MEG Energy Corp T.MEG

MEG on BNN

[jleer42]

I haven't heard of Cole Smead before, but he recommended and had good things to say about MEG. He likes the lower debt and share buybacks. He commented on the advantage of the the large tax pools due to prior year losses. He also alluded to the fact that a Cenovus or Suncor could look at buying Meg.

Nothing really new, but nice to hear more people talking about Meg. 

 

https://www.bnnbloomberg.ca/video/three-energy-stocks-to-play-oil-s-winning-streak-cole-smead~2607969

[Paray99]

MEG is very good and will appreciate reasonably for sure. No doubt about that. But, Cole actually meant CVE and SU as probably better options at the moment, compared to MEG. 

[jleer42]

It was hard to hear as he cut in an out a bit, but I belive he said that a larger company a Cenovus, Imperial Oil, or Suncor could be a buyer of the stock as they can realize the credit much quicker than Meg can. To me, this means if CVE or SU bought Meg they can more quickly use Meg's tax credits than Meg can. End of the day he had good things to say about Meg, so a postive overall.

[Paray99]

Totally agree with that. MEG has the potential to double from here once oil stay above $100. And, that is going to happen.  But scammers are here too.... Look at the 4100 shares at ask price $19 and 3100 shares at bid price $19 at 9:00am today. Some idiots not watching the market will try to sell higher than this, that is at $19.10, ignoring yesterdays close at $19.35 and todays potential

[Lotus33]

Smead has been interviewed on Bloomberg markets multiple x's go look at his site www.smeadcap.com  L-33