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Today, Eric Nuttall commented about whether FRU-T, WCP-T, TOG-T, KEL-T, CVE-T, BIR-T, TOG-T, ARX-T, ERF-T, SU-T, CPG-T, TVE-T, VII-T, BTE-T, MEG-T are stocks to buy or sell.

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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.

COMMENT

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.

BUY

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.

DON'T BUY

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.

BUY

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.

BUY

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.

HOLD

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.

DON'T 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.

PAST TOP PICK

(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.

PAST TOP PICK

(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.

PAST TOP PICK

(A Top Pick Oct 01/19, Down 56%) He thinks the stock could double from the current price.

COMMENT

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.

COMMENT

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.

WATCH

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.

TOP PICK

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)

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Latest Stock Buy or Sell? Make More Informed Decisions!

A Comment -- General Comments From an Expert(A Commentary)

A Comment -- General Comments From an Expert(A Commentary)

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