- Cenovus Energy Inc. (CVE)
- MEG Energy Corp. (MEG)
- Athabasca Oil Corporation (ATH)
- Baytex Energy Corp. (BTE)
Q: With the uncertainty of Trump how do you feel about the oil/gas companies. Specifically CVE, ATH, MEG, BTE. Is it time to buy sell or hold.
5i Research Answer:
We are not overly concerned about tariffs on the sector. Oil prices are still going to be set globally. Essentially, the Canadian sector valuations already reflect a lot of risk and uncertainty. We think MEG looks good here, as does CVE. ATH looks OK, and we would rank BTE last as it really has created no shareholder value in 20 years (20 year return is -71%).