'Mind-blowing' free cash flow coming from oil sector: Nuttall
BNN Bloomberg
Long-time oil bull Eric Nuttall is predicting "mind-blowing" results from the oil producers that were Bay Street's star performers in the first half of this year.
"I think it's going to be a very, very strong second half to this year," he said in an interview Wednesday.
"Yes, we get sucked up into macro volatility and whatnot; you know, recessionary fears and such. But I think what we're going to see is [second-quarter] results for this space are going to be absolutely mind blowing in terms of how much free cash flow they're generating and the commitment not to grow and return back to investors."
Nuttall, a partner and senior portfolio manager with Ninepoint Partners LP, was one of few voices who urged investors to play the long game when crude oil prices collapsed in the early months of the pandemic, including a brief trade in negative territory.
