwiw, I like the forward estimated p/e for CPE, and blithely ignoring why that p/e might be low, I have initiated a small position this morning.
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