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Enbridge Inc. (ENB $62.97)
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Canadian Natural Resources Limited (CNQ $43.59)
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Tourmaline Oil Corp. (TOU $59.30)
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BMO Equal Weight Oil & Gas Index ETF (ZEO $78.13)
Q: I own the BMO Equal Weight Canadian Oil and Gas Index ETF (ZEO) as well as some Canadian Natural Resources (CNQ), Tourmaline Oil (TOU), and Enbridge (ENB). All have done well. But oil prices are expected to fall in 2026 due to excess supply. Plus, with the US takeover of Venezuela, my understanding is that demand for Canadian oil could drop. Could you please rate each as a sell or hold? I hold ZEO in my TFSA if that make a difference. Would you swap any for a US oil company and/or a US Oil and Gas ETF? Thank you.
5i Research Answer:
Please also see this answer from Monday morning. We would rate all the securities here as HOLDs right now, pending what happens this week. The sector will take a bit of a hit on Monday but we would not 'react' here. Most are already very cheap. We would be fine adding some US sector exposure (CVX or an ETF) as a hedge, however.