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

Continues to buy in the $42 area. Dividend is safe. They are paying out on 70% of cash flow. Have done exception job of getting great properties. He is sticking with it for now. Main risk is distribution gets cut, but not sure if market is paying for distribution.

PAST TOP PICK

(A Top Pick Jan 19/11. Down 2.75%.) Still likes.

TOP PICK

(A Top Pick May 12/10. Up 4.94%.) Has been a lot of pressure on them recently as there has been a tremendous amount of rain out West. Thinks this is been overblown. There may not be substantial drilling until the4th quarter but this has not changed the fundamentals. Expects oil prices to remain steady or go higher.

HOLD

A preeminent Bakken player in Saskatchewan. Valuation very well reflects the upside in their existing play. Not cheap. Should be up to maintain the dividend.

BUY

Has been a fast growing company that made a number of acquisitions. On a statistical basis it does not make any earnings. They are paying a nice dividend out of cash flow. Flooding will affect their Q2. It will be weakfish but once we get by that it will be fine. Don’t look at earnings – look at cash flow.

DON'T BUY

He has been Short on this one for some time and it is now right about the cost where he has shorted it. Has a yield of 6.84%. Earnings are $0.56 this year. They're not covering their dividend. His model price is $27.70, a negative 35%. He thinks it's worth around $27-$28.

BUY

Have issued a lot of stock to raise money for acquisitions. Have been able to create one of the best assets in Western Canada. About 55% payout ratio and distributions should be safe. The upside for them is the water flood that stems their declines.

BUY

Making enough money to pay the dividends? Energy companies don't pay their dividends out of earnings, they pay it out of cash flow and this company has a growing cash flow.

WAIT

Extremely leveraged to crude oil prices. They said dividend but at the end of the day it is extremely aggressive because they are the biggest player in the Bakken. Would hold off until oil prices settle.

DON'T BUY

Model price $25.32. Q1 was a loss. Yield is not valuation. People are paying a lot of money for yield. One of these days, when yield is not a factor…

BUY

Continually coming to the market to do issues. They are oil weighted, It is a great name and he recommends it.

COMMENT

High yield of 5.9%. He is positive on commodities and energy and this stock will be a beneficiary of that. Primarily a yield, but you’ll also get a lift on it.

BUY

Very active driller in the Bakken in Dakota and Saskatchewan. Really an exploration/development company.

BUY

Owns it in income accounts. Likes it because it is more oily and their locations. Good growth and production profiles.

PAST TOP PICK

(A Top Pick May 10/10. Up 12.84%.) Made a lot of money on this one over the last 2 years, but no longer owns.

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Crescent Point Energy Corp (CPG.TO)