Exxon Mobil (XOM)

The best run company in the US. His model price is $111.55, a 23% upside. People are basically jettisoning these oil names out of their portfolios. As a Value manager, he wants to be there.

(Market Call Minute.) There are better places to be in the energy market. Too broad-based.

Doesn’t think there is any reason for a Canadian to own this. The 2^nd largest company globally, by market cap. If you are a fund manager, and your job is to get tens of billions of dollars out the door, you invest in something like this. There are far better alternative names in Canada with dividend yields.

Well managed international energy giant. Dividend has gone up and the stock is not ridiculously priced. Fully priced. Very difficult to say where oil is going to go. US have big stockpiles of oil, but price persists in staying high. In spite of everybody talking about replacing oil with renewable resources, it doesn’t seem to be happening any time soon. Thinks there is still money to be made owning companies like this. If you in a taxable account, there is a tax benefit to having a Canadian company.

A great name. Large integrated global producer. She likes energy long-term. With all the new technology going on in the US, they are going to be well-positioned. Good, long-term hold for people that want exposure to energy.

Owns 70% of Imperial Oil. This one is okay, but it just drifts along. When one part of company is doing well another isn’t. He would prefer to be more focused. Prefers the US drillers.

If this fell back to the $84 level, he would buy a heck of a lot more. Warren Buffett disclosed that he had a big position in it. This is only the 3^rd time it has traded at this valuation in the last 18 years. He can see a 30% upside in this.

Great American company. Fully integrated oil company. They are going to have their ups and downs. Early into natural gas area. No reason to stay away.

She owns Chevron. XOM is reasonable from a multiple perspective but Chevron will do better from a growth perspective.

Trading at about 2.5X BV. Has reasonable upside potential, but only reasonable. In other words, the stock is not cheap. He prefers others.