Tag Archives: Energy

Crescent Point Energy Corp falls on Legacy Oil and Gas deal


Shareholders don’t exactly love Crescent Point Energy Corp.’s $1.5-billion deal to acquire Legacy Gas and oil Inc. – at least not at first glance. The stock was down almost five per cent Wednesday, after the Calgary-based oil and gas producer announced it is buying its competitor to add assets in the core southeast Saskatchewan area. Strategically, the deal makes a ...

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Energy ETF investors are betting oil’s rally is already over


Investors are cautiously pulling money out of energy producers the very first time in eight months, taking short-term gains after oil rebounded from the six-year low. More than $1.55 billion has been withdrawn this month from exchange-traded funds concentrated on energy stocks for example Exxon Mobil Corp. and Chevron Corp. It\’s on pace for the first monthly setback for the ...

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Who are the takeover targets as energy money moves out of Alberta?


The uncertainty surrounding Alberta’s policy on gas and oil royalties has already caused several companies to shift capital into other provinces, and this should come as no surprise. Premier Rachel Notley and her newly-elected NDP government promise to move quickly on their own royalty review, and description how the process works by the end of summer time. The economic environment ...

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Energy investors haven’t made money in a decade — why are they still clinging to false hope?


It has been a very challenging time for investors in the energy space, but we discover their resiliency impressive, considering they have endured a decade of little to no returns. Big oil warns world to brace for any different, but equally daunting, price shock to come Oil companies say there will be a price to pay – a significantly higher ...

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U.S. markets close higher, but energy stocks fall and Greece hopes waiver


U.S. stocks closed higher on Wednesday but were down from earlier highs as energy stocks declined and Greece\’s debt crisis showed no clear indications of resolution. The benchmark S&P 500\’s energy sector was dragged down through the biggest slide in oil prices since April after traders were surprised at a report that showed U.S. crude stockpiles rose the very first ...

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Gran Tierra Energy Inc upgraded to buy


Gran Tierra Energy Inc. was upgraded to purchase from hold at Canaccord Genuity as a result of its renewed capital resolve for Colombia. Analyst Christopher Brown also raised his price target on Gran Tierra shares to $5 from $4, hoping that the company’s new management team will fulfill their promises to shareholders. West Face Capital’s successful shake-up of Gran Tierra’s ...

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Energy patch managers stuck in ‘wait-and-see’ mode


The tone at this year’s Calgary Stampede is understandably more sobering compared to the recent past since crude oil and the overall equity market are rather weak. Participants would likely be a little more upbeat if crude had increased from US$60 per barrel, instead of moving down again to the low US$50 range. Analysts at Raymond James, which hosted its ...

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Energy stocks push Toronto stock market higher, loonie trades lower


TORONTO – The Toronto Stock market ended your day higher on Thursday, helped by strength within the energy stocks as some big names within the sector announced plans to cut costs in releasing their quarterly results. The S&P/TSX composite index gained 80.98 points to 14,382.78 as Suncor Energy said it plans to cut its capital spending and Cenovus Energy slashed ...

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