With Crude oil Below $60. 3 Quality Lubricant stocks to own for a year.
|Lubricants||Price||Price to Earnings||Price to Book||Target||Target 2||Support||SL|
|Gulf oil lube||815||25||8.6||960||1050||740||690|
|Tide water oil||5460||18||3||6500||8000||5000||4800|
Castrol Share price 153; Target 180 and 220. SL 135.
Stock can immediately move towards 165 and 170 but will face resistance going forward. It would take time to move towards 180 and 220. We see the targets hits in 6 months and 1 year provided Crude stays below $60. Mutual fund holding in the stock are at the highest levels and the stock has good support at 140.
Gulf Oil Lube Share price 815. Target 960 and 1050. SL 690.
Stock had found good support on 200 EMA on weekly charts at 700-750. Stock has good support in this region. With Crude prices easing and with good growth potential in the stock, stock can rally towards 960 and 1050 within a year. Mutual funds are increasing stake in the company lately. Both Gulf oil lube and castrol are cash rich debt free company.
Tide water oil share price 5460. Target 6500 and 8000. SL 4800.
Fundamentally strong and cheap in valuation. Tide water oil is a good buy for long term. Dont see much downside in the stock during correction. Stock has good support between 4800 and 5000. Stock can move towards 6500 and 8000 in 6 months provided the crude stays below $60.
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