Time for big oil purchases?

[Bassin08]

This is more than a curiosity to me! I was laid off in late 2019 (pre-covid) due to low oil and gas prices. The industry was already having issues prior to covid. It is likely that I will retire early because of ongoing limited job opportunities (been looking for a year).

BUT, I did buy several oil and pipeline stocks during the pandemic. It is hard to overlook these stocks when some are paying 7-10% dividends. I did also buy several other non-oil stocks during the March-April lows, so doing quite well. I think that the oil/gas/pipeline stocks will outperform over the next 18 months.

I remember when Kinder Morgan cut their dividend by 75% overnight. The stock tanked quite quickly.

[dvl2700]

I purchased 75 shares of XOM on 10-29 at 32.10 per share. Seemed like a good move on a high dividend stock. Oil will be with us for the next decade until electric is more available and cheaper to the masses. Wish I had more money to throw at it and other stocks but most of my money is tied up in Vanguard ETF's.
Big question now is how long do I hang on before pulling the trigger and selling ? Right now resting on a 20% gain.

Well I sold my XOM Exon at 46.98 on the way down. Then it went right back up to above 50. Ugh. I see it was back back down to 49 and today is slightly above 50. I guess the question is do I jump back in to XOM, or pick up a different oil related stock ? What says you ?

[2015Ranger]

I believe big oil will come back with this admin, remember when gas was almost $4 a gallon? Guess who was in control then.

[idbefishing]

Wow. Congrats to you guys that have been holding XOM, CVX, etc since November

[Bassin08]

Wow. Congrats to you guys that have been holding XOM, CVX, etc since November

I’ve been holding XOM for over ten years. I’m hoping to get even some day.