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

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Bonavista Energy Corp (BNP.TO)

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0.04

-0.01 (11.11%)

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

140 watching

TOP PICK

Superb management team and they own 20% of the trust. Have shown a tremendous ability to increase the reserve life. Slowly edging up the ROI. Has probably one of the best netbacks (operating cash flow) in the sector.

DON'T BUY

Within the energy trust sector, this is the premier company. The combination of quality management and building of reserves. The danger is that all the energy trusts are very expensive.

DON'T BUY

Management has done a great job in expanding production. Their cost structure is reasonable. Distributions have been increasing, but at some point in time, oil will fall back and distributions will come off. Would consider taking some profits.

BUY

Good, long term hold. Has one of the lower payout ratios, so less chance of a distribution cut. Has lower production costs than average.

TOP PICK

8/8.5 reserve life. Management owns 20/25% of it. Very good set of inventory and very strictly managed. Possible increase in distributions.

BUY

Q: Advantage or Bona Vista trust, or wait until after the S&P/TSX Comp. includes trusts? A: Now that trusts are so popular, we might see investors chasing yield to the point that they become horribly over priced. Advantage is highly leveraged re:operating ratios and debt to equity, but great gas exposure. Would pick Bonavista 1st.

BUY

Any of the royalty trusts are expensive these days, but have been skated on side by high oil prices. This one is one of the very best of the roylaty trusts. Low payout ratio and has been able to grow by the drill bit. Lower reserve life than average.

BUY

A top pick in the oil/gas royalty trust sector. Made a significant acquisition that adds to their reserve life.

BUY

One of his favourite trusts. Has a relatively small reserve life index. They have been able to mitigate this by growing their production every year. Keep their costs low. 50% of their cash flow goes to distributions.

BUY

Has a sector outperform on this trust. Now have 4 key areas that they derive their natural gas from. The majority of their acquisitions are funded from their cash flows.

WAIT

A first rate company. Very worried about the oil price coming off, so this is one he would buy if oil came down to $30.

DON'T BUY

Pretty expensive. High dividend pay out and very rapid depletion on their resource. Going to do another share issue. Prefers Arc Energy. A good time to take profits.

BUY

Just made an acquisition and the metrics look pretty good. It's gas which he likes even more than oil.

BUY

Of the energy trusts, this is one of the best managed. Outlook for energy is positive.

BUY

One of the concerns on royalty trusts is their ability to maintain distributions through a cycle. Watch how they fund acquisitions. This trust does it 100% through their operating cash flows.

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Bonavista Energy Corp (BNP.TO)