Crescent Point Energy Corp (CPG.TO) Buy, Sell…

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Crescent Point Energy Corp (CPG.TO)

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11.72

-0.04 (0.34%)

as of May 14, 2024, 8:00:00 pm Market Open.

1026 watching

COMMENT

No doubt it's a cheap stock, but Devon Energy has lost 25 straight points (which is ridiculous) in a round trip. Buy Devon.

BUY

$100 oil solves all their problems. Paid down debt. Increased dividend, and that's the right thing to do. This move will attract new investors. Even oil at $80-100, these companies are highly profitable.

WEAK BUY

Reducing leverage on balance sheet. Should be close to net cash by end of 2022. Relatively cheap versus the peer group. Letting hedges roll off, so should see better cashflow. Production looks relatively flat for the next couple of years. Recently raised dividend. Once energy consolidates, names like this should do well.

BUY

John: 40% free cashflow yield. Cheap. Still makes money if oil goes down to $50.

BUY

It's one of the higher-levered companies to energy pricing. They are well-positioned in the US Bakken. Probably they can drill more and get more oil to market fairly quickly. Likes it and this should go higher.

BUY ON WEAKNESS

Pays a 2.88% dividend yield and suspects that's safe given oil prices. He prefers Suncor and CNQ and Chevron, larger caps in energy. CPG is down 34% in 11 days, along with many energy stocks. So, now is an opportunity. Likes it. Oil supply can't meet demand.

DON'T BUY

Energy stocks have fallen the past week, despite good long term prospects for sector. Has not bought Canadian energy stocks due to price discount in Canada. Would not buy shares in company. Prefers European names in sector.

BUY

Shares will be driven by oil's price. She prefers the pipeline stocks because they pay good dividends and are less volatile than oil stocks. If you're bullish oil, you can buy CPG.

TOP PICK

With his three top picks he is aiming to create a portfolio that even if it doesn't work in the short or medium term it won't collapse. CPG is 4 1/2 X Earnings and 1 X Book Value. Oils should continue to do well. Buy 11, Hold 2, Sell 0. (Analysts’ price target is $14.92)

SELL

Longer-term outlook is "When will we hit peak traditional energy demand?". Big oil is not investing any more in North America. There is a window there where oil prices will stay high due to this lack of investment. Hard to time. Interesting for traders but long-term investors should sell into the strength.

BUY

Has been buying shares in company for the past few weeks. Expecting plan for return of capital to shareholders soon. Company at point where inventory depth is adequate. Currently trading at 1.9x cash flow and has 29% free cash flow yield. Expecting company to be debt free next year. Will start seeing share buybacks and dividend increase. Share price should be around $22 (91% upside). 4th largest shareholder at the moment.

BUY ON WEAKNESS

Believes company has been overlooked by investors. Company trading at a very cheap multiple. Risk is that company does not execute, or Russia tensions fall. Expecting company share price to increase if oil prices remain strong.

COMMENT

Obviously CPG has benefited from rising oil prices. She owned this years ago, but now prefers the pipelines, which avoid oil price utility. CPG will go where crude oil goes.

BUY

Similar to Baytex, but carries a little more debt. They have sold some assets to re-focus. They have leverage to the upside, but if you are negative about oil, you can short this.

TOP PICK

These companies have finally got religion by treating their shareholders better by paying down their debt, raising dividends and buying back shares. Trading at a 20%+ free cash flow yield. He chose CPG and sees more upside than other oil companies, because CPG was the worst offender (under the past CEO) in buying companies, issuing more stocks and diluting shares. Now, they've changed--consolidating, raising the dividend, paying down debt and buying back shares. Of course, it benefits from high oil prices. (Analysts’ price target is $13.71)

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Crescent Point Energy Corp (CPG.TO)