| PAST TOP PICK | 94.200 | Glenn MacNeill, P.Eng. | (A Top Pick May 9/07. Up 50%.) Splitting of the company will give investors a clearer picture of what they are buying. Sum of the parts will be worth more than the whole. Pretty expensive now and would Buy on weakness. Would prefer the Gasco versus the Oilco. | 2008-05-16 | |
| BUY on WEAKNESS | 90.850 | Jennifer Stevenson | Big pop up on the announcement of splitting into oil and gas companies. Getting close to being fully valued. When it splits, which isn’t for quite some time, the gas company will fly but the oil sands will depend on the markets view at that time. There will be a better entry point in the next month or two. | 2008-05-13 | |
| BUY | 92.200 | Norman Levine | Stock went up on the announcement that they will be splitting into natural gas and integrated oil sands producer. The sum is worth more than the parts. Also into refining, which has not been good lately but it will be in the future. Before buying, you might wait to see if it pulled back a bit. | 2008-05-12 | |
| TOP PICK | 92.200 | Michael Smedley | He thinks that splitting the natural gas from the oil sands will surface the greater value. However, as 2 separate companies they will be more vulnerable to take out. | 2008-05-12 | |
| HOLD | 86.520 | Bruce Campbell | Great company. He would like to add on weakness and you may get that chance in the summer being that it is gassy. | 2008-05-09 | |
| TOP PICK | 84.570 | Paul Thornton | Canada's biggest natural gas producer. Natural gas price has doubled and the stock is in an uptrend. Thinks earnings growth is going to surprise people. | 2008-05-07 | |
| TOP PICK | 84.240 | David Burrows | He really likes gas. Well diversified portfolio. 8 different properties producing over 140 TCF of gas. Very strong growth. Biggest player in the Montne. Analysts are undershooting gas prices. Have been buying back stock. | 2008-05-06 | |
| BUY | 83.470 | Jennifer Stevenson | The quarter to some people was a bit of a miss. This company gives you heavy oil exposure and a joint venture with refining in the US but this is the largest gas producer in North America. Have some hedges that are reasonably out of the money for about 40% of their production, but even considering that this is a bellwether gas stock. | 2008-04-25 | |
| PAST TOP PICK | 81.260 | David Cockfield | (A Top Pick Mar 3/07. Up 53%.) Has had a heck of a run and he has been taking some profits. PE multiples have got a little high. Great company and well managed. | 2008-04-24 | |
| BUY on WEAKNESS | 84.440 | Laura Wallace | This has come off a bit but it could come off a bit more. | 2008-04-23 | |
| BUY | 86.080 | David Baskin | (Market Call Minute.) Solid cash flow is very strong. | 2008-04-22 | |
| TOP PICK | 86.080 | Alex Ruus | Natural gas is trading at a huge discount to oil on an oil equivalent basis. It could still pull back this summer but he sees natural gas having a big rally over the next several years. They have been prudently hedging some of their production. | 2008-04-22 | |
| BUY | 84.750 | Gordon Higgins, CA, MBA, CFA | Trading around 6X cash flow and should be trading higher. It is the most levered to gas. Had flat production in 06 versus 07 but there is up production going into 08. | 2008-04-17 | |
| TOP PICK | 80.150 | Paul Thornton | Natural gas has broken out of its own bear market. This is Canada's largest natural gas producer. The whole area looks very strong and could be making a nice long-term uptrend here. | 2008-04-11 | |
| WEAK BUY | 78.050 | Robert McWhirter | (Market Call Minute.) If you are interested in large caps and you think natural gas will continue to move up it’s a Buy but feels there are better opportunities in smaller companies. | 2008-04-08 | |
| WEAK BUY | 76.360 | Lyle Stein | It’s a liquid name. Have a positive outlook in the gas sector, therefore optimistic on this stock. | 2008-03-28 | |
| BUY | 76.880 | Ken McCord | Likes it a lot. Looking at energy with a lot of concern. ECA is one of his long names. He likes call options so doesn't mind if it doesn't go up.
| 2008-03-26 | |
| TOP PICK | 78.500 | Ron Meisels | It’s broken into new all time high territory. There is a lot of interest in this stock and buyers. Stop loses should be around $75 | 2008-03-14 | |
| TOP PICK | 75.660 | Laura Wallace | Finally being recognized for the very long-life reserves it has in unconventional gas production. Has strengthened its determination to return value to the shareholders, which can be seen in its dividend policies and share buyback policy. Has hedged part of its production in gas assets at over $8 a share as well as $72 a barrel for its oil. Quality management and reserves. | 2008-03-12 | |
| TOP PICK | 76.500 | Kenneth P. Norquay, CMT | Was in a roaring bull market, went sideways for quite a long time and has now just broken out to new highs. He can see no resistance from here and would put a stoploss at about $58, with the right to raise it. | 2008-03-11 | |
| Comment | 75.710 | Norman Levine | Likes the gas stocks better than oil. Gas is going up on real fundamentals, while oil has a lot of speculative fever. This is the highest quality company in gas. | 2008-03-10 | |
| TOP PICK | 76.260 | Glenn MacNeill, P.Eng. | Mainly gas driven. About 53% of its revenue is Canadian natural gas with a lot of that in the very exciting Montne gas play in NW Alberta. About 32% gas from the US, mainly Wyoming. Relatively small oil holdings. (Would treat the Top Picks as a Watch rather than a Buy.) | 2008-03-07 | |
| Comment | 76.260 | Joseph Schachter | Largest natural gas player in North America. The class act in the natural gas business. Feels natural gas prices will be averaging $9 in the next few years with spiking prices to $12 or more. Can see a takeover potential, as a lot of major international companies are not growing. | 2008-03-07 | |
| BUY | 76.450 | John Zechner | The natural gas market looks awfully good. These guys have had a great rate of drilling property. Growth has been very good. Diversified. 2% dividend yield. | 2008-03-06 | |
| TOP PICK | 75.060 | David Burrows | Natural gas prices have firmed up and have come out of a 2 year consolidation. There was a lot of LNG coming into North America last year, but pricing for gas in Asia and Europe is now higher than in North America so LNG is going there. Has some interesting growth plays, one particularly in B.C. | 2008-03-03 | |
| Comment | 76.220 | Peter Brieger | If he were looking to buy something today in energy it would be this company. | 2008-02-28 | |
| SELL | 73.700 | Brian Acker, CA | His model price is $72.13 so the stock is now above his model price by about 4%. | 2008-02-27 | |
| HOLD | 73.700 | Colin Stewart | Largest and leading player in the natural gas space. Natural gas appears to be under priced and some of the fundamentals suggest prices should go higher. | 2008-02-27 | |
| Comment | 73.850 | Sandy McIntyre | Great diversification. Be cautious about buying natural gas stocks in February as it is coming into the shoulder season. | 2008-02-26 | |
| TOP PICK | 71.000 | Michael Smedley | There is awakening in gas stocks. Gas prices are starting to move and service companies are starting to move. This one is the great North American gas company. | 2008-02-21 | |
| TOP PICK | 70.320 | David Burrows | Likes natural gas story for the first time in quite a while. If you are going to be in gas, this is the one. They have a couple of big growth plays under way. Core story is that the gas sector is looking much better in North America. Prices are breaking out with higher highs. Caution: Seasonally, spring is not the ideal time to buy gas stocks. For a stoploss, he would not like to see this trade at less than $65 US. | 2008-02-15 | |
| TOP PICK | 70.320 | Laura Wallace | Dividend has quadrupled since 2006. When you buy stocks you don't just want a high dividend yield but you want growth in the dividend. A signal that the company is very confident about cash flow/earnings over the next 3 to 5 years. Earnings were a little disappointing this quarter. Missed on production but have done a great job on reserve replacement. Natural gas will continue to be a good commodity for them. Good long-term investment. | 2008-02-15 | |
| Comment | 67.250 | John Stephenson | Not that positive on natural gas. Coming into a shoulder season where gas prices typically fall off. Likes this one, not for the traditional gas play, but because they have non-traditional reserves, have booked tight gas reservoirs, etc., amassed huge land positions, divested of marginal properties, buying back stock, getting into the oil sands and a very forward-looking deal with ConocoPhillips (COP-N). | 2008-02-08 | |
| DON'T BUY | 66.440 | Brian Acker, CA | His model price is $66.94, which is only a 2% positive differential. | 2008-02-07 | |
| BUY | 65.610 | Laura Wallace | The premier North American natural gas play. Very well managed. Well diversified geographically. Thinks natural gas will be a better commodity in the latter half of 08 and into 09. Have a pretty extensive hedge program that they have done well with. | 2008-01-30 | |
| Comment | 63.720 | Gordon Higgins, CA, MBA, CFA | 80% natural gas, so it's a matter of where natural gas prices go. Very strong management. Fully priced, but if you believe in natural gas, you can believe in this one. | 2008-01-25 | |
| BUY | 63.500 | Bill Harris | Fantastic business. Been trading more off oil prices than off its gas business. Can easily pull back. A lot stronger than the rest of the energy group. Does a lot of hedging so it shouldn't swing around wildly with prices. The key is, if it does come off a few dollars, it hits the support line. The other key is if natural gas prices improve. Have the potential to become one of the main refiners in North America in the next 10 years. | 2008-01-17 | |
| TOP PICK | 66.590 | Glenn MacNeill, P.Eng. | Gas play and a great safe place to put capital. When the gas market does move, the big companies are going to move first. | 2008-01-15 | |
| Comment | 69.250 | Gavin Graham | Up 27% over the last year, which is remarkable given their strong weighting in natural gas. Exploration-production company and is now an integrated producer because of their deal with ConocoPhillips (COP-N). If you think gas is going to be stronger this would be an interesting stock. | 2008-01-02 | |
| BUY on WEAKNESS | 67.500 | Bruce Campbell | Held up better than he would have thought given the short-term outlook for gas. Entry point should be lower than the current price. Try to get it in the lower $60's. | 2007-12-31 | |
| BUY | 67.890 | Peter Brieger | Looking out 3 to 4 years this is a great stock. Feels natural gas prices will recover. | 2007-12-28 | |
| Comment | 67.570 | David Cockfield | Is finally giving some positive returns. Has always been positive on this company. Fairly gassy. Drilling in the US with some good results. Reasonably priced. Anything over $68 and he might do some profit taking. | 2007-12-21 | |
| Comment | 67.430 | Joseph Schachter | The problem is that it is gas. Have a very big platform in the US, so will receive the higher natural gas prices quicker. This will potentially be the crown jewel of the natural gas business in North America. | 2007-12-19 | |
| HOLD | 66.620 | Robert Floyd | Well-run company. Reporting later today which should give a sense of where they are going. Drilling in Alberta will be somewhat slow, but overall they have great growth prospects. Well-run company. | 2007-12-11 | |
| BUY | 65.050 | Norman Levine | (Market Call Minute.) Very gassy, but a lot of US assets, which is better right now than Canadian assets. | 2007-12-03 | |
| HOLD | 67.100 | Bruce Campbell | He is worried about gas prices, going into the winter. We need a whole bunch of week’s cold weather to have gas prices move. He is surprised the stock is back at $67. Would like to buy it at $60. | 2007-11-22 | |
| TOP PICK | 66.450 | John Stephenson | Has done a great job of transitioning itself to a true integrated player with its ConocoPhillips (COP-N) joint venture in the oil sands. Its typical gas production is in tight gas reservoirs were initial decline rates are very steep and then level off. They are now on the level part of the curve where production costs will be far less. | 2007-11-12 | |
| WEAK BUY | 64.250 | Steve Carlin | Quite cautious right now on natural gas. Very good numbers on report today. They wisely hedged quite a lot of production for next year. | 2007-10-25 | |
| DON'T BUY | 63.390 | Bruce Campbell | Sold the stock at $66 in July or August. He was worried about the outlook of Canadian natural gas going into the winter. Storage was high and the weather experts predict another mild winter. Management is good. He may buy it back at $60. Need a colder than average winter for it to go. | 2007-10-24 | |
| BUY | 63.390 | Brendan Caldwell | A core hold in their energy sector. The natural gas is so out of favor, and oil is so high. It is a good investment. | 2007-10-24 | |
| DON'T BUY | 63.290 | Kenneth P. Norquay, CMT | Although the rest of the market kept going up, this one did not. As a technician and portfolio manager, he wants to own stocks that are going up better than the market. | 2007-10-12 | |
| PAST TOP PICK | 61.510 | Ross Healey | (A Top Pick Dec 4/06. Up 17.5%.) Alberta will probably not increase taxes on natural gas. It is Fair Market Value is more than double the current price. | 2007-10-05 | |
| Comment | 61.050 | John Stephenson | Probably the premier gas weighted name. Has been morphing into a bit of an oil sands play. Thinking very far ahead of the curve by divesting itself of sub par assets. | 2007-09-26 | |
| BUY | 62.160 | Brendan Kyne | Likes this one. Heading into winter and natural gas prices are probably going to go up. | 2007-09-24 | |
| BUY | 62.390 | Michael Smedley | This should be at the serious end of your portfolio. He is biding his time on natural gas, but we'll be taking a hard look at this one. | 2007-09-10 | |
| BUY | 62.200 | Bill Carrigan | Has been beaten but is right back in the trend again. Almost unchanged today in a down market. Looks like it is at the bottom of a growth channel, which would be the time to buy. | 2007-09-05 | |
| BUY | 62.250 | Alex Ruus | One of the better run oil/gas companies in the world. I've made some very astute acquisitions in deep gas assets. Will add a lot of value in the long term. | 2007-09-04 | |
| BUY on WEAKNESS | 62.330 | Nick Majendie | The difficulty with natural gas price is it is partially weather driven and US drilling has not slowed down as expected. Likes the stock on weakness. Try to buy 10%-15% below its current price. | 2007-08-29 | |
| WATCH | 61.080 | Peter Brieger | Being bedevilled by what is happening in Canadian natural gas prices but it has a presence in the US also. On a 3-year time horizon, this will be a great company going forward. Not expensive. Wait to see some firming in Canadian natural gas prices. | 2007-08-28 | |
| WAIT | 61.160 | Don Vialoux | The trend is up. There was a correction back to the previous high. There is good support right around the current levels. Seasonally strong from November to May. | 2007-08-27 | |
| DON'T BUY | 61.410 | Stephen Carlin | Natural gas prices are holding it back but they have a very high proportion of their production hedged at attractive prices. Cash flow will be strong. They’re so big it is hard for them to grow. Estimates production growth of 3% year over year for this year and next. | 2007-08-21 | |
| BUY | 63.730 | Gavin Graham | Had been at very gassy play has become an integrated oil/gas company with their deal with ConocoPhillips (COP-N) for the use of their refineries. | 2007-08-08 | |
| BUY | 64.450 | Bill Carrigan | The premier energy stock, particularly in natural gas. The last sell off was a sort of an ABC correction and did not violate the overall trend. This is at the bottom of its channel and is a good time to buy. | 2007-07-30 | |
| Comment | 64.220 | Brian Acker, CA | He has a model price of $70 giving it a 9% positive differential. | 2007-07-27 | |
| BUY on WEAKNESS | 66.750 | Joseph Schachter | Good management. Largest natural gas producer in Canada and have a big presence in the US. Could be a takeover candidate. Expect at correction this fall. | 2007-07-20 | |
| WEAK BUY | 65.520 | Peter Brieger | Current malaise, relates to the sudden bearishness of natural gas in Canada.
If you are a 2 to 3 year holder, hold it, if you are buying buy at below 60. | 2007-06-29 | |
| TOP PICK | 70.050 | David Burrows | This group broke out in April/May, which is not the time oil and gas stocks are supposed to do well. Their gas assets are performing well. Their conventional oil sands exposure is really attractive. Expect that a lot of mature assets it spun into these master limited partnerships in the US. | 2007-06-22 | |
| Comment | 70.860 | Brian Acker, CA | This is his #1 position in his Canada Focus Fund. Getting close to his model price of $72.80. A 5.5% differential. | 2007-06-21 | |
| Comment | 70.210 | Michael Sprung | The market has really picked up on carbon. One of the major gas producers in North America with excellent properties in the North West. | 2007-06-15 | |
| BUY on WEAKNESS | 67.060 | Ron Meisels | Oil stock, is starting a new upleg. Will come back to around 62, because it's a bit ahead of itself, but should do well. | 2007-06-13 | |
| Comment | 66.200 | Brian Acker, CA | 6.5% positive differential Getting close to sell time. | 2007-06-07 | |
| PARTIAL BUY | 68.320 | Bruce Campbell | Is a bit extended, so buy on dips. Hope for hurricanes so prices spike. | 2007-06-05 | |
| DON'T BUY | 67.620 | Joseph Schachter | Market is getting close to the point where there is going to be a correction sometime between now and the fall.
He'd rather be in the cheap, beaten up, natural gas stories that haven't moved then here. | 2007-06-04 | |
| PAST TOP PICK | 66.090 | Ross Healey | Then 54.07
Tons and tons up side. There are takeovers everywhere, and he's wondering if "lightening is going to strike there too!" | 2007-06-01 | |
| BUY | 65.460 | Michael Sprung | There could be volatility, but you could hold this for a long period of time if you want a long-term investment. | 2007-05-28 | |
| HOLD | 65.930 | Michael Smedley | Thinks it has had a rather decent run. Doesn't expect it to go too much higher. | 2007-05-25 | |
| BUY on WEAKNESS | 66.510 | Laura Wallace | One of her favourite oil stocks. A great long-term play. The market is up so dramatically, would wait for it to settle before buying. | 2007-05-23 | |
| BUY | 66.510 | Jeff Parent | Natural gas is a real tough one. Had a big peak in 2005, dropped and the price has been consolidating around $6-$8. Volatility is really dropping. It looks like we're getting to a point where there is going to be a major break out. If you want natural gas, you have to own this one. | 2007-05-23 | |
| TOP PICK | 66.750 | David Burrows | Corrections come in time or price. The oil stocks had a correction in time. | 2007-05-16 | |
| BUY | 65.550 | Jennifer Stevenson | Almost a pure gas play. Could be some spin out of some of their assets, which makes it an interesting play. | 2007-05-15 | |
| TOP PICK | 62.380 | Glenn MacNeill, P.Eng. | Largest independent oil company globally. Mainly known for its gas production. Will benefit with stronger gas prices in the fall. Recently did a joint venture with ConocoPhilips (Cop-N) giving them refinery capacity. Their US assets are undervalued. | 2007-05-09 | |
| WAIT | 62.930 | Hap (Robert) Sneddon FCSI | He feels the more pure gas plays look better than the oils. Looks like it is trying to break through some resistance. Wait for a little more confirmation, a Friday's close. 1.4% yield. | 2007-05-08 | |
| BUY | 62.930 | David Baskin | Drilling for natural gas in Canada is very low compared to recent years. Gas taken out of inventory over the winter was much greater than a year ago. If there is a hot summer, natural gas prices should strengthen in the fall. | 2007-05-08 | |
| BUY | 59.670 | Peter Brieger | Likes it, and it's cheap. | 2007-05-02 | |
| BUY | 58.800 | Norman Levine | Very attractive. Mostly a gas play, but has moved into the refining area in the US. | 2007-05-01 | |
| BUY | 58.100 | John Stephenson | Had a little bit of a run, but there is more upside. Ahead of the curve in terms of gas. Did all the right things before it was time. A solid name to hold onto. | 2007-04-30 | |
| BUY on WEAKNESS | 60.100 | Joseph Schachter | Management has done a great job. Will move with the price of natural gas. Buy in the low to mid-$50's. | 2007-04-24 | |
| TOP PICK | 60.040 | Gavin Graham | Largest exploration/production company. About 85% gas. With drilling having been cut back, there could be a shortage of natural gas. | 2007-04-23 | |
| PAST TOP PICK | 60.040 | Paul Harris, CFA | (A Top Pick Apr 18/06. Down 3%.) Sold his holdings in order to move into some very cheap small-cap stocks such as Gentry (GNY-T) and Promax (PMY-T) | 2007-04-23 | |
| BUY on WEAKNESS | 61.680 | Veronika Hirsch | Gas has been one of favour and has made a rebound. Gas storage is now lower than last year. This is the blue-chip play on gas stocks. | 2007-04-18 | |
| BUY on WEAKNESS | 61.680 | Peter Brieger | Futures for oil/gas into 08 shows prices are very much higher. This one has had a good run, so would look for a pullback before buying. | 2007-04-18 | |
| BUY | 60.750 | Chyanne Fickes | Stock has gone up because there's a lot more interest in natural gas. Gas looks very interesting here right now. | 2007-04-17 | |
| BUY | 60.000 | Peter Brieger | If you are conservative with a 3-year time horizon this is a great gas play. 5.4 X cash flow. | 2007-04-04 | |
| BUY | 59.360 | John Zechner | Has moved higher which is probably due to what is going on in the Gulf. Expect gas prices will spike higher if we have a normal winter. There is no better big longer-term play. | 2007-04-02 | |
| HOLD | 59.350 | Ian Nakamoto | The largest oil on the TSX. Likes it, but it's not his favourite. Prefers CNQ (CNQ-T) or Talisman (TLM-T). The oil sector is under appreciated here. | 2007-03-29 | |
| BUY | 59.060 | Brendan Kyne | Likes the natural gas stocks. 2006 was a disaster for the commodity. Inventories are below last year's levels. Curtailment in drilling will create a supply contraction in the 3rd and 4th quarters. | 2007-03-28 | |
| BUY | 58.860 | John Stephenson | This is the name you want to have in your portfolio if you are an oil/gas investor. Doing absolutely everything right. Although he is not overly enthusiastic about natural gas, this is a great name. | 2007-03-27 | |
| HOLD | 58.000 | Michael Smedley | This is a long-term hold. | 2007-03-23 | |
| PAST TOP PICK | 53.900 | Paul Harris, CFA | (A Top Pick March 30/06. Down 3.6%.) Sold his holdings and moved into smaller companies that would have better growth prospects. Also, its cost structure is going up. | 2007-03-16 | |
| TOP PICK | 55.210 | David Cockfield | A gassy play. Have been reorganizing over the last couple of years. Recent results have been improving. Have a share repurchase plan. Drilling is up. | 2007-03-15 | |
Experts that have talked about Encana Corp
