No add for me at this time to my small losing TOT position. (Also we have a little TOT tucked into Pargesa as you know.)
I am not understanding the upward movement in integrated oil stocks, domestic (USA) nat gas stocks or the Canadian oil/gas/sands stuff. Plus oil service stocks are moving up as well. Maybe the worst (shut down of gas wells, reduced cap expenditures) is already absorbed by the market.
I have decided to close some small positions in oil service stocks and reduce exposure to nat gas companies where forward p/e's seem relatively high. Selling DVN, NBL, WFT, CPX, BJS, others.
Looking at TOT brought me to Shell. Looking at RDSB now, that one does look attractive to me.
Problems with Nigeria; large capital expenditures (oil sands, lng stuff) means Shell might be needing high oil prices to make them pay. And with these big integrateds, there's always the issue of can they even maintain their reserves. Still, with RDSB's p/e and low stock price,
finance.yahoo.com
7.5% dividend yield, and history of profitability so far, maybe RDSB is a buy. I am considering. |
