One of my favorite oil companies is SGY. Tuesday evening they announced news on a new discovery:
LAFAYETTE, LA., June 2– Stone Energy Corporation (NYSE: SGY) announced a discovery on its deepwater Pyrenees Prospect, located on Garden Banks Block 293. Continue reading..
SGY is a major player in the Gulf with their Deepwater Pyreneer Prospect, and they are keeping service companies, like SLB, booked with work. I think the stock is cheap under $10, and the pullback we got yesterday was a gift.
I happen to think every portfolio needs a little exposure to oil. If you find yourself without exposure, look no further than SGY. The stock has support around 8.47, with a few moving averages below that level. I think your downside is limited, provided you have your stops in place. With new target prices on oil from Goldman, I think the sector still has some juice in it.
Disclaimer: Long SGY
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Nailed that sucker RC; it’s number one for percentage gainers on my Investment Spotter Watch List.
Attaboy. Long since $3.27. loving it.
i’m in. what’s the target?
SGY = my ibc stock of the year
indeed, it is blessed.
BEE buzzing higher
AXL about to BTFO
Lafayette,La.
Cajun Territory.
indeed it is.
If you like AXL, you will love TRID.
HW breaking out
indeed, I like both.
DOn’t forget SPWRA from Sunday’s report. I jumped in earlier today, looks great.
TRID – PPT already knows why.
Still digging BEE?
I bought SGY because of you and CA, and it has been one of my best stocks. In fact, bought more this morning. Thank you!