TSX:MEG - Post Discussion
Post by
retiredcf on Nov 19, 2024 8:29am
BMO
BMO analyst Jeremy McCrea detailed the energy stocks being bought by institutional investors,
“What ‘energy-weighted’ specialty funds are buying/selling. Typically, these funds are early movers and closer to company management including field[1]level operations (of the 37 high-energy focused funds we track). The top names held by these energy funds continue to be ARC, Tourmaline, and Topaz (with NuVista and Peyto new to the list vs. previous quarters) … The best-performing names in 3Q24 were CR (+67%), TPZ (+8%), PSK (+6%), PEY (+6%), and TVE (+5%) (vs. the equally weighted average of the sector at -7%). If we look at the funds that had the foresight to buy these names before their run (i.e., in the 2Q24), these funds today are now buying PrairieSky, Topaz, and MEG … Names with high buyer/seller ratios include Tamarack, Topaz, and Cardinal … We highlight the names that have seen the most ‘new buyers.’ Names to highlight include Spartan, Obsidian, and Veren”
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