14 Month Share Comp - SU, CVE & CNQSome interesting share price comparisons for your thoughts. In June 2022 SU traded at a high of around $53, CNQ approximately $83.50 and CVE at a high just over $30.50.
14 months later SU is trading at $41, CNQ at $81.50 and CVE at $25.50.
The share price of all 3 have dropped significantly at times over the past year and all 3 have had nice recoveries over the past 3 months. But what stands out to me is SU is still down 22% from 14 months ago, CVE is still down 17%, and CNQ is down only 2%.
These are all excellent Canadian oil and natural gas companies despite having differences in products and operations. Imo this is not bad for SU and CVE, it shows a great opportunity for both for a nice capital gain. Of course we need oil to stay in the $80 range and a recovery in NG (especially for CVE & CNQ). I believe CNQ also has a good upside although likely a lower %. SU doesn't have significant NG production, but it makes up for it with significant refining operations.
As I mentioned in another recent post I am a retired senior who worked in the Ab oil industry (pipelines), but I still have a love for the industry and do hold some shares in these 3 companies . I am also
also a big believer in TOU, but that is for a later date. Like most small stubborn oil and NG investors I have been very fortunate the past 3 years and I am hoping this is the next run up after the relatively recent share price declines. I may be wrong as nothing is a sure bet in this industry. I believe the shorters and hedge funds have taken a bite out of SU (more than the other 2), but imo their time is close to ending. I am thinking they are trying to close their short positions as we speak.