So far this year only 2% increase of the S/P !
But for some who bought more at 4,50$ CDN it's like a 38% increase in about 4 months or less.
More increase is coming with Q3 tonight and Q4...but 2024 may reach stellar s/p
Today's words of Eric Nuttall :
With a few Canadian large cap E&P's now trading above 6X EV/'24CF at $80WTI, we are increasingly focusing on midcaps who offer lower valuations (2.5x-3.5x EV/CF) and much higher free cashflow yields (20%+) portending more meaningful share buybacks in 2024 on a relative basis. 