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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (79073)	3/7/2020 8:58:46 AM
From: Goose94	Read Replies (1) of 202704

MEG Energy (MEG-T) revisited 2.0 top pick from Eric Nuttall on BNN.ca Market Call Friday Mar 6th @ 1200ET MEG is a midcap oil sands producer with 55 per cent of their production hedged in 2020 at a $59 WTI floor and at strip pricing ($48 WTI) it would still generate $225 million of free cash flow. With 33 years of proved production, the stock trades at 81 per cent of their blow-down value and with $60 WTI and a $17.50 WCS differential, at a 38 per cent free cash flow yield (14 per cent free cash flow yield on an enterprise value basis). With meaningful tax losses, increasing direct takeaway to the Gulf Coast via the Seaway and Flanagan pipelines in the second half of 2020, and an improving backdrop for Canadian WCS differentials in general, we think MEG could be acquired for over $9 per share in the coming years.

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