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Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

TOP PICK
Stockchase Research Editor: Michael O'Reilly

ZRE has rebounded well following the negative tariff news and is reiterated as a TOP PICK.  In a period of stagnant economic growth, REITs are a good space to provide steady cash flow.  ZRE is unique in that it holds an equal weighting of all its holdings and is well diversified.  We continue to recommend a stop at $18.50, looking to achieve $24 -- upside potential of 18%.  Yield 5.4%

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TOP PICK
Stockchase Research Editor: Michael O'Reilly

As a diversified REIT with holdings averaging 12x earnings and trading under book value, we reiterate RIT as a TOP PICK.  It has rebounded well following the negative tariff news.  We continue to recommend a stop at $14, looking to achieve $18 -- upside potential of 18%.  Yield 5.4%

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This is a Panic-proof Portfolio opinion which is available only for Premium members

Curated by Michael O'Reilly since 2020.
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TOP PICK
Stockchase Research Editor: Michael O'Reilly

A unique REIT that offers global diversification and trades at just over book value and holds a portfolio of assets averaging a PE of 24.  We continue to recommend a tight stop at $19.50, looking to achieve $24.50 -- upside potential of 18%.  Yield 5.1% 

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This is a Panic-proof Portfolio opinion which is available only for Premium members

Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

PAST TOP PICK
(A Top Pick Nov 21/24, Down 25%)Stockchase Research Editor: Michael O'Reilly

Our PAST TOP PICK with REPX has triggered its stop at $27.  To remain disciplined, we recommending covering the position at this time.  

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This is a Panic-proof Portfolio opinion which is available only for Premium members

Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

PAST TOP PICK
(A Top Pick Oct 22/24, Down 29%)Stockchase Research Editor: Michael O'Reilly

Our PAST TOP PICK with SITC has triggered its stop at $12.  To remain disciplined, we recommending covering the position at this time.  

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This is a Panic-proof Portfolio opinion which is available only for Premium members

Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

PAST TOP PICK
(A Top Pick Dec 03/24, Down 13.8%)Stockchase Research Editor: Michael O'Reilly

Our PAST TOP PICK with VC has triggered its stop at $82.  To remain disciplined, we recommending covering the position at this time.  When combined with our previous guidance, this will result in a net investment loss of 12%.  

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This is a Panic-proof Portfolio opinion which is available only for Premium members

Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

PAST TOP PICK
(A Top Pick Mar 18/25, Down 7.8%)Stockchase Research Editor: Michael O'Reilly

Our PAST TOP PICK with AOMR has triggered its stop at $9.  To remain disciplined, we recommending covering the position at this time.  When combined with our previous guidance, this will result in a net investment loss of 10%.  

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This is a Panic-proof Portfolio opinion which is available only for Premium members

Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

PAST TOP PICK
(A Top Pick Feb 18/25, Down 6.6%)Stockchase Research Editor: Michael O'Reilly

Our PAST TOP PICK with IMMR has triggered its stop at $8.  To remain disciplined, we recommending covering the position at this time.  When combined with our previous guidance, this will result in a net investment loss of 6%.  

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This is a Panic-proof Portfolio opinion which is available only for Premium members

Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

PAST TOP PICK
(A Top Pick Mar 04/25, Down 26.4%)Stockchase Research Editor: Michael O'Reilly

Our PAST TOP PICK with JILL has triggered its stop at $16.  To remain disciplined, we recommending covering the position at this time.  

COMMENT
Price of oil bouncing around.

The market's trying to get its head around 2 massive uncertainties. One is tariffs, and the impact they may or may not have on global GDP and, therefore, on global oil demand. A few analysts have cut global oil demand for this year. Some parallels are being drawn between March 2020 and today. Back then we had a demand shock, and now we have a potential demand shock. In March 2020, Saudi Arabia surged production capacity to the maximum.

Today we have the voluntary members of an OPEC deal that has curtailed volumes; they've now announced that they're adding barrels and at an accelerated pace. He thinks this is intended to force greater compliance from OPEC "cheaters" of the agreed-upon lower volumes.

In April, seeing production down by a little, but not yet seeing full compliance. Raises concerns as to what OPEC leadership will do in the next several months, which is the second uncertainty. 

Right now, the market's very underexposed to oil. Nobody's bullish, everybody's throwing in the towel. It feels as though we've reached the bottom from a sentiment perspective. He struggles with what's it going to take to see $75-80 oil over the next year. Massive demand uncertainties could change with a single tweet. Overall, feels as though the market could be sloppy for the next year.

HOLD

High exposure to price of oil and to the differential of Canadian heavy oil (back to almost-new lows). Upstream is going exceedingly well. But downstream has poor utilization rates, mishaps, negative EBITDA; those are all the reasons it's massively lagged peers. Fix that, and good rerate potential; won't play out until latter half of 2025 or early 2026.

If you own, he'd hesitate to sell. He's watching, near the top of his list to deploy capital. You could wake up one morning to a big pop in the stock price.

HOLD

Sold off on concerns about Canada, what if another Liberal gets in, tariffs on energy, and exposure to the WCS differential. His fund has to be more sensitive to short-term moves, so he sold and harvested a decent tax loss. So you could sell and buy, say, CVE.

For most retail investors, it's a name you can just sit on. One of the deepest resource bases, rock-solid management team, yield is 6.1% (extremely sustainable). Usually it's defensive.

HOLD

Profitable around $51, so you have about $6 of margin right now. Growing 3-5% per year. Paying down debt, balance sheet extremely strong. Dividends are sustainable down to $52. Wouldn't be surprised if they dialed down capex, which makes the dividend even more secure. Montney assets are significantly better than the market appreciates. Good natural gas weight. Yield is 9.3%.

BUY

Very defendable business in current oil price environment. Massive resource depth. US shale is in its twilight, which means they'll eventually have to come to Canada. Very healthy FCF yield. Buying back lots of stock. 

At least 35 years of stay-flat inventory. Superbly high-quality asset. Good balance sheet. Sold off on tariff concerns. He has lots of confidence in medium- and long-term outlook. Full position in his fund.

SELL

Performed very well. Aggressively buying back stock. Trades at a deserved premium. But today he'd prefer CNQ. Good tax-loss candidate. Very strong balance sheet. FCF today is not what it was.