RBC Capital Markets head of global energy research Greg Pardy’s most recent report notes that oil sands producers, with stock prices previously held back by greenhouse gas emissions concerns and a lack of pipeline capacity, are seeing positive news on both fronts. He estimates significant upside ahead for select stocks.
Initial flows of heavy oil are already making their way through the Trans Mountain pipeline extension to the west coast. An estimated 379,000 extra barrels per day will be transported by the end of the second quarter of this year. Mr. Pardy estimates that Canada’s primary oil sands producers – Canadian Natural Resources, Suncor, Cenovus, Imperial Oil and MEG Energy – trade at an average 2 per cent discount to large European producers and roughly 3 per cent below U.S. major oil producers.
After a surge of almost 30 per cent for the S&P 500 Index over the past 12 months, many diversified portfolios will almost certainly be overweighted in the U.S. market. If you own U.S. stocks or equity funds, some portfolio rebalancing is probably in order. If you have little or no U.S. exposure, get it.of the 2024 Globe and Mail ETF Buyer’s Guide covers 10 funds you can use to cover off U.S. markets.The IPO market has been graveyard quiet for two years now. U.S.