Investment Q&A

Q: Hi Peter, What do you think of Murphy Oil ? Where would you rank it to hold vs VLO, SU, & IMO ? Thank you.

Q: Refineries seem to be in a sweet spot with no new refineries being built recently and anticipated strong demand in the near future. Would investing in this sector be prudent in these volatile times and if so what company would be your best pick. Thanks

Q: Here in the Maritimes where we have regulated fuel prices, the regulators have found it necessary to substantially raise fuel prices, especially diesel and heating oil, for several days in a row. I am assuming the same is true in the rest of the country. Since crude prices have been somewhat flat recently while distillate inventories have been reported getting tight, is it a good assumption that these higher fuel cost dollars are ending up as crack spread profits to oil refiners? If so can you name your picks of companies that will be benefitting from this?
Thanks
Gary

Q: Want your opinion on valero, was a recommendation from Wilsey asset management thx

Q: Any update on HPF? Thanks very much

Q: would any of you happen to know who the main refiners are of jet fuel whose share price has been decimated but could rebound if the jets and planes start suddenly flying again in a year or two . Thanks a lot.

Q: Hello, the current dividend of Valero is 9%. How would you evaluate the risk of the dividend being cut? Valero price is almost at its lowest in 5 years, would you hold or add to it? Thanks, Gervais

Q: What are your thoughts on holding VLO?
It had what I thought was a good 1st quarter.

Thank you
Stephane

Q: I assume that low oil prices will be a benefit to refiners. Which of these could benefit most from a return to air travel and cruise ship activity?

Q: Would you buy these and in what order?

Thanks,
Milan

Q: I know you don't follow US companies that closely but what are your thoughts on this one ? I'm an RBC client and they have an outperform rating on it and a target of $102.00 USD. I recently purchased it around $80.00 USD only to see it drop to $64.00. Thoughts on a recovery ?

Q: I have both MPC and VLO. I understand that VLO is purely a refiner and not hostage to world oil prices, but MPC does have some exploration and production assets.
1. Is my understanding correct?
2. If yes, to what extent are MPC’s earnings and cash flow DEPENDANT on oil prices? I am trying to assess the extent to which MPC’s prospects are completely out of MPC’s control.
3. Are dividends well covered?
4. Is interest coverage adequate?
5. Based on your view of each of these company’s prospects going forward, is each of these companies worth holding?
6. You previously (Maureen December 9) you identified MPC as a beneficiary of the new rule requiring ships to use more refined oil. Is VLO also a beneficiary?

Q: Following the permanent closure of Phillidaphia Energy Solution refinner, which refiner would benefit the most from this supply shock (e.g. refining footprint in the eastern coast)? Thanks.

Q: Hello
Could you comment on VLO and CU earnings?
Thank you.
Stephane

Q: What are your thoughts on these us companies. Roy

Q: I own both of the above and have done well over the 5 month holding period. Both stocks have slipped recently and I am wondering if you would consider keeping both or move on other pastures. Thank you.

Q: Hello

I was wondering if I could have your opinion on Valero?

Can you give me guidance for 2018?

Thank you







Do you favour

Q: I hold several oil and gas exploration & production (E&P) companies. On every one of them I have significant losses, as many people do. I also have two oil refiners: VLO and MPC. I am shocked to see capital gains on both. Do oil refiners not move down when oil prices go down? I didn't see CONSISTENT correlation so I suspect I may be doing something wrong. Thus I seek your insight and deep, deep thoughts. Are both these companies just refineries? Or do they have some exploration and production in their operations ?
Would you continue to hold MPC and VLO ? If you wanted to realize cash for deployment elsewhere, which one (IF ANY) would you sell-- and WHY please.
Thank you

Q: I currently have half positions in these energy co.s & would like to move to full positions but am waiting on the uncertainty with the US to settle. It also appears that the OPEC production cuts are actually occurring to some extent but that they are only for a 6 month period. Given the US uncertainty & the OPEC situation I am wondering what the impacts might be on Cdn energy stocks & your thoughts on when to move to full positions, or whether the expiry of the OPEC agreement might be negative for Cdn energy? As always, thanks for your insights.

Q: I presently have VET, RRX, WCP, & SPE & VLO as energy stocks & am thinking of adding SU for its size & dividend as a long term hold. I would appreciate your thoughts & whether you feel the current price is an appropriate entry point? Thanks.