Opinions Eric Nuttall
Tourmaline Oil CorpTOU.TOWATCHNov 21, 2024
Eric NuttallStock price when the opinion was issued
As of Jun 26, 2026. Market Open.
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Paying you really well to wait. At the time, he bought it for the nat gas market finally turning; all those catalysts are still in place. Still cheaper than it ought to be. Not an "if" story, just a matter of time. Sit and enjoy your dividend; will start to work probably in the not-too-distant future.
Greg NewmanAll energy stocks have come off because we've had (cynically) a "peace scare" in the Middle East. This company's big thing is natural gas, and he likes that. Energy sector will continue to be robust.
Also likes, and owns, CVE and PPL.
Brendan CaldwellThe US-Iran war changed the LNG world, given the Strait of Hormuz closure. This gives Canada a huge opportunity. TOU already supplies US producers.
(Analysts’ price target is $71.84)
Ryan BushellHe likes energy stocks. It's rangebound between $58 to nearly $70. So buy and sell at the bottom and top of this range. He collects the dividend.
Keith RichardsNever discount the important of dividends to your total return! Underwhelming, while a lot of other energy stocks have really taken off. Has "oil" in its name, but it's actually Canada's largest nat gas producer. SHEL acquisition of ARX was a watershed moment in the Canadian oil patch and, in particular, nat gas.
Still grossly undervalued.
Brian MaddenExporting through LNG Canada to capture Asian pricing for nat gas is going to be big.
Darren SissonsLike both, but TOU has been sideways, because they are investing in capex, but turning back to shareholder returns. So, TOU should return to vogue. TVE has been a tear lately but trades at 11x forward PE with good growth. TVE will be a little more volatile.
He bought at the bottom of their range and sold at the top. Many times this has broken out, many times it has failed to sustain that. The blockage of oil in the Middle East effects everyone. He would sell shares soon.
Keith RichardsIf you already have oils in your portfolio, don't buy now. If you share his thesis that the Strait will be challenged with only some traffic going through, then we're probably looking at $80-90 oil. Canadian oil companies are at a massive advantage because we're really trying to expand our markets.
For a 5-year horizon, CNQ looks really good. On the nat gas side, he likes TOU and PEY.
Not an oil producer per se, as it produces primarily natural gas (actually Canada's largest). He's constructive on nat gas prospects given that Alberta's starting to build data centres, demand for clean power is increasing, and LNG terminals are being built (while damage to Quatar's facilities might take 3-5 years to repair).
Also see his Top Picks.
Brian MaddenHe doesn't have any direct holdings in energy. Since 2022 it has been in a trading pattern around $64 with a high of $71 and a low of $54. It has rallied quickly because of the Iran war. However he wouldn't buy it since he thinks it would still trade in that consolidation range. If owned, he would hold. The world wants the war in Iran to be resolved quickly.
Tricky. Natural gas stocks have been on a tear the last few days, super hot, on fire. Extension of the Trump presidency. Certain investors are feeling FOMO if they don't own energy. Valuations are still compelling.
Thematically, he's bullish gas. Still exposed to weather, and though it's been warm up till now, there's a cold forecast. Gas can be volatile, so these names can be more volatile than oil. This name has lagged, and that could unwind. Doesn't love the variable dividend; instead, should be buying back stock. Good company, lots of inventory. But tactical timing is tricky.