Jun. 10 at 2:47 PM
I think a lot of people are missing the point on
$OXY . While we all want the big pop, it is unlikely to happen and arguably wouldn't be the best outcome for the stock. Prolonged elevated oil prices will serve the company much better than a short term spike. A spike to
$150+ in oil will create significant demand destruction and likely be a short event.
Oil at
$80+ is going to be a boon for the company allowing them to clean up their balance sheet (clear debt or preferred stock obligations) making it more profitable if and when oil returns to
$60.
PATIENCE.