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

DON'T BUY

Naked short selling is a derivative strategy. They have to raise a lot of money each year to finance their CAP-X activities. He has been out of this one and looking at other stocks since this did not appear to be a sustainable business model. His math says it is not.

HOLD

This group came off their highs 5-10%, which was initially due to the run-up in oil and fear it would come down very quickly. He is very bullish on oil but in a modified way. CPG is relatively expensive, but they got it right – get your hands on as much prospective land as possible because the price of oil is going up. Buying it for new accounts.

BUY ON WEAKNESS

One of the best oil companies in Canada. What is extraordinary is acknowledging that they want the big oil resource plays and how they can add primary, secondary and ternary production and they have an incredible resource that they can keep adding and expanding to products that they have already got. Would buy on a hiccup.

BUY

Well-managed company. Oil focused. Most appealing thing is the 6.3% dividend. You get exposure to the commodity price as well as the down side protection that a good yield provides.

DON'T BUY

A lot of properties that have potential for drilling far into the future. His concern is the payout of $2.76 per year. Have a huge take-up in their dividend reinvestment plan, which dilutes the stock. Without that they couldn’t afford the $2.76. Would prefer that they were more conservative with distributions. Expensive. (He could exit in the near future.)

BUY

Acting well with the price of oil. Have some great properties in the Bakkens in Saskatchewan. Thinks the 6% dividend is safe and could grow over time.

BUY

Seasonality for energy is usually from January to May as well as from July until September. This year has performed well outside of the seasonality. Technically, chart shows resistance at around $40 which has now become support when it broke out late 2010. Stock looks really good.

COMMENT

Canadian Natural Resources (CNQ-T), Suncor (SU-T) or Crescent Point (CPG-T). Which would be the better hold in terms of better growth over the next year or two? Likes them all but CNQ would probably be the better growth story.

DON'T BUY

He is Short on this one and if he could get it a little bit higher, he would Short some more. His model price is $29.24, a negative 33.5% differential. People are attracted to cash flows but he looks at earnings. Earnings for Dec/11 (?) is $0.90 and they are paying out $2.76. Yield is unsustainable and will be cut.

BUY

Very successful and has demonstrated it’s ability to grow its production and earnings. Didn’t cut its payout when it converted to a corp indicating its conservative nature.

HOLD

Canadian Natural Resources (CNQ-T) or Crescent Point (CPG-T)? Feels oil prices will stay in the $80 to $100 range. In this case he wants to be paid to sit and wait, so Crescent Point would be his choice. If you are very bullish on oils, then Buy Canadian Natural Resources.

PAST TOP PICK

(A Top Pick March 8/10. Up 20.2%.) Still likes and thinks it still has upside. &0,000 barrels a day of production and feels they could reach 100,000. Also a takeover candidate. 6% yield.

PAST TOP PICK

(A Top Pick Jan 18/10. Up 18.95%.) Expect they’ll continue to dilute shares on expectations of oil shortages long term and want to acquire as much prospective land as possible. Long-term story. Price target is $50. 6.4% should be safe.

COMMENT

Good payout. As long as the company can manage what they’re spending versus what they’re earning, there’s no reason they can’t have a healthy payout.

HOLD

We are at the higher end of where oil should trade. Because this company has done so well, it’s kind of an IT stock in the industry and tends to have a higher valuation. You have to believe they will keep hitting the ball out of the park and oil prices will continue to go up.

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Crescent Point Energy Corp (CPG.TO)