Energy Holdings as of Friday, end of quarter
Posted by zmann on September 30, 2006
Still holding my ECA, EOG, SWN, HAL, VLO, XOM, HOC, and PTEN puts in energy. Got beat out of SU and SLB but will be back. After this “restng phase” for commodities, I think the slide continues, probably starting next week. In fact, analysts and their minions are probably burning the midnight oil (which is good because there’s lots of it to go around) retooling their models. They’ve gathered the information over the last 2 weeks and now that the quarter is over none of the IR guys will talk to them afterwords due to REG FD. Next week comes the estimate reductions to “mark-to-market” the third quarter (notice I didn’t say price target or rating reductions- those will come after the first nasty company comments about reduced oil field activity to be announced in late October). The one exception may be the refineries where estimates have been dropping almost daily (despite the recent upgrades, go figure).