Michael Wursthorn
speaker
1,567 appearances
29 recordings
1 series
first heard Jul 2017
last heard Nov 2021
Michael Wursthorn’s voice in public audio — every appearance, attributed to the second.
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Appearances
So when you did see those oil prices start to move up, the stocks weren't really following.
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So in the eyes of some investors, even where energy stocks are as of recently, they're, I think, the third best performing sector in the S&P 500 right now.
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There's still, in their view, valuations look very cheap.
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So I believe it's around a 19 times forward multiple of price to earnings.
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For the broader S&P, it's around 16 times.
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And energy, back in January, was trading at 30 times.
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So it's a lot more attractive sector in just the past two, three months.
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So for a lot of them, they feel like some of those companies that have just been sort of bouncing along, not really moving much, that they could really see a 50%, 60% gain very easily just this year, as long as energy prices stay where they are or go a bit higher.
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The share producers here in the U.S., I mean, one of the things they've been doing since the oil bust back in 2014 is that they've been slimming down their operations, getting really efficient at doing just a few things really well instead of trying to pour a ton of money into these massive capital projects that take many years to build.
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And the risk that all those companies took was huge.
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You know, if the price of oil doesn't stay where it is, you're still left funding these projects that may not be as profitable as you thought it was.
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So, companies have gotten a lot more disciplined saying, we're not going to spend that much cash.
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We're going to try to really, you know, try to avoid that.
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You know, for a lot of investors, they do fear that that still may not be enough.
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I mean, in a lot of cases, that break-even point for oil, you know, they say $50, $55 a barrel.
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You still saw companies struggling them just to get their free cash flow positive in those situations.
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Yeah, it's merely a supply demand sort of situation.
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So if the U.S.
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does continue on this pace, and I think I believe by 2020, there's projections that the U.S.
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will surpass Russia in terms of producing the most oil.
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Showing 1261–1280 of 1,567 · page 64 of 79
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