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

Crescent Point Energy Corp (CPG.TO)

11.72

-0.04 (0.34%)

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

1026 watching

BUY

A name you want to own. New management has really focused the company on nat gas. Balance sheet is improving significantly. Will probably be able to raise dividend later this year. $20 target in next 3-5 years, with potential dividend increases along the way.

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COMMENT

It is a good company and has done well navigating through the oil and gas turmoil. It is buying back stock. The oil and gas business is tricky. Consider Tourmaline (TOU) as a more diversified company and its sister company Topaz. He also suggested Rubilex (RDY) as a very good micro cap. It is not being followed, trades at 2X cash flow and has very good drilling/exploration potential in a project.

Unspecified

It is a leveraged play. About 85% liquids. There will be a bonanza of cash flow due to higher commodity prices but don't hold through the cycle. There is a better one in the top picks.

Unspecified

It is a decent company which is earning its stripes back. There is still upside if management continues to be diligent to their commitments. Oil is still in a seasonal uptrend.

HOLD

Has followed company for a number of years, but does not own stock. Company has preformed well the past few years. A lot of properties that have potential. Will be a good investment in next 2-3 years. Not a good term short term hold (1-2 months). Stock price is fairly valued.

PAST TOP PICK

(A Top Pick Mar 30/20, Up 777.3%) He bought when they were throwing these stocks out. In his personal portfolio, he's now sold all his oil stocks, seeking better returns elsewhere.

N/A

Free cash flow yield very high. Reason company not trading higher is because of ESG concerns. Investors worried about how long energy prices will remain strong. Concerns about value of long dated reserves.

TOP PICK

Fits in with his themes of what's timely. Reasonably cheap, FMV is way higher. The kind of stock you can comfortably be in and not expect anything bad to happen. Yield is 2.14%. (Analysts’ price target is $10.95)

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BUY

Believes company will raise dividend soon. Has made some good acquisitions of assets. Cost savings and improved economics will increase stock price. $80 oil price, share price should be $13. $100 oil price, share price should be $19.

DON'T BUY

She owns no energy producers. CPG has benefited the past year from rising oil prices. But over five years, you're down double digits. This year, it'll depend on oil prices. If you think oil prices will go a lot higher, so will CPG, but she can't forecast oil. Though, she doesn't see a huge rise.

COMMENT

Believes company and energy sector getting a nice lift with energy prices rising. Good assets with attractive valuation, if energy prices stay at current level, or go lower. However, does not own stock. Better opportunities in Kelt Exploration, Nuvista Energy and Headwater Exploration.

HOLD

Recent large dividend increase. Lots of free cash. Astute management in turning the company around. Reasonable multiple. A longer term hold. Capex program is steady. Expects dividend increases over the years, and perhaps some buybacks.

BUY

Has been a terrible performer. Trading at an unbelievable discount. Trading at 2.5x cashflow at $70. They could pay a 12% return next year. Downside is limited and upside is meaningful. Deep value.

TOP PICK

Oil stocks are still cheap. Trades at 3 and a bit operating cashflow. Free cashflow generation is incredible right now. A good hold for the next year or two. More upside. Yield is 2.18%. (Analysts’ price target is $9.03)

COMMENT

There was an overhang from Shell. The real hindrance is that management does not get the necessity of meaningful return of capital. The stock is inexpensive, trading at 2.3x at $70, 1.9x at $80. Free cashflow is 24% at $70 and 35 at $80. Need to be more convinced they will be more aggressive with ROC.

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Crescent Point Energy Corp (CPG.TO)