How to Play Big Oil Earnings: Strategists
Oil giants ConocoPhillips, ExxonMobil and Chevron are expected to report earnings this week, but how should investors position their portfolios? Independent oil trader Daniel Dicker, and Kevin Kerr, president and chief trading officer at Kerr Trading International, share their best energy trades. (See their stock recommendations below.)
“You have to look at the large names that you can buy at bargain prices right now,” Kerr told CNBC.
“If you look at some of the positive numbers that came out: production is up, the refineries are functioning better now.”
Kerr said although earnings were expected to be down, they were higher than what was expected.
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Dicker said oil stocks have been so beaten up in the last year that these levels may be where investors should get in.
“Things can’t get much worse from here,” said Dicker.
No immediate information was available for Dicker or Kerr.