Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James and Team Your current view on the Energy stocks. Oil has rallied but WDS and STO have not gained as I would have expected. The rally has rekindled talk of $100-a-barrel crude, although the gains lost momentum over the past week with concerns about the macroeconomic backdrop. Today both WDS and STO have fallen but BPT and KAR have gained. Do you see WDS get back to $38 and STO $8? regards Debbie
Hi Debbie,
We are long WDS in our Flagship Growth Portfolio, at this stage we are still holding Australia’s largest energy stock but as we have alluded to a couple of times over recent weeks it is frustrating that the local names have failed to fully embrace crude oils charge towards $US100/bbl. In terms of WDS reaching $38 and STO $8 they are only 4% and 1% away respectively which in our opinion is random noise.
As we have said before we will/are evaluating our position into strength, rather than weakness.
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