Q: I'm considering a switch from CNQ to PEY, would you make that change? PEY has been doing well in recent years and CNQ has been lagging behind. What's your thought on that idea? Thanks.
5i Research Answer:
This is really a commodity switch (oil to gas). PEY has outperformed this year, but CNQ has a very very (and better) long term record (+154% vs -39%). CNQ is significantly larger. We think PEY is a decent natural gas call right now, but if just one is to be owned we would side with CNQ all day long.