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

TOP PICK

Levered to sweet light oil. Cash flow up 45%. 6.6% dividend yield. Hedge production, which is very positive. 55% of this year's production is hedged at prices of $88 to $104 and 35% for net year. Greatly increased drilling in Q1 with a 100% success rate.

TOP PICK

Indicated they won't be cutting the distribution. Break up was very wet this year and people have been selling, so it's a good opportunity. Will meet their guidance.

BUY

Could see this hitting the $48-$50 range over the next year or so. Have a rolling hedge program so are selling forward oil on the $100 range. Doing water floods on their Bakken properties. Also, exploring in Southern Alberta in the Bakkens. Sees the stock at $48 and with the 6.4% yield you get a nice return.

DON'T BUY

Earnings have been going up, especially this year. Their estimates have been going up. His model price is $30, a negative 31% differential. Also, they are paying out $2.76 and people want the yield, feels the stock is only at its current level because of the yield.

COMMENT

A 90% oil company and oil has been good up until now. A sound company. You have to take a look at what’s happening in the market place. He does hold a few stocks in a sector.

COMMENT

Have a wonderful property in the Bakken. On the other hand, they have been raising equity on an ongoing basis in about the amount it takes to pay out its distribution. Seems it has to continually tap into the capital markets to pay for the distribution. As long as energy prices remain strong, the dividend should be safe.

BUY

Energy sector had a big rally when crude prices surged to over $105. Crude has stayed up but the stocks have pulled back, which be because of profit taking or speculation that crude prices will have to pull back. This company will be generating a lot of cash flow. Likes their Saskatchewan and Alberta land inventory. Yield of 5%-6%. Good price level.

BUY

Light oil producer in the Bakkens. Great management. They’ll continue to perform well. Oil may pull back but the stock should be able to support over the long term.

DON'T BUY

Now a really big company and to get there, they issued a lot of paper, which is partly the problem with the stock. Have also had some problems on the drilling side. Great company and has a nice yield. Would suggest you look at Parallel Energy Trust (PLT.UN-T) instead, which has a nice yield of 8.4%. Also look at names that Crescent Point is likely to purchase in the future.

BUY

Correction is just a pull back in oil and nothing fundamentally wrong with this stock. They’re out there doing what they said they would do. Pays a great dividend. Costs are good.

HOLD

Likes it. Had a good run, been a market darling but has not been able to punch through the next level. They have hedged, so you wont get all the upside, but you wont get all the downside.

BUY

All energy stocks are well off the top, in sympathy perhaps with oil coming back off its highs. Target is $51-$52. Its key is its long term strategy, which is to buy as much highly prospective land or companies with lands, maximize the number of joint locations and over a period of time, drill enough holes to sustain long term production growth at 5%.

PAST TOP PICK

(A Top Pick March 19/10. Up 20.3%.) Still likes and if it backs off a little he while buy more.

TOP PICK

The dominant producer in the Bakken formation in Saskatchewan. An outstanding management team. 70,000 barrels a day of light sweet crude. When they get it to 100,000 barrels a day, one of the majors might pick them off. Very good at hedging so feels the 6% yield is sustainable.

BUY

Very oily and he likes its prospects. Dividends on oil companies come from cash flow rather than earnings so there’s lots of room for the dividend to grow more. Energy prices are going to stay high.

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Crescent Point Energy Corp (CPG.TO)