STOCKCHASE

Growth in oil sands production will benefit with their production and refining assets. Have also acquired some cheap gas stations in Ontario from Petrocan (PCA-T). 4.5% yield.

2010-02-01

SELL

27.650

Hard to see a strong catalyst going forward. Will probably move up higher with oil prices but you could get more bang for your buck. Have a lot of exposure to refining, which is where you don't want to be these days.

2010-01-22

PAST TOP PICK

27.840

(A Top Pick Jan 23/09. Up 1.73%.)

2010-01-21

Comment

30.080

Douglas Kee

Cut their dividend last summer so there is the potential, if everything goes well, that they will increase their dividend.

2010-01-08

DON'T BUY

30.470

Mason Granger

Great stock if you are worried about energy markets going down. Hasn’t been a great performer in last year like most of the other integrated producers. Expects 4% growth added to 4% dividend for 2010. Thinks you can do better in alternative energy investments.

2010-01-05

PAST TOP PICK

29.220

(A Top Pick Dec 5/08. Up 5.7% plus dividends.) Some of the recent results have been disappointing. Having a hard time holding their production level and things seem to have gone quiet in there far Eastern drilling.

2009-12-21

SELL

29.400

Steve Carlin

Integrated oil in this sector has been under pressure because of poor refining margins. Doesn't say a whole lot of improvements in the refining sector in the next 6-12 months. Sold his holdings.

2009-12-16

DON'T BUY

29.010

Ara Nalbandian

He doesn’t follow it closely. It has significant downstream operations (refining), which are valued at much lower multiples. He prefers other names in the sector such as Talisman.

2009-12-15

DON'T BUY

27.580

Recently had a big discovery in the South China Sea. A big company and it is hard to get a lot of momentum out of it. He would suggest looking into a specific area as opposed to being in an integrated.

2009-12-10

DON'T BUY

27.700

John Zechner

Negative on this company is that it is more heavy oil, which drives to the refinery, and that end is not doing as well. Margins are getting hurt.

2009-11-30

Comment

27.920

Christine Poole

Yielding 4.3%. Primarily heavy oil. Looking to spin off their Asian natural gas assets sometime next year, which could be a catalyst.

2009-11-26

TOP PICK

28.220

Have oil sands, refining/marketing and offshore East Coast. 4.25% yield. Could be a takeover target, as it doesn't have Canada protection act.

2009-11-23

DON'T BUY

28.600

Attractive from a valuation standpoint and looks reasonably cheap but has too much exposure to US downstream refining and refining is bad.

2009-11-09

SELL

28.190

Not the most dynamic management. Refining has not been very profitable. Production is relatively flat.

2009-11-06

HOLD

27.740

Craig MacAdam

(Market Call Minute.) Great basket of assets that management just doesn't seem to optimize it well.

2009-11-02

PAST TOP PICK

28.500

(A Top Pick Oct 31/08. Down 21.9%.) Becoming an under performer. Having a hard look at this one.

2009-10-30

HOLD

28.460

Jaime Carrasco

Likes energy. 4.25% yield. Prefers companies with higher yields such as Daylight Energy (DAY.UN-T). (See Top Picks.)

2009-10-29

HOLD

32.770

Joseph Schachter

Has not responded, but has been a descent return. But will stay 2 or 3 dollars either side until we see a sustainable recovery in the economy and we see something happen in Nat Gas. This is a nice way to get into the patch for the conservative investor. Reasonable dividend 3.6%. Not likely to be taken over.

2009-10-20

WATCH

30.140

Robert Lauzon

Has been a disappointment. Oil prices have doubled since January but this one has been flat for a full year. There is a catalyst coming in that they are going to spin off offshore natural gas assets in Asia. That should move the stock a little higher. Consider trimming on that strength.

2009-10-05

BUY

30.370

Have some opportunities with their Southeast Asian fields to further delineate them and show some good production in the future. East Coast also seems to be a positive. Refining is a slight negative but not a huge one. Low downside risk and reasonable upside.

2009-09-28

PAST TOP PICK

30.820

(A Top Pick Sept 26/08. Down 30.32%.)

2009-09-23

PAST TOP PICK

30.750

Ron Meisels

(A Top Pick Sept 3/08. Down 29% but he got stopped out and was down 14%.) Now starting to make a base and is probably going to be a better looking stock but not yet.

2009-09-18

DON'T BUY

30.320

Steve Carlin

Did a long analysis on the whole integrated side of oil/gas in Canada and this ended up not being his favourite. Doesn't have as much upside potential as others.

2009-09-16

Comment

29.600

Joanne A. Hruska, CFA

Relative to its peers, the chart is quite weak. It intrigues her and it may be getting to a point where this may be a buy again soon.

2009-09-14

BUY on WEAKNESS

30.340

(Market Call Minute.)

2009-08-27

BUY

30.710

(Market Call Minute.) The poor man's Suncor (SU-T) and should benefit from that because it is a big oil sands producer. Also marketing margins are improving.

2009-08-25

BUY on WEAKNESS

30.960

Laura Lau

Under $30 is a good entry point, which gives you about a 4% dividend. Very stable company.

2009-08-14

HOLD

30.010

Have some interesting properties. Has been suffering a little because of the high price of heavy oil. They are a refiner so they are buying heavy oil as their feedstock. There are others that he likes better in the same space such as Suncor (SU-T) and PetroCanada (PCA-T).

2009-08-11

HOLD

30.790

Bruce Campbell

(Market Call Minute.) Prefers others.

2009-08-10

TOP PICK

31.270

(A Top Pick Aug 1/08. Down 32.2%.) Integrated and it is big. Relatively oily. Have offshore assets. Good management. 3.8% yield. When the earnings come back you'll see the dividend come back.

2009-08-07

HOLD

33.360

Fairly valued. There is potential for it to re-rate over time but thinks it has come fairly far, fairly fast. Would prefer Imperial Oil (IMO-T).

2009-07-24

Comment

30.950

Dennis Da Silva

Good defensive stock to own especially in low oil prices but he sees oil prices improving, especially in senior names. Shifted their capital program more to Southeast Asia. Have indicated a desire to spin it out.

2009-07-16

BUY

30.720

John Zechner

Positive on oil going forward. It's okay to add this name here. Not the highest growth name in the sector but he'd rather be playing the oil stocks rather than natural gas.

2009-07-13

BUY

30.320

Jaime Carrasco

Crescent Point Energy (CPG.UN-T) or Husky (HSE-T)? Likes both companies but his preference would be Crescent Point because of the cash flow they are paying. Have great management and great property. Both of them will do very well on a long-term basis.

2009-07-06

PARTIAL BUY

35.150

Charles Lannon

Well diversified energy company with offshore production as well as refining and marketing assets. Always had a sensible cash return policy. Paid generous dividends but haven't levered up the balance sheet to do it. Thinks oil has gotten ahead of itself and there needs to be a rebound in global demand. Phase in purchases over 9 or 10 months as he expects there will be a pullback.

2009-06-12

TOP PICK

34.450

Looking for $85 oil by the end of the year. This one is always a little bit under the radar. Doesn't think they are getting the benefit of their Southeast Asia operations. Good yield of 3.5%.

2009-06-05

TOP PICK

33.650

Lee Kai Sheng (?) owns 35% of the control block is 75 and will be retiring in the next couple of years, could donate his holdings to China. Could be a takeover. This is your Suncor (SU-T) equivalent but a lot cheaper. 3.6% yield.

2009-06-04

TOP PICK

29.080

Marc-Andre Robitaille

Highest yielding common stock in energies in Canada. History of returning cash to shareholders. For numerous years they have paid special dividends, although not last year. Low debt to equities. Biggest risk is the commodity price.

2009-04-15

BUY

29.550

Most analysts are very favourable on this. Good production growth on the east coast side of the business as well as their offshore Asian fields. Also has diversity with their refining.

2009-04-14

TOP PICK

28.050

(A Top Pick April 24/08 Down 36.4%.) Cut the dividend but the yield is still attractive. Good integrated, solid and well run company. Not enough appreciation of their offshore assets.

2009-04-09

BUY

27.590

(Market Call Minute.)

2009-04-03

BUY

27.320

Dennis Da Silva

Has always associated it with low growth situations but in this type of environment, a great defensive position. Very clean balance sheet and exposes you to the upside up oil prices. In a rising commodity price environment, their retail side will get squeezed a little more.

2009-03-26

BUY

27.740

Martin Hubbes, CFA

If you want to play oil in a conservative way, this is a great way to do it. A little less torque to the oil price but obviously a very good operator with good assets. They are starting to get returns from their assets.

2009-03-23

TOP PICK

26.400

(A Top Pick Feb 8/08. Down 33.8%.) Cut their dividend but it will probably be reinstated when their cash flow starts coming back. Likes some of their Far East plays.

2009-03-09

BUY

26.190

Oil is starting to look attractive.

2009-03-06

Comment

26.600

In 3 or 4 years, energy prices will have to be higher. Would hold off to see if the stocks go lower. If oil goes sideways for another month or two, there is no rush to be in them.

2009-02-20

BUY

30.770

Michael Decter

(Market Call Minute.) Great dividend. Has been really beaten up.

2009-01-28

TOP PICK

29.360

6.7% yield. Performance is more sideways than down. There are concerns that the dividend might get cut.

2009-01-23

BUY

32.670

(Market Call Minute.) A poor man's Suncor (SU-T). Have very much the same sort of assets plus east coast oil. Thinks oil is coming back and this will be a beneficiary.

2009-01-14

BUY

32.050

David Burrows

Integrateds have been performing well lately. Good dividend yield.

2009-01-07

STRONG BUY

31.880

(Market Call Minute.) Very strong buy. Coming off a weak patch but should move higher, particularly with East Coast oil and gas as a catalyst.

2009-01-02

BUY

27.690

Gordon Higgins, CA, MBA

Great asset base. Have a refinery so they benefit even when oil prices go down. Cut back on their budget so still have free cash flow. Very solid company. 7.25% yield could be at risk.

2008-12-22

BUY

31.160

Bill MacLachlan

Quite optimistic about this one. There is always the possibility of it being taken over by its primary shareholder. Conservatively managed. Excellent balance sheet. One of the more conservative ways to play the energy situation.

2008-12-11

Comment

29.950

Peter Gibson

34% ROE. Rate of profitability is very strong right now but expects that to deteriorate quite sharply. Trading at 5.6X earnings. Yield of 6.6%.

2008-12-09

TOP PICK

27.720

Loves the 7% yield. You might have to set with the stocks for 6 to 9 months so you might as well get paid while waiting.

2008-12-05

DON'T BUY

29.260

Jean-Francois Tardif

Very good company. Great track record. Very well managed. Personally he prefers others in the sector as they have fallen far greater than this one. There is more money to be made in others.

2008-12-02

TOP PICK

36.200

Hap (Robert) Sneddon FCSI

Very good yield of 5% plus. Well run company. Not being recognized for their China Sea and China connections.

2008-10-31

BUY

35.770

Robert Floyd

(Market Call Minute.) Likes this company. Offering a strong yield.

2008-10-30

WEAK BUY

30.800

Brendan Caldwell

Question: If oil prices were $55 in 2009, which of Canadian Oil Sands (COS.UN-T), Suncor (SU-T) or Husky Energy (HSE-T) would you buy?Answer: Probably Husky. It is an integrated with a lot more diversification. Suncor is integrated but is mostly heavy oil. Canadian Oil Sands is entirely heavy oil. Heavy oil is the most vulnerable to the changes in energy prices.

2008-10-27

HOLD

33.000

Bill MacLachlan

Very well run. Likes that there is always the possibility of a takeout by the controlling shareholder. One of the better larger energy companies out there.

2008-10-23

HOLD

35.320

Dennis Da Silva

Almost 6% dividend. Had its share of execution problems. Looks cheap on paper. Fully integrated so you have to have concerns on their downstream operations. Has assets in China, a country he is not strong on. You will see a stronger Q3 number coming out but the refining squeeze will be coming out in Q4.

2008-10-21

HOLD

33.520

Picture for oil is pretty good.

2008-10-08

DON'T BUY

44.200

Good liquidity. Refining looking a little better. Expecting to do well. There are others he likes better.

2008-09-30

TOP PICK

46.800

Not a favourite amongst the analysts, but he likes it because it is a well run company and has a good yield. Held up very well in the market selloff. Sold off part of their tar sands. Have a refinery that adds to their earnings.

2008-09-26

HOLD

47.400

Joseph Schachter

Starting to rebound. Has the ability to go to all-time highs. Well managed. Tremendous assets off East Coast Canada.

2008-09-25

TOP PICK

45.920

Ron Meisels

Has a major uptrend line. Above the 200-day moving average. Seems to be the strongest of all the oils. Stop/loss position of around $41.

2008-09-03

BUY

46.670

Expect you could see a 15% to 20% upside from here. They are rolling in cash. White Rose continues to do well. Production is about to start at Tucker, an oil sands project. Recently signed an agreement with the Chinese oil and gas company to explore in the South China Sea.

2008-08-22

Comment

45.250

Bruce Campbell

(Market Call Minute.) Pulled back with the resource side. Not one of his favourites. Will move with higher prices but he prefers others.

2008-08-18

BUY

44.220

Ron Meisels

This one never ran as much as the others so it corrected less. Trading near its 200-day moving average and may very well be the 1st one to go. Breakout point is around $46. Use a stop/loss of around $41-$42.

2008-08-15

BUY

45.180

Brian Acker, CA

Didn't have a big pullback, but still a great opportunity. The model price is $68.36. A 54% positive differential.

2008-08-06

TOP PICK

46.120

4% yield. Will be debt free by the 3rd quarter and will probably pay a special dividend. Did a deal with BP on refineries, which is accretive.

2008-08-01

TOP PICK

45.340

John O'Connell, CFA

4.3% dividend and potential for a special dividend. Making a ton of money. Well integrated. Have some great long life assets. Trading at around $60 oil.

2008-07-31

BUY

42.140

Thinks it has turned the corner. Had a few weak quarters in production but is starting to fire on all cylinders. The oil sands piece is getting more visible.

2008-07-16

BUY

48.120

Robert Floyd

Well managed company. Likes their international assets.

2008-06-24

BUY

47.610

Integrated. Pretty good yield at 3%. A good buy under $50. No one pays attention to their Chinese assets in the China Sea where they has some excellent drilling prospects.

2008-06-20

BUY

50.000

(Market Call Minute.) Strong production growth from the east coast and increasing production from the oil sands.

2008-06-16

BUY

51.540

Brendan Kyne

Caller: Husky Energy (HSE-T) or Petro Canada (PCA-T)?Brendan: Likes Husky better than Petro Canada at this stage as Husky has a really solid management team. Keep a good eye on the cost side. Both stocks will trade in line with what goes on in the commodity price.

2008-06-06

Comment

49.950

Steve Carlin

Refining margins have shrunk significantly so the stock has lagged.

2008-06-03

Comment

51.940

Would probably put money in Encana (ECA-T), Talisman (TLM-T) or Canadian Natural Resources (CNQ-T) first. Have a lot of stuff going for them.

2008-05-16

TOP PICK

49.620

John O'Connell, CFA

3.5% dividend. Believes long-term in the energy story. Good fundamentals. Just did a deal with BP giving them access to refineries. Also, BP agreed to fund a lot of the cash flow expansion of their Tucker and Sunrise projects. Very strong balance sheet.

2008-05-15

BUY

49.030

David Burrows

Likes the big energy companies. Weekly charts would show they have broken out of 2 years of consolidation, which is extremely bullish.

2008-05-06

TOP PICK

44.800

For people who want to own a large integrated, this is probably the best of the lot at the moment. Trades at a lower multiple than either Imperial Oil (IMO-T) or Suncor (SU-T). Good set of diversified assets. 3.5% yield.

2008-04-24

BUY

43.910

Gordon Higgins, CA, MBA

Have done a lot of things strategically well. They had heavy oil and found refineries to take it and also did joint ventures. It is cheap, but refinery margins are a little bit tight right now, which may be the perception that is keeping the stock price down.

2008-04-17

PAST TOP PICK

41.760

Brian Acker, CA

(A Top Pick Apr 12/07. No change.) Earnings are so great and they're going on the balance sheet making the balance sheet larger so it's in proportion to the earnings. His model price is $58.35, a 42% positive differential.

2008-04-03

WEAK BUY

41.520

Norman Levine

A blend of conventional oil and refining and marketing. Long-term outlook on refining and marketing is positive. Wouldn’t have any problem buying here.

2008-03-27

HOLD

42.400

Joseph Schachter

Likes the mix of assets. The only limiting factor in the near term is refining and marketing margins may get hit, as there is enough gasoline in storage. Expecting all-time highs sometime this year. For conservative investors, it makes a lot of sense.

2008-03-07

HOLD

42.510

If you want to play the oil story, you are better off playing Canadian Oil Sands (COS.UN-T) or Canadian Natural Resources (CNQ-T), which have tremendous leverage to oil. Not a bad name but he would rate it as a Hold. Primarily the growth in the name was through White Rose, offshore Newfoundland and Nova Scotia and has really plateaued. Oil sands project looks like it's going to be delayed with cost overruns. (He has been lightening his position.)

2008-03-05

BUY

41.520

Alex Ruus

Likes oil going forward. This is a very good quality company. More of a heavy oil weighted producer. Dividend is greater than 3%.

2008-02-25

BUY

39.600

Kenneth P. Norquay, CMT

Had an uptrend in place and, in 07, drifted into a sideways pattern. When the overall market went down and this held its own, it had relative strength, which means it's more on the top of the list rather than the bottom. Had a selling climax in January and current price is just a little above it. If it starts to go up again with a little bit of volume, he would be all over it. If you are a short-term trader, put a stop under the January low.

2008-02-12

PAST TOP PICK

39.870

(A Top Pick Feb 21/07. Up 10%.) Considers this as a Hold now. Costs are starting to escalate.

2008-02-08

TOP PICK

39.870

Didn't like some of the numbers that recently came out, but does like the 3% dividend. Over the last 5 years they have had the best performance on a per-share basis of the any of the integrated companies.

2008-02-08

TOP PICK

39.950

Brian Acker, CA

He likes oil, especially in Canada. The model price is $54, a 32% positive differential. If oils get whacked and this owes down to around $37, then back up the truck.

2008-02-07

BUY

42.180

David Baskin

The future for oil prices is bright. Demand is continuing to increase particularly from newly industrialized countries. For a medium term horizon, oil is a good bet.

2008-02-04

TOP PICK

43.610

Likes the recent partnership deal with BP of sharing oil sands in exchange for refinery capacity in Toledo. Also have some good prospects in southeast Asia. Has a good yield.

2007-12-21

BUY

43.410

David Baskin

Did 2 big deals, one in the oil sands and one offshore, both of which require big capital expenditures. Luckily oil companies are coining cash as a result of high prices. Nonetheless, costs in the oil sands have grown exponentially. Have a pretty good base in heavy oil and the oil sands and has held up pretty well. Feels that oil prices are going to hang in.

2007-12-18

BUY

42.600

Robert Floyd

Interesting scenario and not a bad valuation.

2007-12-11

TOP PICK

42.700

John O'Connell, CFA

Good dividend. Just did a deal with BP who are back in the Canadian oil patch again. Selling heavy oil into a joint venture with BP, giving them access to the Toledo refinery.

2007-12-10

BUY

42.470