Suncor Has Held Up Quite Well
Perhaps CPG investors got a little too comfortable in the "good old days" 12 to 18 months ago when oil was at $100, then thought that CPG was a "steal " at $28.00, $25.00, $20.00, etc. because of that growing yield, paying little attention to the large increase in the number of shares outstanding entitled to the same dividend and CPG's claim that they were determined to "protect" the dividend with cuts to CapX. People may say hindsight is 20/20, but Suncor, the largest integrated O&G company in Canada paying a decent dividend and likely making big margins on their refining operations over the past number of months, has actually held up pretty well over the past number of months ($33.76 last time I checked, 52WL - 52WH: $30.89 - $44.72). They even INCREASED their dividend last month. Warren Buffett picked Suncor as his Canadian O&G stock - that's s a pretty good endorsement right there.