It is interesting to me because I have noticed they are trading at reasonable valuations, if not cheap. Many are ignoring, and hedge funds are short as ever.
I have also noticed that there are cycles in which oil sets a new paradigm price range.
many of the companies in this industry are buying out competitors right now, and buying back shares with big dividends.
Warren buffets recent largest purchases are in oil companies.
Ive put together a few charts on my tradingview account showing that it is unlikely for these assets to underperform the s&p500. In fact, it looks likely that they will outperform from here on out. I focus on Chevron, but any quality company should do well IMO.
https://www.tradingview.com/chart/CVX/ryGzMz2H-Long-to-topside-of-channel/
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