Energy TrendsHappy to see this story in the Globe since I own some shares in all of them. Love the PEY dividend.
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BMO Capital Markets strategist Jeremy McRea lists the major trends for institutional investors buying and domestic energy stocks, “The top names held by [the 37 high energy focused funds we track] continue to be ARC, Tourmaline, Topaz, Whitecap (with Paramount new to the list vs. last year) … The best-performing names in 2Q24 were NVA (+20%), SCR (+13%), POU (+13%), BIR (+13%), and TPZ (+8%) (vs. the equally weighted average of the sector at -1%). If we look at the funds that had the foresight to buy these names before their run (i.e., in the previous quarter), these funds today are now buying Paramount, PrairieSky, and Peyto … names that saw existing shareholders add to their positions should highlight confidence … Names with high buyer/seller ratios include Paramount, Cardinal, and NuVista … We highlight the names that have seen the most ‘new buyers’. Names to highlight include Spartan, Athabasca, and Peyto … where do Crew shareholders rotate into next?”"