riski wrote: Take a look at other O&G stocks Ok, let's do that.
1 year returns:
NVA - 663%
BTE - 454%
TVE - 221%
MEG - 181%
CPG - 142%
WCP - 58%
Like I said a year ago on here and again in March when the price got away from fundamentals: This company has too many shares and is overvalued relative to peers. That's not the same as saying it's overvalued compared to historical measures, but overvauled relative to its peers. And it was ridculous. People paying 5 times cash flow for WCP when companies were trading at or below 1x. Why? I don't know other than humans are irrational. But eventually the market gets it right.
This is the reckoning. I enjoyed WCP's run up from April, 2020. It was a 6 bagger for me. But then it just got stupid in March of last year so I bailed and put the money into BTE, NVA, TVE, and MEG.
Junior O&G is not something you can just put your money into and let it ride. You need to be active. Be wary of the darlings. Most importantly, know when to get out and put the capital to use in better opportunities.
People may say "yeah, but I made 58%". If you are happy with 58% when there were 4x and 6x opportunities sitting there in the open for the taking, then you need to re-evaluate your investment acumen.
WCP isn't going anywhere fast. If you want torque, this is not the place to be.
This investor won't be eating crow because you have already eaten the entire bird.
Wildfury wrote:
Good for you, personally I think that you made a big mistake. You sold, you made your point on why you sold so move on. This stock will be over $8.00 before their year end earnings are reported in late February. It's not just WCP that's been under achieving lately, take a look at the rest of the Canadian oil patch stocks. The point is that as long as oil is trading above $65.00 per barrel all these companies are staying disciplined with spending, paying down debt and buying shares back. Good luck to you and would you like some barbecue sauce with that crow?