Panic in the oil field. Listen to Scott Sheffield, as his voice begins to crack in panic, explain that there will only be 10 independent companies remaining by the end of 2021. Consolidation in the industry you ask? Not a chance. TOO MUCH DEBT.
Crude oil has been slammed amid a price war between Saudi Arabia and Russia and a global economic slowdown. Pioneer Natural Resources CEO Scott Sheffield shares his industry outlook. $PXD pic.twitter.com/8ud4XAPwup
— CNBC's Fast Money (@CNBCFastMoney) March 26, 2020
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Here are your independent oil and gas stocks that could be in trouble, all levered up with insanely high debt to equity ratios:
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$PXD Pioneer is looking like the winner here with one of the lowest debt to equity ratios in the industry. The stock traded down to $48 at one point last week, and has recovered sharply over the last week. Look to buy bloody day dips here, if you must trade the earl. That said, it’s a oil dumping war. Tread Carefully.
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