STOCKCHASE

(Top Pick Sept 28/09, Down 6% total return) He boosted his weighting in the fund. This and SU are two of the best names in the large cap space. This is a name that is very attractive.

2010-08-31

Comment

34.550

Rick Stuchberry

Cenovus (CVE-T) versus Canadian Natural Resources (CNQ-T)? Both are good companies and both oil oriented with conventional and crude. He prefers something with a significant yield so he owns Canadian Oil Sands (COS.UN-T) instead. (See Top Picks.)

2010-08-30

STRONG BUY

34.710

Anywhere from $75-$85 in oil prices, Canadian oil companies are very profitable. They just reported an excellent quarter and beat on production and cash flow.

2010-08-11

BUY

36.130

Suncor (SU-T) or Canadian Natural Resources (CNQ-T)? Owns and likes both. The better one right now on a valuation basis is CNQ and you get a little bit more bang for your buck. More production and cheaper valuation. In a diversified portfolio you can own both of them and be very happy.

2010-08-10

BUY

36.850

Jim Huang

Have evolved from pure natural gas to largely a balanced, especially oil sand player. Very solid management. A long-term, solid, core holding. Buy more on pullbacks but you can buy today.

2010-08-09

BUY

36.590

Bigger, more mature producer, more predictable. Potential to go into the mid-40s. Still buying it right now for new accounts. Prospects of the dividend increasing.

2010-08-05

BUY

36.500

Switched all of ECA last summer. Likes the heavier exposure to oil. Brought on their oil sands project on time and on budget.

2010-07-20

BUY

36.850

Operation on their horizons project is second to none. Gives you longer term exposure to oil sands and near-term, natural gas is a big driver for this company. Well run.

2010-07-13

Comment

36.810

Gavin Graham

If you are a believer that natural gas is likely to go up because of hot summers and cold winters and there will be growth in oil production, this one is likely to do okay. Well managed. Less than 1% dividend.

2010-07-09

PAST TOP PICK

34.010

Greg A. Taylor, CFA, BBA

(A Top Pick July 22/09. Up 16.21%.)

2010-07-05

BUY

34.010

Martin Hubbes, CFA

Really good at execution. Brought Horizon in on time and on budget. Excellent management. If you are a long-term investor and interested in the oil play, this is a good stock to own.

2010-07-05

Comment

36.930

Ara Nalbandian

Probably the best long-term hold in the energy sector. Management has proven over and over again operational strength. Horizon project is fully ramped up now and they are talking about in the next phase having a diverse proof of assets that they can draw on with very high returns. Generating significant free cash flow. Buying back shares and reducing debt. Buy when oil prices are pulling back.

2010-06-23

BUY on WEAKNESS

36.870

Christine Poole

More oil than gas and have been very successful in wrapping up the Horizons oil sands project. Looking for an entry point closer to $35. Likes both near-term and long-term prospects.

2010-06-22

TOP PICK

37.960

Steven Conville

Very strong management and the company is well positioned. Good balance sheet and cash flow.

2010-06-21

Comment

37.560

Stan Wong

Chart shows that this has been moving sideways for quite some time. Not exciting in terms of a catalyst for the stock. Has broken below both the 200 and 50 day moving averages. Yield of 6.94%. With the problems in the Gulf, the spotlight is now on the oil sands. Very neutral on this one.

2010-06-17

BUY

37.270

Good reserves and in a politically stable area. Got sold down dramatically in the past few weeks. Great buy here.

2010-06-14

PAST TOP PICK

37.270

(A Top Pick July 9/09. Up 14%.) Covered Call. Buy at $53.65 and write 01/2010 Calls at $7.25.

2010-06-14

WEAK BUY

35.750

Norman Levine

Warm towards companies with oil sands projects.

2010-06-09

BUY

35.750

Jeff Parent

In the middle of its trading range. In a somewhat positive up trend. This is a wait and see. It is on the radar. They are well regarded in the analyst community. Is going to go up $3 very quickly.

2010-06-09

BUY

37.760

Plan to partner with the Alberta gov’t. It surprises him that Gov’ wants to get into that business. Well-managed company.

2010-06-03

BUY

37.760

Derek Webb, CFA

If you look at any oil stock of 5 or 10 years, you see we have just started a new cycle. You will be fine on this one. Volatility is going to be high. Canada has what the rest of the world needs.

2010-06-03

WEAK BUY

36.680

Douglas Kee

They are coming closer to the end of their big cap x program and are buying back shares. Over the next 5 years they could become a reasonable dividend payer. It’s something to watch.

2010-06-02

BUY

35.150

John Zechner

Valuation is good. Growth is good with the horizon project. Likes the sector and the positioning. At the low end of the trading range. Lower because of the Petro Can integration by Suncor.

2010-06-01

TOP PICK

36.610

If you want an oil weighted portfolio, this would be a core holding. Incredible cash machine and solid growth. Will grow and have production of about 640,000 barrels per day. Should throw off about $3 billion in terms of cash flow over the next couple of years.

2010-05-28

BUY

36.480

Brian Acker, CA

Has a model price of $52.21, a 50% upside.

2010-05-27

BUY

36.480

Michael Smedley

The 2 for 1 split of the stocks makes it easier for smaller investors to buy. A diversified company with a long-term history, not just oil sands.

2010-05-27

WAIT

34.300

Colin Stewart

Good name to own long-term, but he is a bit cautious on oil markets right now.

2010-05-25

BUY

34.690

Jim Huang

(Market Call Minute.) Tons of free cash flow.

2010-05-21

PAST TOP PICK

70.780

(A Top Pick March 26/09. Up 37.24%.)

2010-05-18

PARTIAL BUY

71.370

Bruce Campbell

Doing a 2 for 1 stock split on May 21. Normally a positive move for 2-3 days after the split and then eventually, no impact. Positive in that retailer investors will be up to buy more readily. Good price to dip your toe in.

2010-05-17

BUY

73.980

Talisman (TLM-T) and Canadian Natural Res (CNQ-T), both giant energy companies, are committing enormous resources to natural gas at a time when it seems to be in oversupply and very cheap. Obviously, what these companies see is that although natural gas is cheaper it now, it is the energy of the future.

2010-05-10

Comment

72.000

Mason Granger

Had anticipated the correction of 10%. Spinning off a lot of free cash flow now. Would be comfortable owning at this price provided there wasn't a further pullback in the market.

2010-05-07

WAIT

72.700

Brooke Thackray

Good solid company and oily rather than gassy. Oil is usually a good trade from February 25 until May 9. Expect this one will pull back a little bit more. Look for it to drop to $55. Oil tends to pick up in July, which might be a good time to pick it up.

2010-05-06

Comment

76.950

Nick Majendie

One of the companies that will perform best amongst the producers. Getting their debt paid down.

2010-05-04

Comment

78.230

Don Vialoux

Seasonality would have you buy around the end of February and hold until May. We are now getting close to the end. Technicals are still positive but we are getting close where you want to get out.

2010-04-30

TOP PICK

76.080

Mike S. Newton, CIM FCSI

Expects oil to close out the year at around $85-$86 and probably $90 at the end of 2011. This company is starting to break out technically. Because analysts are using $70-$75 oil, oil stocks have not moved up with a commodity.

2010-04-28

PAST TOP PICK

78.500

(A Top Pick July 9/09. Up 16%.)

2010-04-23

BUY

77.010

Bruce Campbell

Feels oil is $75-$85 but could spike either above or below if something happens. Currently we are in the middle of the range. Their Horizons project keeps trucking in the oil sands and as it comes along, this stock looks cheap on a price to cash flow.

2010-04-19

BUY

77.060

A must own stock. The big driver of this is Horizon, which will generate about $3 billion in free cash flow over the next 3 years.

2010-04-16

TOP PICK

79.200

Probably one of the best managed oil/gas companies in Canada. Sorted out some of the production problems they had late 2010 on their Horizon project. Produced 72,000 barrels a day in January, up to 82,000 in February and looking for 100,000-105,000. Production goal is 110,000. Just raised their dividend.

2010-04-14

PAST TOP PICK

78.690

Steve Carlin

(A Top Pick May 12/09. Up 32.85%.) Still likes. One of his largest oil weightings. Good growth prospects.

2010-04-12

BUY

78.690

John Zechner

Likes its position and its Horizon project. Has heavy oil and natural gas. Multiple is still relatively inexpensive. Balance sheet is in good shape.

2010-04-12

PAST TOP PICK

79.890

(A Top Pick June 30/09. Up 31.22%.) Starting to break out of its range. Still a Hold.

2010-04-05

BUY

78.230

Brian Acker, CA

All oils in Canada look fantastic. There has been a nice pullback as well as a good rotation out of natural materials into banks. His model price is $95.89, a 27.5% upside.

2010-04-01

BUY

73.800

Christine Poole

Oil leveraged and has been very successful in wrapping up their oil sands production on the Horizons project, which should provide future growth for them. 1st phase of 100,000 BOE's with a target of 500,000. Likes the long-term fundamentals. Recent News release indicating a stock split. 0.8% yield, which they have room to increase.

2010-03-30

DON'T BUY

71.890

Philip Doyle

Gas focused so has languished a little. Probably has good value if gas recovers but he is concerned given the advent of shale gas and gas prices could stay low for a long time. His approach would be to buy the energy sector through an ETF.

2010-03-26

BUY

72.330

Growing production quickly and generating significant free cash flow. Just increase the dividend 45% and will be doing a stock split.

2010-03-24

TOP PICK

72.660

Had some production issues at the new Horizon project but seem to have those sorted out. Production has been up in January and February and targeting 110 thousand barrels a day out of Horizon alone. Will be generating huge amounts of cash flow and sees cash flow growing to $13-$14 a share next year. Just announced a dividend increase and he sees more of those coming. 1/3 gas and 2/3 oil.

2010-03-23

TOP PICK

73.990

Produces a wall of cash. Oil sands as well as conventional oil and gas. Very profitable last quarter. Very well managed. Will go from 100,000 bpd up to 500,000 from oil sands with virtually unlimited resource life. 2/3 rds oil / 1/3 rd gas, which he likes. Just raised the dividend 45%. They are going to split their stock and do stock buy-back.

2010-03-16

Comment

73.220

Steven Conville

Good company, good management. For the long-term, 2 years-5 years you will definitely make money. Energy always tends to be tied to a strengthening economy. Short term, it could get a little worse.

2010-03-15

BUY

74.730

Will be throwing off huge cash flows $20-$25 in 2-3 years from their Horizon project and the company will be debt free. The cash could be used for dividend increases but likely for acquisitions and share buybacks. (See Top Picks.)

2010-03-12

Comment

70.880

Michael Decter

(Market Call Minute.) Good company. Prefers Crescent Point CPG-T).

2010-03-08

BUY

70.880

One of the strongest names and can easily be $85. A stock split would be positive for the name. Would suggest picking it up on weakness. Tremendous torque to heavy oil and the horizon project. It has been a tremendous cash generator.

2010-03-05

BUY

70.880

Conventional heavy oil, natural gas and oil sands. Within this or next year, we will hear more about their shale gas. Hold it forever. Well-financed, low cost producer.

2010-03-03

BUY

72.020

None of the Canadian oil companies moved higher recently. Likes this name. Not getting credit for its Horizons oil sands. Cheaper than others.

2010-02-22

BUY

72.160

Could be debt free in 3 or 4 years. Could have share buy backs or dividends or all of the above. Sold it because he wanted a pure oil play.

2010-02-17

PAST TOP PICK

69.100

(A Top Pick March 26/09. Up 30.51%.) Still a Buy.

2010-02-10

BUY

69.100

Probably his favourite oil/gas holding. Likes their diversity with their oil sands play as well as natural gas. One of the best managed companies in Canada.

2010-02-10

PAST TOP PICK

69.030

(A Top Pick June 30/09. Up 15.05%.) Still a buy.

2010-02-08

BUY

69.030

Not looking for as big a year as it had last year. Expect oil will go back over $80 a barrel. Will be a steady performer. We'll be happy to get it up to $80 range.

2010-02-08

PAST TOP PICK

70.710

(Top Pick Feb 10/09, Up 58%) Throws off a huge amount of cash. Core heavy oil business, oil sands and natural gas. They have tones of shale they aren’t telling anyone about. It’s a good management team.

2010-02-02

HOLD

74.970

Douglas Kee

A little expensive versus some of the others but a great company with great management. Good mix of oil sands and gas.

2010-01-08

PAST TOP PICK

72.950

(A Top Pick Feb 10/09. Up 63.37%.)

2009-12-21

TOP PICK

68.770

Steam assisted gravity drainage potential could substantially increase their production. 40 to 50 year reserve life with no declines.

2009-12-11

Comment

68.580

Rick Stuchberry

A lot of companies trade off the commodity and oil prices have dropped closer to $70, which is why the stock has dropped. Not a lot of sector rotation right now but when it happens this is the one that institutions will go for.

2009-12-10

BUY

66.910

Norman Levine

Price of oil in short term is very different from price in the long term. Demand is soft. Good opportunity to buy CNQ. Could fall to $62 (200 day moving average).

2009-12-08

STRONG BUY

70.470

John Zechner

The Horizon project is now on and this is one of the better oil sands projects. Also have other production growth. Valuation is cheap. A major player on the global scale.

2009-11-30

BUY

70.990

Gavin Graham

Likes this company and the entire sector even if oil doesn't go up a great deal from here. This one is 2/3 oil and 1/3 natural gas.

2009-11-23

STRONG BUY

71.090

(Market Call Minute.) Tremendous cash flow going forward. At $80, oil is pretty well fully priced but if it goes up this will follow.

2009-11-19

TOP PICK

71.980

(A Top Pick Oct 21/08 Up 31.2%.) Horizon, their oil sands project, is still ramping up. Didn't meet expectations in Q3 but this is one you have to keep with a long-term horizon. Estimating they will generate $3 billion in free cash flow in 2010 with oil at $80 US. One of the best growth stories out there for a senior producer.

2009-11-18

PAST TOP PICK

71.980

(A Top Pick June 30/09. Up 17.3%.) This one should be a core holding in any portfolio. Exceedingly well run. Oil weighted and visible production growth from their Horizon oil Sands and Primrose thermal projects. Buy on weakness.

2009-11-18

PAST TOP PICK

70.820

(Top Pick Nov 24/08, up 58%) Still likes it. Great company.

2009-11-10

TOP PICK

72.090

One of the few that can increase oil production by about 10% in 2010 and 12%-13% in 2011 while US comparables are struggling to get 3%-4%. $6.9 billion cash flow, mainly because of Horizon.

2009-11-09

BUY

67.710

Ron Meisels

A bit of correction but it has still not come back to the 200-day moving average. On a long-term basis, this is an exciting stock. Had a big base in the Dec-March period, which can support higher targets. Hold long as it is above its 200-day moving average. Seems to be in a trading range and the bottom is near $66.

2009-11-05

PAST TOP PICK

74.430

(Top Pick Dec 24/08, Up 89%) Buy CNQ-T, Sell CNQ Aug. Calls, Sell CNQ Aug. Puts.

2009-10-23

BUY

78.230

David Burrows

This is a company they quite like. Disciplined management. Volumes over the next quarter probably grow 25%. Negative is that they are in gas.

2009-10-19

PAST TOP PICK

69.810

(Past Top Pick Oct 16/08. Up 46%.) Sold his holdings and put it into Crescent Point (CPG-T). The run is probably not over but cash flow estimates are coming down. Used to be $21-$22 but are now down around $12. Would buy at $65. (See Top Picks.)

2009-10-01

PAST TOP PICK

72.300

(A Top Pick June 30/09. Up 18.3%.) Have executed very well on their Horizon play with more than 100,000 barrels a day. Starting to be re-rated as an oil sands stock. In the short term, it is close to reaching its top. High beta at 1.4.

2009-09-30

TOP PICK

73.440

(A Top Pick Sept 22/08. Down 13%.) Likes its torque to the Horizon oil sands project. Has completed phase 1 and has done really well. Coming in on time, on budget and with production upside. Will have a lot of growth.

2009-09-28

BUY on WEAKNESS

71.840

Mason Granger

For a company of its size, it is fairly unique in that it has very visible production growth of probably 180,000 barrels going forward. Besides being the largest oil producer they are the second largest producer of natural gas. Would buy below $70.

2009-09-24

WAIT

76.640

Jennifer Stevenson

Just went up 26%. They can decide to stop drilling for Gas and start drilling for oil. Buy 20% of what you want and wait 6 weeks on the rest. It will come off 10% in a month.

2009-09-22

BUY

72.220

Glenn MacNeill, P.Eng.

Has heavy oil production with its Horizon project. Had good results over the 2nd quarter. They watch their costs very closely, which is very important. About 1/3 production is natural gas and they will be among the low-cost producers.

2009-09-18

PAST TOP PICK

67.870

(A Top Pick Sept 4/08. Down 15%.) This would now be his 3rd pick after Encana (ECA-T) and Crescent Point (CPG-T). (See Top Picks.)

2009-09-10

BUY

65.700

Shauna Sexsmith

Has everything from oil sands to Canadian Western conventional to N. Sea to offshore West Africa. Great production and cash flow growth. Cheap.

2009-09-08

PAST TOP PICK

64.790

Gavin Graham

(A Top Pick Sept 17/08. Down 13.93%.) Pays a low dividend but it is growing steadily. Still likes.

2009-08-25

BUY on WEAKNESS

65.000

Joseph Schachter

Fabulous company. Horizon is now on and is ramping up. Using the cash flow to pay down debt. Would be a fabulous by $55-$60.

2009-08-21

TOP PICK

65.000

Has been one of the best performing oil/gas stocks but he thinks it will go higher because it is increasingly focusing on heavy oil and oil sands. Had originally been slated to do 100,000 barrels a day but has been doing intermittently 120,000. One of the benchmark names that you want to own.

2009-08-21

BUY

63.440

Andrew McCreath

Street-smart management. Goliath of a project that is delivering. Oil will be same place a year from now. Gas will be $1 higher. Over the longer term will be a big winner.

2009-08-18

PAST TOP PICK

64.220

(A Top Pick June 30/09. Up 3.51%.) Very connected to oil prices and heavy oil differentials and this is one of the best beneficiaries of that. Operationally, the Horizon oil sands project is adding 100,000 barrels a day this year.

2009-08-14

BUY

62.220

Mike S. Newton, CIM FCSI

One of the cleanest, best run companies in Canada. Thinks that the Suncor (SU-T) and PetroCan (PCA-T) merger will take some time to work through. A little on the expensive side but you can sit back and what should grow over time.

2009-08-11

PAST TOP PICK

68.000

(A Top Pick Aug 5/08. Down 9.28%.) Sold it last fall when the markets were in the tank. On his potential Buy list.

2009-08-05

BUY

64.760

Low cost producer in natural gas and heavy oil. Oil sands project is coming in on time, a little off budget. He is hoping the operating costs are somewhere in the high $20's.

2009-07-31

HOLD

63.490

Michael Sprung

This is one of the benchmarks in the energy industry. Selling at a reasonable price at around 6X forecasted cash flows. Also have large tax pools. Well capitalized and good prospects going forward.

2009-07-28

PAST TOP PICK

63.930

(A Top Pick Sept 22/08. Down 24.73%.) One of the top names in the patch. Horizon project is now up and producing. International investors go to this name. Buy.

2009-07-24

PAST TOP PICK

63.680

Dean Orrico

(A Top Pick Nov 13/08. Up 24.58%.) Successful in bringing their Horizon project online. A lot of gas exposure has been holding it back. Still a Buy.

2009-07-23

PAST TOP PICK

63.680

(A Top Pick Aug 5/08. Down 12.3%.)

2009-07-23

TOP PICK

60.570

Greg A. Taylor, CFA, BBA

Earnings come out in early August but would Buy some today and some afterwards. Did a good job at hedging some of their oil at higher prices. Their big growth vehicle is the Horizons project that is probably becoming one of the gold standards in the oil sands.

2009-07-22

Comment

63.010

Veronika Hirsch

Very high quality name. Fantastic assets and management. If you are a trader, try to buy in the $50's and take profits in the $70's.

2009-07-17

PAST TOP PICK

61.560

(A Top Pick Oct 21/08. Up 8.89%.) Premier Canadian oil/gas company. Their oil sands project Horizon is firing up and building towards 110,000 barrels by the end of 2010. Would add to this during the summer doldrums.

2009-07-16

TOP PICK

54.950