Oil Stocks: Ross Healy, Strategic Analysis Corporation
Ross Healy, chairman and CEO, Strategic Analysis Corporation
On Oil:
Longer-term outlook still good even though there is some short-term weakness due to slowing economy..US economy slowing visibly..
PETRO-CANADA (NYSE:PCZ TSE:PCA): we own Petro-Canada, owned it for long time..fair market value from current prices right out of sight..big question with Petro-Canada as with most oils is will it move with short-term outlook or more long-term..cheapest of integrated oils
TALISMAN ENERGY (NYSE:TLM TSE:TLM): I do not own Talisman, has not been a stock that I particularly cared for..it has got lots of upside..if we did get a takeover mania in the oils then I would hate to be out of oil, broadly speaking..Talisman as good and solid as any
CANADIAN NATURAL RESOURCES (NYSE:CNQ TSE:NCQ): CNQ has tremendous exposure to oil sands..they are developing that exposure steadily..long-term outlook in terms of reserves excellent..short-term fair market value very high compared to current price..company strikes me as natural takeover target..pure speculation but is that kind of company..solid intrinsic value
NEXEN (TSE:NXY): lots of room to go if market decides..getting about 4X book value..little on the expensive side in terms of oil stocks..in terms of fair market value, trading at fraction..I suspect we need to have a merger mania to move them..
TOP PICK PENNWEST ENERGY (NYSE:PWE TSE:PWT.UN): one of the very cheapest price to book value of oil stocks..does pay nice dividend and will for a period of time..longer term I like the energy patch..we have held Penn West when it was an energy company..I like management, they even have lots of exploration potential
TOP PICK ENCANA CORP (NYSE:ECA TSE:ECA): I have had this for long time..if you look at gas situation, production of gas in North America from existing wells falling..demand for gas increasing, particularly in oil sands where they are using a lot..long-term demand high and strong..real issue Canada faces is we have commitments to supply natural gas in NAFTA..
On Oil:
Longer-term outlook still good even though there is some short-term weakness due to slowing economy..US economy slowing visibly..
PETRO-CANADA (NYSE:PCZ TSE:PCA): we own Petro-Canada, owned it for long time..fair market value from current prices right out of sight..big question with Petro-Canada as with most oils is will it move with short-term outlook or more long-term..cheapest of integrated oils
TALISMAN ENERGY (NYSE:TLM TSE:TLM): I do not own Talisman, has not been a stock that I particularly cared for..it has got lots of upside..if we did get a takeover mania in the oils then I would hate to be out of oil, broadly speaking..Talisman as good and solid as any
CANADIAN NATURAL RESOURCES (NYSE:CNQ TSE:NCQ): CNQ has tremendous exposure to oil sands..they are developing that exposure steadily..long-term outlook in terms of reserves excellent..short-term fair market value very high compared to current price..company strikes me as natural takeover target..pure speculation but is that kind of company..solid intrinsic value
NEXEN (TSE:NXY): lots of room to go if market decides..getting about 4X book value..little on the expensive side in terms of oil stocks..in terms of fair market value, trading at fraction..I suspect we need to have a merger mania to move them..
TOP PICK PENNWEST ENERGY (NYSE:PWE TSE:PWT.UN): one of the very cheapest price to book value of oil stocks..does pay nice dividend and will for a period of time..longer term I like the energy patch..we have held Penn West when it was an energy company..I like management, they even have lots of exploration potential
TOP PICK ENCANA CORP (NYSE:ECA TSE:ECA): I have had this for long time..if you look at gas situation, production of gas in North America from existing wells falling..demand for gas increasing, particularly in oil sands where they are using a lot..long-term demand high and strong..real issue Canada faces is we have commitments to supply natural gas in NAFTA..
posted by Spelunca at 3:26 PM
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