Oil is up as is the market. Oxy up 9-10%. Yipee!
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Shale is dead, the companies just haven’t caught up yet.
Robinhood is a stock trading app. Lots of "kids" have taken up day trading instead of Fortnite during this lockdown.
Robinhood stole from the rich and gave to the poor. That analogy applies how??
The fracking industry can’t survive without the financial lending edifice that previously sustained it. If crude doubles in price, we “might” have something to talk about. 👍🏻
Entire market is up as it usually is around earnings time. Do you really think Oxy will survive (figuratively vs literally) this earnings season once its revealed that they will once again dilute shares by paying off Uncle Warren's debt with preferred shares? They will be punished again because they still aren't generating enough FCF to pay down debt.
And as long as stock price is below the warrant target price, what does it matter?
Cut out the middle managers, save greatly in G&A, pay down debt. Oil prices being up isn’t going to help Oxy get out of its stupidity.
Chalk it up to senseless Robinhooders
Those 5 years must be why the stock is up 14% today. Investors must like those fat companies. Maybe they don't know what you know.
Woohoo! Should only take 300 years to pay off the crushing debt now, instead of 305 years.
Even with oil at 42 there is still too much fat in oil companies to meet the efficiencies needed for the next 6 months to a year.