Ovintiv has great assets. I followed it before Encana broke up and the name was changed with the head office moving to U.S. Since then, it is in the basket of companies I avoid owing to my lack of confidence in the Biden administration and the risk of an executive order that will harm U.S. producers - e.g. a windfall profits tax, a ban on necessary pipeline infrastructure. The stock has had a great run and will likely trade higher as natural gas prices keep rising but I prefer Canadian names like BIR.TOCVE.TOPEY.TONVA.TO and SDE.TO
Eric Nuttall has added them to his fund which is interesting. But they also hedge quite a bit, and plan to keep hedging though selling calls. That makes me want to stay away.
Thanks Michael. All very useful. Have bought both headwater and RBY today but couldn’t buy much of latter as no price quoted!!! Frankly seems most of these smaller Canadian oil stocks are a big atm
This is gold! Thanks Michael. Curious about your thoughts on Ovintiv. Free cash flow is incredible.
Ovintiv has great assets. I followed it before Encana broke up and the name was changed with the head office moving to U.S. Since then, it is in the basket of companies I avoid owing to my lack of confidence in the Biden administration and the risk of an executive order that will harm U.S. producers - e.g. a windfall profits tax, a ban on necessary pipeline infrastructure. The stock has had a great run and will likely trade higher as natural gas prices keep rising but I prefer Canadian names like BIR.TO CVE.TO PEY.TO NVA.TO and SDE.TO
Eric Nuttall has added them to his fund which is interesting. But they also hedge quite a bit, and plan to keep hedging though selling calls. That makes me want to stay away.
Thanks a lot for this Michael. Sold off OVV and bought RBY.
Thanks Michael. All very useful. Have bought both headwater and RBY today but couldn’t buy much of latter as no price quoted!!! Frankly seems most of these smaller Canadian oil stocks are a big atm