As a small aside I received a notification from Substack about your new article - this article - today, 02 September 2024. They must have used the USPS to deliver it. :D
Hope you are enjoying a good rest and some good wine.
Selling off part of my OKE position (+270%) to fund some additional energy buys. Starting a position in CNQ and CHRD. Slightly enlarging my ET holdings. Finally got the nerve to sell a winner that was only yielding 4.5%. I think the upsides with the 3 I'm adding are better than OKE plus increases my income.
Thank you for including the sections on reclamation and SBC! Very good to see the actual impacts of those are both minor, if you can call $500M such, but it is all relative to cash flow, and that’s small percentages. The SBC topic came up from another writer, but obviously he just made noise without checking the numbers. Guess some people got stunned by some major dilutions on tech growth stocks….
That just reminded me of the cartoon picture of the line of people for negative cash flow growth stocks, and nobody lining up for the 10% cash flow yielding ‘safe’ REITs and energy (midstreams).
This one remains amazing. My only regret is not buying more when you first brought it up a few years ago
Thanks for the deep dive Paul. I consider CNQ to be a core position. I got lucky to scoop 20% more shares 3 weeks ago at C$46 per share. Now a 2.5% position in my portfolio.
Thank you for the great analysis Paul, I've never owned CNQ but now I will. I have a large position in CVE and I would be interested in your take on them and would really appreciate an article on them.
You are welcome, Wally. If memory serves CVE has quite a bit of refining. I don't have a strong opinion there. Not promising a workup on them, but I put it on "the list"
Paul, your deep dives never fail to impress. I'll never fully understand the technical aspects of this company. Thankfully, the masses have you to explain it. Just a wonderful company. The innovation, long-lived reserves and smart capital allocation make this a buy and hold winner. This is easily my second largest position, behind only EPD. Thanks for introducing it to me several years ago. You've made me a lot of money!
Good article on CNQ. Definitely a LT hold for me. With energy in the doldrums now I have been adding energy divi names, CNQ now up to the top of the list (I own a little). Have you ever looked at CHRD?
Thank you for that detail! I will have to re-read it, slowly, with my third cup of coffee. I remain happily with you, holding an average sized position in CNQ. Still, the question that needs to be asked .. if you did not own any shares would you consider purchasing them today, at current prices? :)
Anything on CNQ you can send me is greatly appreciated
EXCELLENT
As a small aside I received a notification from Substack about your new article - this article - today, 02 September 2024. They must have used the USPS to deliver it. :D
Hope you are enjoying a good rest and some good wine.
Thanks for doing such a thorough review of CNQ. I am holding strong!
Thank You That Was Really Well Done
Selling off part of my OKE position (+270%) to fund some additional energy buys. Starting a position in CNQ and CHRD. Slightly enlarging my ET holdings. Finally got the nerve to sell a winner that was only yielding 4.5%. I think the upsides with the 3 I'm adding are better than OKE plus increases my income.
Congratulations on the OKE. Good buy, and good hold. Worked out well.
Thank you for including the sections on reclamation and SBC! Very good to see the actual impacts of those are both minor, if you can call $500M such, but it is all relative to cash flow, and that’s small percentages. The SBC topic came up from another writer, but obviously he just made noise without checking the numbers. Guess some people got stunned by some major dilutions on tech growth stocks….
That just reminded me of the cartoon picture of the line of people for negative cash flow growth stocks, and nobody lining up for the 10% cash flow yielding ‘safe’ REITs and energy (midstreams).
This one remains amazing. My only regret is not buying more when you first brought it up a few years ago
"obviously he just made noise without checking the numbers" .... there are authors I don't read once it is clear that they have that as an MO.
Thanks for the deep dive Paul. I consider CNQ to be a core position. I got lucky to scoop 20% more shares 3 weeks ago at C$46 per share. Now a 2.5% position in my portfolio.
Thank you for the great analysis Paul, I've never owned CNQ but now I will. I have a large position in CVE and I would be interested in your take on them and would really appreciate an article on them.
You are welcome, Wally. If memory serves CVE has quite a bit of refining. I don't have a strong opinion there. Not promising a workup on them, but I put it on "the list"
Paul, your deep dives never fail to impress. I'll never fully understand the technical aspects of this company. Thankfully, the masses have you to explain it. Just a wonderful company. The innovation, long-lived reserves and smart capital allocation make this a buy and hold winner. This is easily my second largest position, behind only EPD. Thanks for introducing it to me several years ago. You've made me a lot of money!
Good article on CNQ. Definitely a LT hold for me. With energy in the doldrums now I have been adding energy divi names, CNQ now up to the top of the list (I own a little). Have you ever looked at CHRD?
Phil, I own CHRD as an upside position.
https://focusedinvesting.substack.com/p/rpd-trade-alert-eb1
Fantastic article! I have a position and will open another one today in a separate account. Thanks for your brilliant analysis!
You are welcome but know that I am fallible.
I get it, but I greatly appreciate your reminder. I'm not about to overdo it, but my historical tendency has been to buy too little. All is well.
Thank you for that detail! I will have to re-read it, slowly, with my third cup of coffee. I remain happily with you, holding an average sized position in CNQ. Still, the question that needs to be asked .. if you did not own any shares would you consider purchasing them today, at current prices? :)
I definitely would. My view is that this one is onward and upward.