By
Anders Bylund
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August 5, 2011
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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of natural gas marketer Crosstex Energy (Nasdaq: XTXI ) fell as far as 17% before retracing to a smaller 8% drop, all on fairly heavy volume.
So what: The market gave a positive first reaction to last night's second-quarter report, sending share prices up by 5% in after-market action. But the thrill of terrific sales and a 44% year-over-year jump in distributable cash flows faded in the daylight hours, drowned by a cacophony of market worries and falling oil-and-gas prices.
Now what: This too shall pass, I say. Crosstex, its sister company Crosstex Energy (Nasdaq: XTEX ) , and rivals such as Western Gas Partners (NYSE: WES ) sport some of the strongest dividend payouts on the market, backed by those strong and still-rising cash flows. It'll take a market disaster of truly epic proportions before I'd tell you to stay away from these stocks, and I say that as a longtime energy skeptic.
Interested in more info on Crosstex Energy? Add it to your watchlist.
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