We are looking for North American energy stocks with strong relative valuations
The Screen
With benchmark crude oil prices down by more than 11 per cent this year, Saudi Arabia announced on Sunday it would curb oil production by one million barrels a day starting July in hopes of providing relief to depressed oil prices. OPEC has now decreased oil production by approximately 4.6 million b/d, or 4.6 per cent of global demand this year.
First, we screen for Canadian-, and U.S.-listed oil, gas and consumable fuels companies with a market capitalization greater than US$1-billion. We then use the StarMine Relative Valuation model to screen for companies with a score greater than 90. The relative valuation model is a percentile ranking of stocks based on price and enterprise value multiples such as price-to-earnings, price-to-cash-flow, price-to-book, and enterprise value-to-EBITDA, with 100 representing the highest rank.
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No injuries reported after daylight shooting in North York; suspect vehicle crashed into poleToronto police are searching for two suspects who fled on foot after their vehicle crashed into a pole following a shooting in North York on Sunday evening that did not result in any reported injuries.
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