13:47:15 EDT Tue 25 Jun 2019
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Oil Summary
Symbol C : *MKTOIL
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Energy Summary for Jan. 3, 2019

2019-01-03 20:49 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for February delivery added 55 cents to $47.09 on the New York Merc, while Brent for March added $1.04 to $55.95 (all figures in this para U.S.). Western Canadian Select traded at a discount of $12.81 to WTI, up from a discount of $15.65. Natural gas for February lost one cent to $2.95. The TSX energy index lost a fraction to close at 140.09.

It is the second trading day of 2019, and analysts' annual lists of "the best stocks to buy this year" are starting to fly thick and fast. Today brought a flurry of recommendations from Raymond James, whose analysts picked 19 stocks from 14 sectors. Among oil and gas producers, the analysts like: Suncor Energy Inc. (SU: $38.07), with an "outperform" rating and a price target of $59; Enerplus Corp. (ERF: $10.96), which is a "strong buy" with a rating of $20; and ARC Resources Ltd. (ARX: $8.44), a "strong buy" with a rating of $18. They singled out ARC as "our top pick for 2019," explaining, "Its track record of valuation creation with one of the strongest balance sheets in its peer group should make it a core position." Meanwhile, the analysts at Desjardins Securities released their annual list of favourites yesterday, selecting 28 stocks from eight sectors. They also had three oil and gas picks: Enerplus, with a target of $20; Canadian Natural Resources Ltd. (CNQ: $33.63), with a target of $50, and NuVista Energy Ltd. (NVA: $4.32), with a target of $9.

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