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

(Market Call Minute.) Expensive but is still a Buy. Waterflood is a game changer for them if they get it working in the Bakken.

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COMMENT

Great fracturing technology that makes it one of the lowest costs in North America. Good yield. 99% success in the Bakken field last quarter. Not generating enough cash flow to fund their CapX and dividends. Expect there will be an equity issue over the next 12-18 months. With a medium to longer term time frame and can take some volatility you could Buy here.

PAST TOP PICK

(A Top Pick Nov 2/09. Up 17.46%.) Still a Buy

PAST TOP PICK

(A Top Pick Oct 30/09. Up 18.86%.) Still Likes.

BUY

Flattened out recently because they made a couple of acquisitions and issued equity to pay for them, which tends to dampen performance. Have 5 years of possible drilling locations. Looks like the pilot water flood program on their Bakken is going to work.

SELL

Sell immediately. Not a big fan. Model $24.40 and he is short it. Earnings will come in $.61 this year. People are going crazy for yield, but he is the lone voice. The numbers don’t add up. People point to cash flow but it is the earnings that matter.

DON'T BUY

Terrific company in right asset – oil. They over pay for their acquisitions and he prefers companies trading at cheaper valuations. Takeover target – can’t see it because price of cash flow is too high.

BUY

Crescent Point (CPG-T) or Trans Canada (TRP-T)? As a conservative investor, he would pick Trans Canada as a core holding. Yielding 7%. Has a large payout and thinks they will maintain it.

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DON'T BUY

It is an expensive and popular stock, but he thinks it is a little too expensive and so he prefers others.

HOLD

Yield is excellent, good company. Had a good run over the last 3 months.

TOP PICK

(A Top Pick Oct 30/09. Up 6.9%.) Only drawback is that they issue shares and dilute themselves. Good operators and good technology. Dominate the Bakkens in Saskatchewan. Very oily.

PAST TOP PICK

(Top Pick Nov 2/09, Up 15%) The recent land deal was interesting. It was in wild catting territory (unproved). Picked up some production which should cover the costs of the acquisition

BUY

Oil/gas. Good yield of 7.2%. Has growth.

TOP PICK

Oily Bakken and Shaunavon plays in southeast Saskatchewan. Probably the single best drilling prospector with 10 years of drilling. Still has a decent yield from when it was a trust. Getting 10% cheaper since stock price dropped.

TOP PICK

Lowest decline rate of the producers in Western Canada. 7.25% dividend which Is sustainable. Light sweet crude in the Bakkens is the most attractive play in Western Canada. Have over 2000 prospective well sites to drill. Thinks they will reach 100,000 barrels and then be taken out.

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Crescent Point Energy Corp (CPG.TO)