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Chevron Corporation (CVX $155.20)
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Exxon Mobil Corporation (XOM $118.49)
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Canadian Natural Resources Limited (CNQ $42.38)
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CI Energy Giants Covered Call ETF (NXF.B $7.21)
Q: My CNQ is down $1400 today. Is it time to replace it with a top up of CVX and XOM? Shoiuld NXF-B also be replaced? It may not seem to be affected by the Venezuela takeover as there are no Canadian companies being held. Please take as many credits as required.
As an addendum to my previous question, NXF-B may indeed hold Canadian oil co. Thus is it a sell now due to the Venezuelan takeover? If so please suggest a replacement. Eighty year old value dividend investor. I also gol CVX and XOM. Just add to those?
Thank you
As an addendum to my previous question, NXF-B may indeed hold Canadian oil co. Thus is it a sell now due to the Venezuelan takeover? If so please suggest a replacement. Eighty year old value dividend investor. I also gol CVX and XOM. Just add to those?
Thank you
5i Research Answer:
Please see our energy category for more discussion. We think adding a US name (CVX, XOM) as a hedge makes some sense but we do not see an 'exit' from the Canadian sector is necessary. NXF.B owns 21% Canadian exposure but we do not think it needs to be sold just because of recent events.