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Goldman Sachs raises price targets on big oil - YouTube
Channel: CNBC Television
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all right perhaps no surprise wall
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street is still very hot on energy two
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big calls in the space today first
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goldman sachs raises price targets on
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the super majors
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exxon goes steph to a 117 from 104 it's
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now 103.
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conoco goes to 140
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from 130 it's now 120.
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chevron goes to 181 the stock sitting at
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179 and change so it's not exactly a big
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bump and all these stocks have done
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quite well you have chevron
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which if i recall correctly just became
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your second largest energy position
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because slumber j slumber j just jumped
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it from i think what you told me last
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week in overtime
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yes yes summer j is by far my biggest
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energy play right now chevron is second
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and diamondback energy is third i am
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double my benchmark waiting so it means
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i'm 10 in my portfolio is energy
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very strong free cash flows we've talked
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about them low break evens across the
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board supply and demand obviously
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there's a huge imbalance and it's not
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getting better anytime soon valuations
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still are very very attractive and i
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think what you're going to see is
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earnings revisions going higher and
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these companies have pricing power so
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chevron i kind of barbell it i mean
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chevron is kind of the big boring play
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right and integrated and it's got a good
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dividend good assets tons of free cash
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flow keep buying back a lot of stock i
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think they can get to a 5 billion
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buyback slumber j is my hidden
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technology play they make their
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customers more efficient and talk about
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pricing power and margins margins have
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gone up for seven straight quarters in a
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row fourth lumberjack and they're going
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to be up 200 basis points this year
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according to guidance and then
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diamondback they are doing some fun
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things in terms of what their free cash
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flow special dividends it now yields
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four percent and they've got very good
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assets so and it tries at seven times
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earnings i mean so i think these stocks
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can still be bought and i'm using the
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weakness on whenever we get it to buy
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more doc you're a diamondback guy in
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fact energy is your largest sector
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yep it is scott and it has been all year
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and to give you an idea um peabody
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energy for instance now this is a you
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know more of a coal play but nonetheless
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peabody patterson energy console
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these are up between 70 and 180 percent
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this year to your point
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i joined steph and bryn talkington in
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fang and in venom
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those are two stocks vnom and fang
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that are really involved of course in
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fracking but there are so many energy
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plays and i don't disagree with steph
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about the
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people that go out with technology to
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help
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get more energy out of the ground
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whether it's halliburton or slumbergae
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or a host of others national oil well
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varco i own almost all of them and uh
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you know that's my favorite part of the
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portfolio without a doubt jason snipe
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you go broad xle but you also have
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chevron
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obviously i mean energy is has grown
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tremendously this year it's up 60
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percent year-to-date you know chevron's
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been the fully integrated name that we
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like as steph mentioned great dividend
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strong free cash flow i mean revenue was
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up 70 percent last quarter so um energy
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we've been market weight this year i
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mean we missed a little bit of the run
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up so but i do agree that you know if
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you're looking at oil crude as a proxy
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and that gas like we talked about
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earlier um these names have more room to
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run so i think you can buy them on any
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pullbacks
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52-week highs conoco phillips marathon
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petroleum valero 66
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apache uh jim you have kinder morgan you
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don't own marathon anymore right now
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sold it a few weeks ago um wish i'd held
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on to it but it had done so well for me
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that i decided a bird in the hand is
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worth two in the bush what i own scott
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uh i've kind of got a barbell approach
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here i've got kinder morgan which is a
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nice dividend play and to the whole
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natural gas discussion that that we were
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having about three quarters of their
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business is natural gas so i really like
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that one but my sort of sleeper for the
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next couple of years is transocean i
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will admit last summer i bought this as
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more of a trade but as i think about
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this supply demand imbalance we're going
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to be drilling everywhere the rigs that
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transocean has cold stacked are going to
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come out of cold stack their new builds
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on order are going to get immediately
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put into production and at higher and
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continually rising day rates so i really
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like trans ocean here
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you
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