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Initial position is 235,000 shares at 4.35ish, value of ~1M.

Rest of the profits are distributions.

It felt really insane at the time but it really was a "buy when there's blood in the streets" moment.
I remember pundits saying it was the end of oil while in fact it was a "generational opportunity" in commodities !
 

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The last time oil was this high, Suncor was at $40 a share. XEG was above $20.

Of course, Suncor's production is 80%+ higher than 2014, and their capital expenditures are 40% lower. $40 is a no-brainer.
 

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New 52 week high, a day after setting a new 52 week high. Very nice. Refining margins are at close to decade highs. On our way to $40. I don't know if it happens by year end, but next year's traditional energy season (Dec-May) is going to be blockbuster. Gasoline prices are at record levels in October - this alone is such a huge sign that the energy shortage crisis is coming very, very soon.

The thesis that oil assets would be stranded and worthless is becoming, ironically, worthless. They may actually become more and more valuable as companies invest less and less. And Biden continues to beg OPEC to pump more. Only small whining because of COP26; just wait until that dog and pony show is over.
 

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Congrats @larry81 and everyone else who was brave enough to go long energy! The thought crossed my mind, but it just kept going lower and lower and lower.

How many years was XEG extremely disappointing? Even today the 15 year return is -2% annualized, negative! I guess it's one of those sectors you have to actively trade, but not suitable for buy & hold.

I'm getting enough energy exposure through the TSX index. Take a look at XIU, energy is now the second largest sector at 14% and climbing. So I am perfectly happy getting my energy equities through the index. This has already been an incredible year for the Canadian index, and if things continue like this, we could be a global outperformer for years.

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