Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
To the MM Team, Please can I have an updated view on KAR. I understand that to a large extent the price of listed oil companies are a function of the oil price (and by extension the economy) but KAR has fallen substantially more than WDS. Analyst price expectations seem very optimistic at around $2.40. I think your last update was back in June when you were relatively bullish on the stock. How do you feel now? Thanks, Charles
Hi Charles,
In June we were relatively bullish oil and gas explorer KAR when the stock was ~$1.64 but have avoided both WDS and KAR throughout 2024 as the sector largely “felt wrong.” We have huge conflict in the Middle East yet oil is struggling ~$US75/barrel, as we often say MM doesn’t like markets that cannot rally on positive news tailwinds.
WDS is regarded as more conservative, lower Beta play toward oil and gas, hence accordingly KAR is likely to bounce harder when the worm turns.
Take a free trial.
No payment details required.
Forgot password? Request a One Time Password or reset your password
One Time Password
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
A link to create a new password will be sent to the email address you have registered to your account.
Hi, this is only available to members. Join today and access the latest views on the latest developments from a professional money manager.
Our Smart Phone App will give you access to much of our content and notifications. Download for free today.
