Oil Stocks: Brian Acker, Acker Finley
Brian Acker, president and CEO, Acker Finley on Oil Stocks:
On Oil Stocks:
(oil stocks) are undervalued..we see a lot of value in these names (oil stocks)..we’re not making a call..we don’t care where oil goes, we just look at individual securities (oil stocks) relative to consensus earnings, relative to interest rates, and they’re very cheap..certainly companies like CONOCO-PHILLIPS (NYSE:COP) and VALERO (NYSE:VLO) buying shares back..investors don’t appreciate them..more of a secular thing..
PETRO-CANADA (NYSE:PCZ TSE:PCA): we have model price of $70.38..balance sheets are growing, making these oil stocks cheaper over time if price does not move..great buy at $42.30
ENCANA (NYSE:ECA TSE:ECA): good time to get in three weeks ago..model price of $72.45..
SUNCOR (NYSE:SU TSE:SU): licking my chops..good stuff comes back bigtime..came down to our model price..love to buy back around $67.76Cdn..
PENN WEST (NYSE:PWE TSE:PWT.UN): model price of $57.58..we would recommend purchase..
TOP PICK SHELL CANADA (TSE:SHC): unbelievable opportunity..model price of $41..(oil) stock could fall back to $30..make money on this one..just picked it up beginning of October
TOP PICK VALERO (NYSE:VLO): 6% weight in US fund..model price of $95.50..positive 80% differential..falling from players selling cyclicals and getting into consumer staples..
On Oil Stocks:
(oil stocks) are undervalued..we see a lot of value in these names (oil stocks)..we’re not making a call..we don’t care where oil goes, we just look at individual securities (oil stocks) relative to consensus earnings, relative to interest rates, and they’re very cheap..certainly companies like CONOCO-PHILLIPS (NYSE:COP) and VALERO (NYSE:VLO) buying shares back..investors don’t appreciate them..more of a secular thing..
PETRO-CANADA (NYSE:PCZ TSE:PCA): we have model price of $70.38..balance sheets are growing, making these oil stocks cheaper over time if price does not move..great buy at $42.30
ENCANA (NYSE:ECA TSE:ECA): good time to get in three weeks ago..model price of $72.45..
SUNCOR (NYSE:SU TSE:SU): licking my chops..good stuff comes back bigtime..came down to our model price..love to buy back around $67.76Cdn..
PENN WEST (NYSE:PWE TSE:PWT.UN): model price of $57.58..we would recommend purchase..
TOP PICK SHELL CANADA (TSE:SHC): unbelievable opportunity..model price of $41..(oil) stock could fall back to $30..make money on this one..just picked it up beginning of October
TOP PICK VALERO (NYSE:VLO): 6% weight in US fund..model price of $95.50..positive 80% differential..falling from players selling cyclicals and getting into consumer staples..
posted by Spelunca at 11:03 PM
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