Their report later today will be straightforward. This year, they already said that if oil is around $80 they will pay out $20 in dividends and at $60, will pay $10. Likely, they will pay the former which amounts to about a 10% yield. Not complex. She owns it for the dividend, not the upside.
Loves the company but he just sold it because it is a prime M&A takeover target. He is overweight energy despite paring this and other energy holdings.
He just trimmed Pioneer, which topped out on Sept. 5, its ex-dividend date, but didn't like how it reversed after that. He still owns some Pioneer shares.
Exxon Mobil is offering 2.3 of its own shares for Pioneer, valuing PXD at $253 per share in a $60 billion all stock deal. Exxon is down somewhat. The energy space is looking good.
There's a floor on the crude oil price, so hold on.