LONDON -- Has there been a change of investor sentiment at Xcite Energy
No matter: Today, the share was back in favor, climbing 7% and comprising the single-most popular purchase by the retail clients of stockbroker TD Direct Investing between the market's opening and noon. The price-to-earnings ratio is still astronomic, of course -- an eye-watering 1,200 -- but the newsflow on several fronts has been promising of late, with positive developments on funding, loan finance, sales of crude oil and management changes. And, of course, successful test drilling.
Also catching investors' eyes was BP
From a reserves point of view, the move is probably bad news. But from a strategic and governance point of view, I reckon that many investors would welcome it, if the price was right. Relations with the oligarchs have clearly broken down, and the wrangles now threaten to further adversely affect BP's dividends from its Russian TNK-BP subsidiary. But with a forecast P/E of less than seven and a forecast yield of 5.1%, it's clear that I'm not the only one thinking that BP is looking cheap.
Last up: travel operator and airline Thomas Cook
Up 6% today, Thomas Cook was the eighth-most popular buy among by the retail clients of TD Direct Investing this morning. There's no dividend, but many investors are obviously thinking that a forecast P/E of less than four now looks cheap for a business that seems to be on the mend.
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Malcolm holds shares in BP, but has no disclosable interest in any other of the shares listed. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.
Disclaimer: The TD Direct Investing (www.tddirectinvesting.co.uk) list of Top Ten Buys should not be taken as a recommendation to buy or sell any particular bond or stock, and is not intended as any form of advice. Instead, it is simply an indication of the general buying trends among TD Direct Investing customers during the period stated.