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Chevron Corporation (CVX $167.24)
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Exxon Mobil Corporation (XOM $130.20)
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Enbridge Inc. (ENB $64.66)
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Keyera Corp. (KEY $43.77)
Q: Keyera has been going down for some time. There seems to be no news that I can find,
Do you know why it is so weak? Is it a buy here? Thanks.Cheers
Do you know why it is so weak? Is it a buy here? Thanks.Cheers
5i Research Answer:
KEY has been under pressure recently, along with other players like ENB and TRP, due to the noise around Venezuela oil assets, which investors perceive as negative for Canadian oil value chains, as it makes Canadian oil assets appear less competitive.
With that said, we think it is mostly noise, and U.S. oil companies like XOM or CVX may not be able to start drilling oil overnight anytime soon.