Hi Tom,
I've given it some thought and I'm guessing either the mutual funds/big money managers are not heavily invested across the board, believe this is a short-term phenomenon given the rapid and unexpected fall in price of oil, or if they just need more time to divest shares/inventory???
I'm still sticking to my personal thought that the rapid and seemingly unexpected oil price drop hasn't given the big oils (XOM, CVX, and COP) management time to execute what now must be newly developed or newly developing fiscal strategies to manage resources/assets accordingly.
Therefore, with oil around $50 to $55, I'm thinking they may have a little more stock price rounding out as things remain unsettled. I'm hoping to pick up one or two of those at a little better value. COP at $60 would be right on top of a 5% dividend yield.
Alton