Stock price when the opinion was issued
They had lots of debt and operational problems, so were in the penalty box. But this integrated has huge long-life reserves. Cash flow is up and pays over 4% dividend and boasts a 100% shareholder return. Excellent balance sheet. Energy is in seasonal strength now.
(Analysts’ price target is $62.29)He sold off a bunch of energy names, but retained this one. Concerns about global recession is hitting energy names. He's in the camp of too early to think about a recession, and tariffs will look very different 6-12 months from now. If we see there's no recession, things can turn around quickly.
200-day and 200-week MAs still moving higher, a good sign. Right at 200-week MA today, and that can be massive long-term support for most stocks. If you own, don't sell. If wanting to buy, this might be your chance to look at it. Yield is 5%.
Solid management and a very good allocator of capital. Expects there will be dividend increases over time. The beauty with oil sands projects and oil sands operators is that once they spend capital to get a project going, there is very little decline and very little maintenance capital to be spent. You will see this company building more projects and expanding, but there will be a significant amount of cash flow being returned to shareholders in the form of dividends.