Eric Nuttall
Member since: Mar '10
Partner & Senior Portfolio Manager at
Ninepoint Partners
Ninepoint Partners
1883 Opinions
Latest Top Picks
Profoundly undervalued. At current oil price, it is trading at 19% free cashflow yield. They should reinstate their dividend which they cut. At $50-$60 oil, it trades at 2.1-2.9x and at 38%-63% free cashflow yield. CPP owns roughly 30% of the company. (Analysts’ price target is $2.48)
Bullish on gas for the first time in years. Outlook for gas is very strong. An easy way to play growing demand. You have scale, good balance sheet, dividend payments. Valuation is good. 15% free cashflow at $50 oil. 90% upside is possible. (Analysts’ price target is $22.52)
The biggest land driller in Canada and one of the largest in North America. They still generated free cashflow even during challenging times. At $50 oil, they can generate free cashflow equivalent to their market cap if producers drill to maintain production. Downside is limited since they generated free cash this year still. (Analysts’ price target is $1.22)
(A Top Pick Nov 15/19, Down 31%) There were talks of expanding outside of Colombia during better times last year. MNA is no longer a priority. They are trying to maximize their share buybacks. A net cash, debt free company, which is a good position. The valuation is less attractive than others.
(A Top Pick Nov 15/19, Down 33%) The stock is down 53% year to date. They were not rash in the beginning of the year. They only cut dividends by 50% compared to others who slashed them or cancelled completely. A good executer of mergers and acquisitions. There is insider buying, dividend, and good balance sheet. A net negative emitter due to their CO2 injection project so it is good for ESG investors. Trading at 3.9x next year and 20% free cashflow yield.
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COMMENT
COMMENT
October 16, 2020
He thinks there is a shot for WTI to rise to $50. The economy is healing quicker than thought. The crude surplus YOY and other fuel demands are compressing. Inventory is falling around the world. Demand is also rising; for example, in India, diesel demand is up 9%.
Show full opinionHide full opinion
He thinks there is a shot for WTI to rise to $50. The economy is healing quicker than thought. The crude surplus YOY and other fuel demands are compressing. Inventory is falling around the world. Demand is also rising; for example, in India, diesel demand is up 9%.
COMMENT
COMMENT
October 16, 2020
U.S. Shale. The US shale story is over. They will never surpass the high watermark of 13M barrel per day. It negates US growth. Looking at non-US production, we are in the 6th year where we're not investing enough to offset global declines. He is overwhelmingly bullish on oil.
Show full opinionHide full opinionU.S. Shale. The US shale story is over. They will never surpass the high watermark of 13M barrel per day. It negates US growth. Looking at non-US production, we are in the 6th year where we're not investing enough to offset global declines. He is overwhelmingly bullish on oil.
COMMENT
COMMENT
October 16, 2020
He does not believe OPEC will increase production. There is no meaningful reason for a supply response. The additional 2M barrels per day expected in January will not come online either probably.
Show full opinionHide full opinionHe does not believe OPEC will increase production. There is no meaningful reason for a supply response. The additional 2M barrels per day expected in January will not come online either probably.
DON'T BUY
DON'T BUY
October 16, 2020
It would not be a name he would own. The number of market participants are very small. There is a certain market-cap threshold for market relevance. There is a pressure for MnA. It has higher cost, medium heavy oil company. They suspended dividends.
Show full opinionHide full opinionIt would not be a name he would own. The number of market participants are very small. There is a certain market-cap threshold for market relevance. There is a pressure for MnA. It has higher cost, medium heavy oil company. They suspended dividends.
oil/gas
COMMENT
COMMENT
October 16, 2020
Large scale consolidation in energy. Hopefully there will be mergers and acquisitions. There is a management entrenchment problem. The boards or CEOs don't want to transact right now.
Show full opinionHide full opinionLarge scale consolidation in energy. Hopefully there will be mergers and acquisitions. There is a management entrenchment problem. The boards or CEOs don't want to transact right now.
COMMENT
COMMENT
October 16, 2020
He is bullish on natural gas with less swamping of the market from the US. Global demand is improving for LNG. It is his small cap pick. They are aggregating free cash to pay all debt and then pay dividends.
He is bullish on natural gas with less swamping of the market from the US. Global demand is improving for LNG. It is his small cap pick. They are aggregating free cash to pay all debt and then pay dividends.
oil/gas
BUY
BUY
October 16, 2020
Sold the stock a couple months ago and then bought back a 5% weight this morning. The stock has probably bottomed. The market wanted them to transact and when they did not execute, the multiple collapsed. At $50 oil, it will trade at 2.3x cashflow. The stock price could triple going forward.
Show full opinionHide full opinionSold the stock a couple months ago and then bought back a 5% weight this morning. The stock has probably bottomed. The market wanted them to transact and when they did not execute, the multiple collapsed. At $50 oil, it will trade at 2.3x cashflow. The stock price could triple going forward.
oil/gas
PARTIAL BUY
PARTIAL BUY
October 16, 2020
The Painted Pony transaction is immaterial in the grand scheme of things for CNQ. CNQ is a well-run company. It could probably double from here with their cashflow break even being at $27 for maintenance cap-ex. A very well-run and cheap large cap. He just prefers small cap.
The Painted Pony transaction is immaterial in the grand scheme of things for CNQ. CNQ is a well-run company. It could probably double from here with their cashflow break even being at $27 for maintenance cap-ex. A very well-run and cheap large cap. He just prefers small cap.
oil/gas
DON'T BUY
DON'T BUY
October 16, 2020
Shorting this has been a good play. There have been operational challenges and there were mine depletions. ESG forces are also a headwind. A well-owned company still being the largest in Canada. If oil prices inflect soon, Suncor will be a beneficiary.
Show full opinionHide full opinionShorting this has been a good play. There have been operational challenges and there were mine depletions. ESG forces are also a headwind. A well-owned company still being the largest in Canada. If oil prices inflect soon, Suncor will be a beneficiary.
integrated oils
DON'T BUY
DON'T BUY
October 16, 2020
There is debt load and the primary asset is not operated in Eagleford. The differentials have also shrank to 9$ today. The debt hurts them and the market does not believe in $50 oil. He would prefer MEG.
There is debt load and the primary asset is not operated in Eagleford. The differentials have also shrank to 9$ today. The debt hurts them and the market does not believe in $50 oil. He would prefer MEG.
oil/gas
BUY
BUY
October 16, 2020
At $60 oil, share prices should be at $2.80 (269% upside). Even without higher oil prices, the share prices have been so depressed that it is trading right now at 14% free cashflow yield at current prices.
Show full opinionHide full opinionAt $60 oil, share prices should be at $2.80 (269% upside). Even without higher oil prices, the share prices have been so depressed that it is trading right now at 14% free cashflow yield at current prices.
oil/gas
COMMENT
COMMENT
October 16, 2020
There were developments where activists are pressuring banks to no longer lend to energy companies. However, energy is one way for the country to get out of the debt problem and in his opinion this is even more reason to be bullish.
Show full opinionHide full opinionThere were developments where activists are pressuring banks to no longer lend to energy companies. However, energy is one way for the country to get out of the debt problem and in his opinion this is even more reason to be bullish.
oil/gas
BUY
BUY
October 16, 2020
It has a high quality asset base. Historically, it traded at a massive premium. Current natural gas and oil prices, it is trading at a 10% free cashflow yield. Because the stocks are beaten down, you can get a pretty good deal if you believe oil prices will strengthen.
Show full opinionHide full opinionIt has a high quality asset base. Historically, it traded at a massive premium. Current natural gas and oil prices, it is trading at a 10% free cashflow yield. Because the stocks are beaten down, you can get a pretty good deal if you believe oil prices will strengthen.
oil/gas
WAIT
WAIT
October 16, 2020
It was a past pick. He trimmed half his position today to buy Enerplus and another company. The CEO and board are quite timid when they should be more aggressive. They cut the dividends by 71%. There is no exploratory risk and is one of the more defendable business. A new CEO must be more aggressive.
It was a past pick. He trimmed half his position today to buy Enerplus and another company. The CEO and board are quite timid when they should be more aggressive. They cut the dividends by 71%. There is no exploratory risk and is one of the more defendable business. A new CEO must be more aggressive.
oil/gas
TOP PICK
TOP PICK
October 16, 2020
Profoundly undervalued. At current oil price, it is trading at 19% free cashflow yield. They should reinstate their dividend which they cut. At $50-$60 oil, it trades at 2.1-2.9x and at 38%-63% free cashflow yield. CPP owns roughly 30% of the company. (Analysts’ price target is $2.48)
Show full opinionHide full opinionProfoundly undervalued. At current oil price, it is trading at 19% free cashflow yield. They should reinstate their dividend which they cut. At $50-$60 oil, it trades at 2.1-2.9x and at 38%-63% free cashflow yield. CPP owns roughly 30% of the company. (Analysts’ price target is $2.48)
oil/gas
TOP PICK
TOP PICK
October 16, 2020
Bullish on gas for the first time in years. Outlook for gas is very strong. An easy way to play growing demand. You have scale, good balance sheet, dividend payments. Valuation is good. 15% free cashflow at $50 oil. 90% upside is possible. (Analysts’ price target is $22.52)
Show full opinionHide full opinionBullish on gas for the first time in years. Outlook for gas is very strong. An easy way to play growing demand. You have scale, good balance sheet, dividend payments. Valuation is good. 15% free cashflow at $50 oil. 90% upside is possible. (Analysts’ price target is $22.52)
oil/gas
TOP PICK
TOP PICK
October 16, 2020
The biggest land driller in Canada and one of the largest in North America. They still generated free cashflow even during challenging times. At $50 oil, they can generate free cashflow equivalent to their market cap if producers drill to maintain production. Downside is limited since they generated free cash this year still. (Analysts’ price target is $1.22)
Show full opinionHide full opinionThe biggest land driller in Canada and one of the largest in North America. They still generated free cashflow even during challenging times. At $50 oil, they can generate free cashflow equivalent to their market cap if producers drill to maintain production. Downside is limited since they generated free cash this year still. (Analysts’ price target is $1.22)
oil/gas field services
PAST TOP PICK
PAST TOP PICK
October 16, 2020
(A Top Pick Nov 15/19, Down 31%) There were talks of expanding outside of Colombia during better times last year. MNA is no longer a priority. They are trying to maximize their share buybacks. A net cash, debt free company, which is a good position. The valuation is less attractive than others.
Show full opinionHide full opinion(A Top Pick Nov 15/19, Down 31%) There were talks of expanding outside of Colombia during better times last year. MNA is no longer a priority. They are trying to maximize their share buybacks. A net cash, debt free company, which is a good position. The valuation is less attractive than others.
oil/gas
PAST TOP PICK
PAST TOP PICK
October 16, 2020
(A Top Pick Nov 15/19, Down 33%) The stock is down 53% year to date. They were not rash in the beginning of the year. They only cut dividends by 50% compared to others who slashed them or cancelled completely. A good executer of mergers and acquisitions. There is insider buying, dividend, and good balance sheet. A net negative emitter due to their CO2 injection project so it is good for ESG investors. Trading at 3.9x next year and 20% free cashflow yield.
Show full opinionHide full opinion(A Top Pick Nov 15/19, Down 33%) The stock is down 53% year to date. They were not rash in the beginning of the year. They only cut dividends by 50% compared to others who slashed them or cancelled completely. A good executer of mergers and acquisitions. There is insider buying, dividend, and good balance sheet. A net negative emitter due to their CO2 injection project so it is good for ESG investors. Trading at 3.9x next year and 20% free cashflow yield.
Oil and Gas (Integrated Oils)
PAST TOP PICK
PAST TOP PICK
October 16, 2020
(A Top Pick Nov 15/19, Down 58%) A very well run company that is undervalued.
Show full opinionHide full opinion(A Top Pick Nov 15/19, Down 58%) A very well run company that is undervalued.
oil/gas
N/A
N/A
September 18, 2020
The biggest takeaway from the OPEC meeting was the Saudis implementing penalties for those who are cheating. The market's lack of confidence for normalization of oil demand is driving the price. Supply is down more than demand loss. In a year or two, there may be a supply crisis.
Show full opinionHide full opinionThe biggest takeaway from the OPEC meeting was the Saudis implementing penalties for those who are cheating. The market's lack of confidence for normalization of oil demand is driving the price. Supply is down more than demand loss. In a year or two, there may be a supply crisis.
COMMENT
COMMENT
September 18, 2020
The jet fuel market is down around 25%. The demand for raw materials are rising. 60% of Europeans surveyed no longer consider mass transit, and used car demand is rising. Although demand is changing, the supply side is what will change permanently.
Show full opinionHide full opinionThe jet fuel market is down around 25%. The demand for raw materials are rising. 60% of Europeans surveyed no longer consider mass transit, and used car demand is rising. Although demand is changing, the supply side is what will change permanently.
BUY
BUY
September 18, 2020
A leverage play on heavy oil. It remains a core holding and he just bought another tranche yesterday. Demand for Canadian heavy oil is set to rise. The company has good capacity to bring it to the Gulf coast. The valuation is compelling with good cash flow. Oil at $50-$60 would mean this stock could double.
Show full opinionHide full opinionA leverage play on heavy oil. It remains a core holding and he just bought another tranche yesterday. Demand for Canadian heavy oil is set to rise. The company has good capacity to bring it to the Gulf coast. The valuation is compelling with good cash flow. Oil at $50-$60 would mean this stock could double.
oil/gas
DON'T BUY
DON'T BUY
September 18, 2020
He sold it a few days ago. The amount of financial participants in the sector right now is a fraction of what it was in the past. There is financial leverage that dissuaded him from holding. There are more compelling opportunities.
Show full opinionHide full opinionHe sold it a few days ago. The amount of financial participants in the sector right now is a fraction of what it was in the past. There is financial leverage that dissuaded him from holding. There are more compelling opportunities.
oil/gas
BUY
BUY
September 18, 2020
He has been adding to his position. They have successfully transitioned from a growth story. They are now into maintenance mode. Their free cashflow has now gone up and they can generate $350M of free cashflow. The company may start looking into share buybacks.
Show full opinionHide full opinionHe has been adding to his position. They have successfully transitioned from a growth story. They are now into maintenance mode. Their free cashflow has now gone up and they can generate $350M of free cashflow. The company may start looking into share buybacks.
Energy
BUY
BUY
September 18, 2020
It is the poster child of the left-for-dead names for no fault of their own. They have a strong balance sheet, and lean asset base but they were beaten down because they are less focused on growth. They can generate a lot of free cashflow.
Show full opinionHide full opinionIt is the poster child of the left-for-dead names for no fault of their own. They have a strong balance sheet, and lean asset base but they were beaten down because they are less focused on growth. They can generate a lot of free cashflow.
oil/gas
HOLD
HOLD
September 18, 2020
It is undoubtably inexpensive at 3x cashflow. However, he no longer owns this because there are other opportunities, but there is nothing wrong with this name.
Show full opinionHide full opinionIt is undoubtably inexpensive at 3x cashflow. However, he no longer owns this because there are other opportunities, but there is nothing wrong with this name.
oil/gas
DON'T BUY
DON'T BUY
September 18, 2020
It's in the doghouse and it has been an under-performer. The funds have been flowing towards CNQ. We're at the bottom of the cycle, so there are better companies to buy.
It's in the doghouse and it has been an under-performer. The funds have been flowing towards CNQ. We're at the bottom of the cycle, so there are better companies to buy.
integrated oils
PAST TOP PICK
PAST TOP PICK
September 18, 2020
(A Top Pick Oct 01/19, Down 69%) It was a sneaky way to get US exposure. However, Canada is the place to be for energy investors now. Takeaway capacity has been improving and outlook for differentials are positive. This may be a value trap.
Show full opinionHide full opinion(A Top Pick Oct 01/19, Down 69%) It was a sneaky way to get US exposure. However, Canada is the place to be for energy investors now. Takeaway capacity has been improving and outlook for differentials are positive. This may be a value trap.
oil/gas
PAST TOP PICK
PAST TOP PICK
September 18, 2020
(A Top Pick Oct 01/19, Up 18%) He still likes it. You get premium asset quality, lower operating cost and low financial leverage. There was a CEO change. You get good exposure to natural gas. It is still inexpensive.
Show full opinionHide full opinion(A Top Pick Oct 01/19, Up 18%) He still likes it. You get premium asset quality, lower operating cost and low financial leverage. There was a CEO change. You get good exposure to natural gas. It is still inexpensive.
oil/gas
PAST TOP PICK
PAST TOP PICK
September 18, 2020
(A Top Pick Oct 01/19, Down 56%) He thinks the stock could double from the current price.
Show full opinionHide full opinion(A Top Pick Oct 01/19, Down 56%) He thinks the stock could double from the current price.
oil/gas
COMMENT
COMMENT
September 18, 2020
A good way to get exposure to natural gas. They may not benefit as much from the price of natural gas rising as others, but they have good free cashflow. He would allocate 4-5% of his portfolio to it.
Show full opinionHide full opinionA good way to get exposure to natural gas. They may not benefit as much from the price of natural gas rising as others, but they have good free cashflow. He would allocate 4-5% of his portfolio to it.
oil/gas
COMMENT
COMMENT
September 18, 2020
It's fine but they have a lot of refining exposure where there is overcapacity. It's not terribly overbought like CNQ. There may be better areas to be invested. You probably want Canadian small-cap with some natural gas.
It's fine but they have a lot of refining exposure where there is overcapacity. It's not terribly overbought like CNQ. There may be better areas to be invested. You probably want Canadian small-cap with some natural gas.
oil/gas
WATCH
WATCH
September 18, 2020
Insiders are buying more of the stock. They sold their primary asset. It's up to the team to show that the rest of the assets are as good quality. The streets are sceptic. If the well economics are the same, we will see a rerating.
Show full opinionHide full opinionInsiders are buying more of the stock. They sold their primary asset. It's up to the team to show that the rest of the assets are as good quality. The streets are sceptic. If the well economics are the same, we will see a rerating.
oil/gas
TOP PICK
TOP PICK
September 18, 2020
It is well-positioned to benefit from the potential M&A wave. They are backed by CPP. It is a cashflow machine. A name that has meaningful upside once people want to own the sector. (Analysts’ price target is $2.58)
Show full opinionHide full opinionIt is well-positioned to benefit from the potential M&A wave. They are backed by CPP. It is a cashflow machine. A name that has meaningful upside once people want to own the sector. (Analysts’ price target is $2.58)
oil/gas
TOP PICK
TOP PICK
September 18, 2020
They recently made an acquisition. The ability to transact is important and the stock has done well. They will continue to be active in mergers and acquisitions. A 20-30% cashflow yield. (Analysts’ price target is $3.55)
Show full opinionHide full opinionThey recently made an acquisition. The ability to transact is important and the stock has done well. They will continue to be active in mergers and acquisitions. A 20-30% cashflow yield. (Analysts’ price target is $3.55)
Oil and Gas (Integrated Oils)
TOP PICK
TOP PICK
September 18, 2020
They own land and people pay them to drill on it. The stock has fallen just as much as other names in the energy sector. There was a change in CEO who may be able to communicate better than the last one. Trading at a massive discount. (Analysts’ price target is $6.17)
Show full opinionHide full opinionThey own land and people pay them to drill on it. The stock has fallen just as much as other names in the energy sector. There was a change in CEO who may be able to communicate better than the last one. Trading at a massive discount. (Analysts’ price target is $6.17)
oil/gas
COMMENT
COMMENT
August 6, 2020
We're on the cusp of a new bull market for oil? Once we emerge from the Covid destruction, we'll exit this year about 4% below prior conditions. It's all about supply. The last 5 years have revolved around US shale. But due to shutting of external sources of funding and investor apathy, shale companies are aiming to grow at most 5% a year. The world relies on US shale, so the future is very different from the past. Saudi remains with a budget deficit on the price of oil. We can get back to $60 oil next year.
Show full opinionHide full opinionWe're on the cusp of a new bull market for oil? Once we emerge from the Covid destruction, we'll exit this year about 4% below prior conditions. It's all about supply. The last 5 years have revolved around US shale. But due to shutting of external sources of funding and investor apathy, shale companies are aiming to grow at most 5% a year. The world relies on US shale, so the future is very different from the past. Saudi remains with a budget deficit on the price of oil. We can get back to $60 oil next year.
COMMENT
COMMENT
August 6, 2020
The biggest opportunities are in Canadian small and mid cap names? Going forward, investors don't want growth of capital. They want dividends and share buybacks. Low debt levels and low corporate decline rates let them do this. Canada shines in this area. Already seeing capital flow back to Canada. Conditions in a few months will be tighter. His fund is 100% invested in Canada right now.
Show full opinionHide full opinionThe biggest opportunities are in Canadian small and mid cap names? Going forward, investors don't want growth of capital. They want dividends and share buybacks. Low debt levels and low corporate decline rates let them do this. Canada shines in this area. Already seeing capital flow back to Canada. Conditions in a few months will be tighter. His fund is 100% invested in Canada right now.
DON'T BUY
DON'T BUY
August 6, 2020
Right now, you want to focus on oil over gas, and in the small to mid cap space. He's always struggled with owning this. Highly leveraged. There are better opportunities. It's going to be a laggard. For now, you want to be in name brand companies.
Show full opinionHide full opinionRight now, you want to focus on oil over gas, and in the small to mid cap space. He's always struggled with owning this. Highly leveraged. There are better opportunities. It's going to be a laggard. For now, you want to be in name brand companies.
oil/gas
DON'T BUY
DON'T BUY
August 6, 2020
Liked their ability to buy back shares from free cash flow. But then management decided to chase growth, so he divested. Decent gas exposure. Its recovery is still too low to attract investor interest. Better names to own.
Show full opinionHide full opinionLiked their ability to buy back shares from free cash flow. But then management decided to chase growth, so he divested. Decent gas exposure. Its recovery is still too low to attract investor interest. Better names to own.
BUY
BUY
August 6, 2020
It remains a top holding for him. The company is cheaply valued relative to asset quality and balance sheet strength. He thinks it's too cheap to last and the sector will probably consolidate. He expects it to be acquired at a meaningful premium.
Show full opinionHide full opinionIt remains a top holding for him. The company is cheaply valued relative to asset quality and balance sheet strength. He thinks it's too cheap to last and the sector will probably consolidate. He expects it to be acquired at a meaningful premium.
oil/gas
DON'T BUY
DON'T BUY
August 6, 2020
They recently declared bankruptcy. There is no equity value remaining in this company.
Show full opinionHide full opinionThey recently declared bankruptcy. There is no equity value remaining in this company.
Energy
DON'T BUY
DON'T BUY
August 6, 2020
A small cap, medium heavy producer. Because they own older fields, operating costs are higher. Banks cut their lines by 30%. There is free cashflow and there is liquidity. However, he would look elsewhere.
Show full opinionHide full opinionA small cap, medium heavy producer. Because they own older fields, operating costs are higher. Banks cut their lines by 30%. There is free cashflow and there is liquidity. However, he would look elsewhere.
oil/gas
WATCH
WATCH
August 6, 2020
They pushed their debt to come to term in 2022. An ultra-high torque and leverage stock. If there is an oil shortage and oil price rises to $60, it can be a great play.
Show full opinionHide full opinionThey pushed their debt to come to term in 2022. An ultra-high torque and leverage stock. If there is an oil shortage and oil price rises to $60, it can be a great play.
oil/gas
BUY
BUY
August 6, 2020
He just bought some more this morning. Because of the sell-off, you can buy stocks that have a potential to double. You get natural gas and liquid gas. The quality of assets, balance sheet strength and free cashflow is good.
Show full opinionHide full opinionHe just bought some more this morning. Because of the sell-off, you can buy stocks that have a potential to double. You get natural gas and liquid gas. The quality of assets, balance sheet strength and free cashflow is good.
oil/gas
WEAK BUY
WEAK BUY
August 6, 2020
There was a fear that Q2 results were going to be bad. In his opinion, Q2 is irrelevant. Outlook for next year is positive. He thinks there are better opportunities but it is a good name too.
Show full opinionHide full opinionThere was a fear that Q2 results were going to be bad. In his opinion, Q2 is irrelevant. Outlook for next year is positive. He thinks there are better opportunities but it is a good name too.
oil/gas
DON'T BUY
DON'T BUY
August 6, 2020
He wouldn't own this name. There are too many assets globally and it is over leveraged. It's hard to maintain focus and cost controls globally. He would prefer a more focused company.
Show full opinionHide full opinionHe wouldn't own this name. There are too many assets globally and it is over leveraged. It's hard to maintain focus and cost controls globally. He would prefer a more focused company.
Healthcare
BUY
BUY
August 6, 2020
He is bullish on oil. There are 11 names in the fund, focusing on generating outsized returns. Average name has 40% free cashflow at $60 oil.
Show full opinionHide full opinionHe is bullish on oil. There are 11 names in the fund, focusing on generating outsized returns. Average name has 40% free cashflow at $60 oil.
Energy
PAST TOP PICK
PAST TOP PICK
August 6, 2020
(A Top Pick Aug 30/19, Down 21%) He sees a supply shortage in global oil. The call on oil is only going to grow. They have 60+ years of reserves, and they are ready to go down in the Gulf Coast. Free cash generation is positive.
Show full opinionHide full opinion(A Top Pick Aug 30/19, Down 21%) He sees a supply shortage in global oil. The call on oil is only going to grow. They have 60+ years of reserves, and they are ready to go down in the Gulf Coast. Free cash generation is positive.
oil/gas
PAST TOP PICK
PAST TOP PICK
August 6, 2020
(A Top Pick Aug 30/19, Down 58%) It's been lagging in the past months. He has been adding to it. They have drilled high quality wells in the property they acquired from Cenovus. There is a good potential to increase free cashflow in the next couple years.