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Investment Q&A

Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.

Q: My partner and I currently have about 16% of all stocks we own in RRSP, Non Registered and TFSA accounts as Canadian oil and gas (excluding oil service, pipelines, etc.). I have brought this down from 19% based on a previous recommendation from 5i. Within the oil and gas stocks I hold, 45% are in Canadian Natural Resources (CNQ), 24% in Suncor (SU), 12% in Husky (HSE), 10% in Cenovus (CVE), 3% in Vermillion (VET), 2% each in Paramount (POU) and Tourmaline (TOU) and 1% in Enerplus (ERF). I feel I probably have too many oil and gas companies in my portfolio and would like your thoughts in consolidating. Reading your previous posts, I get the sense that all of these are good companies thus there isn’t a compelling reason to sell any. However, it seems from your posts that some of my smaller holdings and perhaps Surge and Whitecap, could be increased at the expense of some of the majors with the reason being higher growth for some of the smaller companies. Can you give me your thoughts on the best thing to do with my oil and gas holdings? You suggested some time ago that the larger companies would hold up better during a market downturn. Based on this logic it seems like a perfect time to reduce holdings in some of the bigger names and buy some of the beaten down smaller companies.
Read Answer Asked by ED on October 14, 2014
Q: Hi Peter
You do not to answer this till after the holidays . Di.un. Dundee international . I am down 22% . If Europe is picking up am I justified in continuing to hold .or are there better places to put my money ? CNQ....my next stock... Do I also continue to hold this stock . As with all resources this has been dormant for a while. Is it also a hold ?

Candi
Read Answer Asked by Candi on December 26, 2013
Q: Hello,

I am looking at purchasing a large cap oil company. I would like your opinion on cnq vs suncor? Suncor seems to have rocketed up and cnq is still in the low 30s. What would be a better hold? Also, in general what would you consider a good percentage for a portfolio return, per year, 5%, 7%? What did you aim for when you were a portfolio manager?

Thank you again for a great service!
Read Answer Asked by Greg on November 05, 2013
Q: This morning, CNQ had a conference call on its 2013 budget, and only one analyst in attendance, which made for a pretty short question and answer period. This does not look very serious for such a major company. It so happens that the stock is down today much more than its peers (and is down 25% or so for the past year). Comparatively, in a similar conference Friday, COS had 6 analysts in attendance, and this made for a very healthy question and answer period. Is it normal for a major company like CNQ to have only one analyst in attendance for such an event ? This doen't look well prepared, or am I too critical in this regard ?
Read Answer Asked by Serge on December 04, 2012
Q: I am invested heavily in CNQ and COS, and might do some diversification progressively. As COS is a one-poney company and CNQ is about 70% in oil and 30% in gas. Would it make sense to sell COS first (notwithstanding its more substantial dividend and its just published rather decent quarterly report), as gas seems on the verge of making a come-back and CNQ has a pretty good track record for the past 20 years ?
Read Answer Asked by Serge on October 30, 2012
Q: Today, the WTI price is 86$ per barrel or so. I believe you are confident the price of oil is more likely to be over 100$ in a not too distant future. If that is so, how can that be reconciled with the current glut of oil, and what scenario do you see ahead ? Also, WTI is a standard not always achieved with the current quality of Canadian crude. Canadian Western Select crude is sold at a much lower price, while light oil crude or synthetic crude are usually much closer to the WTI price. Which Canadian oil producers are likely to fare better in such environment ?
Read Answer Asked by Serge on October 29, 2012
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