RE:Downgrade GoNat, the only thing I can think of is their take on the 4 year plan may not coincide with what they think is best, or suits their timeline. Other than that, I feel like any downgrades right now are really based soley on the NG price environment at present. Give it a few months, a heat wave or two, and when thoughts turn to heating Europe this winter, NG will torque upwards, the narrative will change, upgrades will come, and all will be right with the Energy space again (till they disrupt it again).
We have a good percentage hedged at decent pricing, we can roll into Liquids growth, as they've stated they intend to do (the next few Quarters will be decent), and let us all not forget, with every passing month, the Montney players gain just a bit more strength with their land packages as LNG Canada gets closer to completion, not least of which will be Crew with their massive strategically situated placement.
I pretty much don't listen to the banks with their upgrades and downgrades any more, I've watched closely now for a few years and I feel like they are only serving their own agenda, so, whatever they say, I pretty much expect the opposite soon enough unravels.
JMHO but we shall see. I see major headlines this fall saying "Europe in energy Crisis like never before" and NG climbing way way up there again and only settling part way down.
Lots of volume, are funds and institutional buyers slowing and silently building up massive positions in energy stocks as we all are getting "hoodwinked" into believing it's really that unstable? I believe it sure is possible.
PonyBoy Outsider