It hit a '52 week low' today of 61.41, and closed at $62.47 on above average volume (but NOT a huge volume for this stock - normal shakeout - probably showing what Due refers to as 'capitulation' - but I'm not a chartist).
I consider the oil and gas PRODUCER stocks, of solid companies (which XEC is extremely solid) to be better than gold - for those that are looking for fairly non-volatile earners.
Note that XEC is PRIMARILY a NATGAS producer - with a very high percentage of their revenue coming from natgas. It is about a 60/40 split (gas/oil) - which is extremely high for a mid-sized independent oil company. This is a GOOD THING - not a downside. August is a 'low month' for natgas prices historically. It picks up in Sept and Oct as storage gets stocked for the winter. I have NOT checked the current 'storage' numbers to see if they are above or below normal - but consider that rather immaterial at the current time.
REMEMBER - OIL AND GAS have INTRINSIC VALUE to the economy of the world, indeed - it is a FUNDAMENTAL commodity, and probably the MOST valuable commodity of any. It can NOT be replaced with other items - as metals, crops, and other 'fundamental' commodities can be - making the 'others' somewhat fungible in nature.
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