Bonavista Energy Corp (BNP.TO) Buy, Sell or…

Bonavista Energy Corp (BNP.TO)

0.04

-0.01 (11.11%)

as of Aug 14, 2020, 8:00:00 pm Market Open.

140 watching

TOP PICK

60% of his business is natural gas or natural gas liquids. One of the key players in the central part of Alberta. Good management. Great yield. Management has stated they would first cut CapX and secondly accelerate the DRIP program and finally sell off less attractive parts of the business before they cut the yield.

COMMENT

Good company.

BUY

60%-65% weighted to natural gas. Recently refinanced so their distribution is sustainable. Excellent management team with a deep inventory of multi-zone prospects. They have the ability, with their asset base, to allocate their drilling program to liquid rich or dry natural gas.

COMMENT

Dividend sustainability depends on natural gas prices. If they can hedge gas prices at $3 or better into 2013, he thinks the dividend is okay. Balance sheet is a little bit stretched.

COMMENT

Valued at the lower end of their intermediate peer group. Stock has underperformed the group. About 60% natural gas/40% crude. There is a fear that they will be cutting the distribution. If natural gas can stay above the $2.50 level and crude stays above $80-$85, she doesn’t thinks they will cut the distribution.

DON'T BUY

Great energy stock when it comes to gas, but gas prices have to improve. This type of company is a great buy, but for the longer-term, not for the next few months.

COMMENT

One of his favourite stocks. The question is, will they cut their dividend. He doesn't think so. To do that, you have to see $70-$75 oil in all of 2013 and natural gas at $2. They have increased their hedges, selling off redundant land (75 million 1st quarter and probably another 75 in the 2nd) and they have deferred capital spending.

COMMENT

Very well-managed and have proven themselves through the years. US shale gas production has continued to grow although it is slowing down. Probably seeing natural gas trading $2-$4 for the next few years. Dividend payout could be in danger for the next little while but it cut dividends could be good for them in the long term.

DON'T BUY

A great Canadian success story. The problem is, it has too much natural gas exposure. He will always be watching this one as there is probably a price where it stops. Finance market has gotten worse, so the question is, how do you finance. He would watch technical indicators to see where he would get in.

BUY

Stock is going down because it is primarily a natural gas producer and its debt levels have got a little bit high. Doesn't believe they will be cutting their dividend. Expect they will make a substantial acquisition in something that is oilier. Have great assets so would have no problem selling something to pay down debt.

COMMENT

(A Market Call Minute.) Well-managed.

BUY

Have tons and tons of drilling opportunities ahead of them. Thinks they will get through this tough natural gas environment and doesn't think they will be cutting the dividend.

DON'T BUY

(Market Call Minute.) Sold his holdings in order to buy Baytex (BTE-T). Too much gas exposure.

HOLD

Management states that the dividend is safe so he is going to take them at their word. This is one of his 2 favourites.

DON'T BUY

Had a broken trend line in 2011 and it is now in a major down trend line. It is oversold and it is possible for it to have some kind of a rally but it has broken a lot of supports.

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Bonavista Energy Corp (BNP.TO)