Energy picks weigh down two Canadian Equity medalists

Large stakes in the struggling sector have led to negative performance so far this year.

Jeffrey Bunce, CFA 1 September, 2017 | 5:00PM

 

 

Jeff Bunce: After a strong recovery in 2016, the price of oil has been range-bound in 2017, with the benchmark West Texas Intermediate crude stuck between US$45 and US$55 a barrel. As oil is priced in U.S. dollars, a strengthening loonie versus the greenback in recent months has also been a headwind for many Canadian energy producers, and most firms need higher prices from current levels to be profitable.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Cenovus Energy Inc7.04 CAD0.00
Crescent Point Energy Corp2.60 CAD0.00
Seven Generations Energy Ltd5.44 CAD-0.55
Tourmaline Oil Corp18.56 CAD-0.05

About Author

Jeffrey Bunce, CFA

Jeffrey Bunce, CFA  Jeffrey Bunce, CFA, is a senior investment analyst for Morningstar’s Investment Management group.

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