You may recall, around the start of the Pandemic, I bought XOM at $33 a share. I have always been far better at deciding when to buy than when to sell. Overall even with these limitations, I have done OK.
Anyway, XOM hit $84… is it time to sell.
I would gladly accept a lower return for a return to reasonable gas prices. However when my wife complained about the gas prices, considering (unlike Imabass) our level of driving, we are actually doing fine. However, I am no way celebrating.
I have it as well, im inclined to hold. The russia crisis is a bump but i think the price of oil will remain high as long as the world economies continue to rebound. Oil was predicted to hit $150 in summer 2022 and that was before putin got frisky.
Exxon has a sweet dividend, tough decision.
I think most people hold XOM for the dividend during normal times. Obviously buying when oil went negative was a once-in-a-lifetime opportunity. If your goal is capital gains then selling is probably a good idea.
I bought for the Capital Gain… but even at this lofty price, the yield is at 4%. I think I will hold on till Biden shows signs of addressing the Supply problem.
BTW, I bought Delta at the same time… doing OK… nothing like XOM.
Nobody is immune from high gas prices. There are fuel surcharges on all deliveries. This includes groceries to the grocery store and UPS dropping off your amazon packages. This is one driver for Amazon prime going way up.
Pretty much everyone notices and unless you are a trust fund kid, most everyone can relate to paying high gas prices.
Oil traders eye $200 per barrel this month: report Some people are shooting for $200 per barrel. This is entirely plausible. Many are going to see peak pump prices long before peak oil returns. All the labor and materials to get that raw crude refined, transported, and dispensed have gone up.
Do you hold or fold??? I think there is room for it to run higher. The domestic producers will see their profits increase with little changes in input costs with russian oil bans. The only think Biden can do is release more SPR and maybe limit the federal speed limit to 55 MPH. Big oil will do well until the recession happens.
XOM at $86.22 right now.
I would consider selling enough to get my original $ back and let the balance ride for awhile.
XOM is not the best petro stock to buy. I sold my shares long ago. XOM is the GE of the petroleum industry.
These sure seem like the Jack Welch days.
You continue to say that yet XOM is up a lot.
The industry is up. A high tide floats all boats.
Hope you didn’t sell at $84…XOM at $90.53 today.
Decided to sell half at 85.
I am convinced that XOM will return to the 50s after this is over.
Unfortunately, long term, the Oil Companies appear to be in the situation that the Cigarette Companies were in years ago.
I expect them to diversify into other areas as Phillip Morris did with Miller Beer. When you are in the cross hairs of Government, silly to increase investment… open new wells etc.
It will take a political reversal to change things and even then one wonders if that will last beyond future elections.
Remember Biden promised to shut down oil in the Dem Primary and got elected. Oil is in for a rough ride.
Will XOM reach 100 before it retreats to 50?
Things are moving too fast to stay all in.
Now looking for a safe High Dividend stock.
Dont let politics affect your investing decisions. And dont forget, XOM is a global company.
He knows that…he’s just trying to find a way to blame Biden for his profit.
He could be right, but oil was predicted to go to $150 a barrel BEFORE Putin got frisky. You’ll have to pry my oil stocks from my cold dead fingers.