RBC Dominion Securities energy analyst Greg Pardy made a large number of changes to his Global Energy best Ideas list.
He removed Algonquin Power and Utilities Corp., BP PLC, ConocoPhillips Co, Ranger Oil Corp. and Suncor Energy Inc. in favour of Diamondback Energy Inc., Marathon Petroleum Corp., Permian Resources Corp., Repsol, and Superior Plus Corp.
The longer-term performance of the list has been strong,
“In November the RBC Global Energy Best Ideas List was up 1.4% compared to the iShares S&P Global Energy Sector ETF (IXC) up 3.3% and a hybrid benchmark (75% IXC, 25% JXI – iShares Global Utilities ETF) up 4.6%. Since its inception in February 2013, the RBC Global Energy Best Ideas List is up 150.1% compared to the S&P Global Energy Sector ETF up 29.6% "
The exploration and production names on the list, outside of the ones already mentioned, are Tamarack Valley Energy Ltd., Topaz Energy Corp., California Resources Corp., Range Resources Corp., Arc Resources Ltd., Tourmaline Oil Corp., Canadian Natural Resources Ltd., Enerplus Corp and Santos Ltd.