RE:RE:RE:How undervalued is CPG still?highalpha1 wrote: @LiquidOctupusV2: Nuttall's chart does NOT account for hedges. He points this out in the footnotes. My numbers come directly from CPG's May corporate presentation, which would account for their hedges.
Another good example would be to look at MEG. Nuttall's chart shows that MEG is trading a huge FCF yield based on today's crude prices. However, MEG has hedged 48% of its entire 2021 production at less than $48. As MEG's Q1 earnings report demonstrated, they had huge losses in Q1 due to hedging.
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5.80 CAD+0.070 (1.22%)today
8.87 CAD+0.15 (1.72%)today