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Imperial Oil Limited (IMO)
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Tourmaline Oil Corp. (TOU)
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CES Energy Solutions Corp. (CEU)
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TerraVest Industries Inc. (TVK)
Q: Underweight Energy. Considering either CEU or TVK. Please rank. Or are they different enough to own both in equal amounts? Thanks for your insights.
5i Research Answer:
For capital appreciation potential, we would be more inclined to add to TVK. TVK is still cheap and growing rapidly in recent years through acquisitions.
For a balance of capital appreciation and dividends (could be less potential for total return), we would side with CEU. CEU is cheap, but capital returns is not as aggressive compared to IMO or TOU.
We are okay to own both, we think both names are fine companies to own to get exposure to energy themes, and we think they are different enough.