Investing

is now the time to invest in oil stocks?

  • Last Updated:
  • Mar 4th, 2024 9:55 am
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Deal Fanatic
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Jun 19, 2001
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zoro69 wrote: HOU is catching up, still almost 40% to go to get to NAV at $9.68, lol. So many people buying lol

And it is canacord selling to TD (eg pros selling to retail bagholders)
and it is resuming subscriptions, and going back to NAV. Beyond me what anyone was thinking
If you aren't willing to take small losses, then you will take big losses. This is my guarantee. -
Mark Minervini
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Aug 17, 2008
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MEG Energy "First Quarter 2020 Release: May 4, 2020 after market close"

21 minutes to get your lottery ticket
Answer not a fool according to his folly, lest thou also be like unto him = Never argue with an idiot, they'll only bring you down to their level & beat you with experience
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Dec 2, 2017
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Based on the price action of SU for the past few days, I guess they might cut their dividends tomorrow after all
Deal Guru
Feb 4, 2015
10332 posts
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Canada, Eh!!
EuRaFree wrote: Based on the price action of SU for the past few days, I guess they might cut their dividends tomorrow after all
That might actually lift stock.
2022/3: BOC raised 10 times and MCAP raised its prime next day.
2017,2018: BOC raised rates 5 times and MCAP raised its prime next day each time.
2020: BOC dropped rates 3 times and MCAP waited to drop its prime to include all 3 drops.
Deal Guru
Aug 17, 2008
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MrMom wrote: MEG Energy "First Quarter 2020 Release: May 4, 2020 after market close"

21 minutes to get your lottery ticket
faken wrote: 50% of my porfolio is Meg ... lets hope it's good..
I was $2.87 bid and that traded many times towards the end of the day, but just not my lots.

Results are out.

https://www.megenergy.com/investors/fin ... nformation

Update

Seems to inline with consensus.

BRIEF-Meg Energy Suspends Full Year 2020 Production Guidance
May 4 (Reuters) - MEG Energy Corp:

* MEG ENERGY ANNOUNCES FIRST QUARTER 2020 FREE CASH FLOW OF $24 MILLION, CURRENT FULL YEAR 2020 HEDGE BOOK VALUE OF $525 MILLION AND A FURTHER 25% REDUCTION IN FULL YEAR CAPITAL INVESTMENT TO $150 MILLION
* MEG ENERGY CORP - REDUCING PRODUCTION TO MINIMUM LEVELS AND ADVANCING PLANNED PLANT TURNAROUND
* MEG ENERGY CORP - REMAINS WELL POSITIONED FROM A FINANCIAL LIQUIDITY PERSPECTIVE
* MEG ENERGY CORP - EFFECTIVE JUNE 1, 2020, BOARD MEMBERS WILL RECEIVE A 25% CASH COMPENSATION REDUCTION
* MEG ENERGY CORP - CURRENTLY EXPECTS FIRST HALF 2020 PRODUCTION TO AVERAGE APPROXIMATELY 76,000 BBLS/D
* MEG ENERGY CORP - REDUCING ITS 2020 FULL YEAR CAPITAL BUDGET TO $150 MILLION
* MEG ENERGY CORP - PRESIDENT AND CEO WILL HAVE HIS ANNUAL BASE SALARY REDUCED BY 25%
* MEG ENERGY CORP - SUSPENDING FULL YEAR 2020 PRODUCTION GUIDANCE
* MEG ENERGY CORP - EXPECTS TO PRODUCE APPROXIMATELY 30,000 BBLS/D DURING PHASE 1 & 2 TURNAROUND
* MEG ENERGY CORP - EXITED Q1 WITH $62 MILLION OF CASH ON HAND & DOES NOT EXPECT THIS LEVEL OF CASH ON HAND TO MATERIALLY CHANGE IN Q2 OF 2020
* MEG ENERGY CORP - TO REDUCE ITS 2020 FULL YEAR NON-ENERGY OPERATING COSTS AND G&A EXPENSE
* MEG ENERGY - VICE PRESIDENTS WILL RECEIVE A 12% ANNUAL BASE SALARY ROLLBACK AND ALL OTHER EMPLOYEES WILL RECEIVE A 7.5% ANNUAL BASE SALARY ROLLBACK
* MEG ENERGY CORP - EXITED Q1 WITH $62 MILLION OF CASH ON HAND AFTER MAKING A DEBT REPAYMENT OF $132 MILLION IN QUARTER
* MEG ENERGY CORP - CHIEF OPERATING OFFICER AND CFO WILL EACH TAKE A 15% ANNUAL BASE SALARY REDUCTION
* MEG ENERGY CORP - DOES NOT EXPECT THIS LEVEL OF CASH ON HAND TO MATERIALLY CHANGE IN Q2 OF 2020
* MEG ENERGY - MEG'S MODIFIED COVENANT-LITE $800 MILLION REVOLVING CREDIT FACILITY HAS NO FINANCIAL MAINTENANCE COVENANT UNLESS DRAWN IN EXCESS OF $400 MILLION
* MEG ENERGY CORP - NON-ENERGY OPERATING COSTS ARE NOW TARGETED AT $140 - $150 MILLION FOR FULL YEAR 2020
Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)
Last edited by MrMom on May 5th, 2020 8:52 am, edited 1 time in total.
Answer not a fool according to his folly, lest thou also be like unto him = Never argue with an idiot, they'll only bring you down to their level & beat you with experience
Deal Addict
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Aug 23, 2013
1813 posts
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Toronto
Anyone in TOG?

Earnings are expected for tomorrow, hoping it's good.
Deal Guru
Feb 4, 2015
10332 posts
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Canada, Eh!!
Suncor earnings in couple of hours
2022/3: BOC raised 10 times and MCAP raised its prime next day.
2017,2018: BOC raised rates 5 times and MCAP raised its prime next day each time.
2020: BOC dropped rates 3 times and MCAP waited to drop its prime to include all 3 drops.
Deal Guru
Feb 4, 2015
10332 posts
6699 upvotes
Canada, Eh!!
Suncor earnings in couple of hours
2022/3: BOC raised 10 times and MCAP raised its prime next day.
2017,2018: BOC raised rates 5 times and MCAP raised its prime next day each time.
2020: BOC dropped rates 3 times and MCAP waited to drop its prime to include all 3 drops.
Deal Guru
Feb 4, 2015
10332 posts
6699 upvotes
Canada, Eh!!
Thanks.

Could have sworn when checked earlier they said 8pm MT or 10pm EST.

Oh well... as expected dividend cut [by 55%, to $0.21 per common share from $0.465 per common share]
2022/3: BOC raised 10 times and MCAP raised its prime next day.
2017,2018: BOC raised rates 5 times and MCAP raised its prime next day each time.
2020: BOC dropped rates 3 times and MCAP waited to drop its prime to include all 3 drops.
Newbie
Jun 13, 2019
60 posts
63 upvotes
georvu wrote: Thanks.

Could have sworn when checked earlier they said 8pm MT or 10pm EST.

Oh well... as expected dividend cut [by 55%, to $0.21 per common share from $0.465 per common share]
Will this lift the stock price?
Deal Guru
Feb 4, 2015
10332 posts
6699 upvotes
Canada, Eh!!
Isoflex117 wrote: Will this lift the stock price?
Find out tomorrow.

DIS stopped dividend for time being and was down.

IMHO SU needed to do this and expect it to be positive.
2022/3: BOC raised 10 times and MCAP raised its prime next day.
2017,2018: BOC raised rates 5 times and MCAP raised its prime next day each time.
2020: BOC dropped rates 3 times and MCAP waited to drop its prime to include all 3 drops.
Deal Addict
Jan 31, 2016
1008 posts
710 upvotes
Any thoughts on KEL for a long term buy?
Those who dance are considered insane by those who cannot hear the music - Carlin
Member
Aug 15, 2016
213 posts
378 upvotes
Ketchenany wrote: Any thoughts on KEL for a long term buy?
Tough to answer a question like that without knowing your risk tolerance, outlook, etc. KEL is relatively high risk given its current product mix and liquidity (mostly drawn credit facility). They went from being one of the best growth stories to having almost everything shut in. Long term they have one of the best asset positions in the Montney and a very highly regarded management team. If things recovery quickly it could easily be 3 - 5x its current price. If things continue as is or get worse they are not well positioned relative to some of the peers. I bought some at $1.00 when they were underperforming but sold out at $1.50. Not sure I would buy back in again unless oil prices take a couple steps forward.
Deal Addict
Jan 31, 2016
1008 posts
710 upvotes
Brewmaster7 wrote: Tough to answer a question like that without knowing your risk tolerance, outlook, etc. KEL is relatively high risk given its current product mix and liquidity (mostly drawn credit facility). They went from being one of the best growth stories to having almost everything shut in. Long term they have one of the best asset positions in the Montney and a very highly regarded management team. If things recovery quickly it could easily be 3 - 5x its current price. If things continue as is or get worse they are not well positioned relative to some of the peers. I bought some at $1.00 when they were underperforming but sold out at $1.50. Not sure I would buy back in again unless oil prices take a couple steps forward.
Thank you, I appreciate the reply and outlook. I did have a little room for some risk and bought a position today after doing some of my own research. Their management helped make my decision. Cheers.
Those who dance are considered insane by those who cannot hear the music - Carlin
Deal Guru
Feb 4, 2015
10332 posts
6699 upvotes
Canada, Eh!!
IMHO if you did not sell your oil related stocks in April or May then ideally just hold for this year if can fathom the volatility.

Oil will come back and the stocks as well. Talking about bigger oil plays and not any speculative stocks.
2022/3: BOC raised 10 times and MCAP raised its prime next day.
2017,2018: BOC raised rates 5 times and MCAP raised its prime next day each time.
2020: BOC dropped rates 3 times and MCAP waited to drop its prime to include all 3 drops.
Deal Guru
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Sep 21, 2007
13046 posts
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...
georvu wrote: IMHO if you did not sell your oil related stocks in April or May then ideally just hold for this year if can fathom the volatility.

Oil will come back and the stocks as well. Talking about bigger oil plays and not any speculative stocks.
May just started...
While I do believe in bigger oil plays as well..I also believe in buying with volatility for the short. A lot of money can be made if you take a gamble on certain stocks and capitalize on the small profits and invest with that only.
"An essential aspect of creativity is not being afraid to fail." -- Edward Land

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