Q: Two questions:
(1) If you could only own one of CNQ or SU, which would you choose, and why?
(2) If both CNQ and SU could be owned, in equal amounts, are their profiles and metrics such that diversification would be enhanced?
Thanks as always for your insight.
(1) If you could only own one of CNQ or SU, which would you choose, and why?
(2) If both CNQ and SU could be owned, in equal amounts, are their profiles and metrics such that diversification would be enhanced?
Thanks as always for your insight.
5i Research Answer:
We are largely indifferent. SU is currently cheaper, has a higher yield, and has outperformed in the short term. CNQ has done better over a longer period. Today we would be fine either way, but we would not consider them different enough so that one needs to own both.