04:37:48 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Legacy Oil + Gas Inc (2)
Symbol LEG
Shares Issued 199,730,050
Close 2014-09-30 C$ 6.13
Market Cap C$ 1,224,345,207
Recent Sedar Documents

FP says Tatters advises selling Legacy Oil + Gas

2014-10-01 09:50 ET - In the News

The Financial Post reports in its Wednesday, Oct. 1, edition that Triumph Asset Management manager Bruce Tatters recommends selling Legacy Oil + Gas ($6.13). The Post's Jonathan Ratner writes in the Buy & Sell column that Mr. Tatters ended his exposure to Legacy in the second quarter. He started unloading the shares when oil prices surged in June after ISIS invaded Iraq. He says: "We thought the world was a little overexuberant on oil prices. ... On top of that, valuations had moved up. Once the stock hit $10, we eliminated the entire position." Mr. Tatters believes the proliferation of large-cap index-related funds is pushing valuations in those areas to excessive levels, making the market more fertile for picking stocks, as opposed to buying the overall market. He says, "There are massive flows of Canadian money moving into these funds, making the largest index-related stocks expensive relative to the overall market."

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