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

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Daily Stock Opinions and Ratings

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

DON'T BUY

It is fully valued. Phenomenal management team. Prefers PBN.

SELL ON STRENGTH

Classic seasonality from end of November until May. Technical have turned negative. Sock is coming under pressure. You have two more weeks.

BUY ON WEAKNESS

Petrobakken (PBN-T) or Crescent Point (CPG-T)? Crescent Point has better management team and is a better producer but is fully priced. Experimenting with some water flooding which has the potential of doubling reserves. Petrobakken is cheap but had very disappointing production and haven't had the growth. An alternative would be Petrobank (PBG-T) that has better growth and leverage to heavy oil.

BUY ON WEAKNESS

Heavy in oil. Terrific assets of Saskatchewan oil. The valuation seems a little pricey – waiting for a 10% correction.

BUY

One of the premier management teams. Core position in the Bakken play. About 7% dividend. Expects material growth going forward with double-digit total returns. Acquiring Shelter Bay. Long-term hold.

STRONG BUY

Expect the dividend will be maintained but not increased. Have done a bunch of acquisitions including Shelter Bay. Probably 5000 locations to drill in the Bakken over the next few years. Pilot tested a water flood successfully, which increases the recovery.

BUY ON WEAKNESS

Just acquired Shelter Bay assets so they will be a dominant producer in Saskatchewan. Have a good valuation in the marketplace. Would like to see it at $38. Over 6.5% dividend.

TOP PICK

Likes oil over natural gas. At $75-$80 oil they are making a lot of money. The major player in the Bakken area. Water flood pilot projects are being tested, which could add another level of growth to their production.

TOP PICK

Likes mid-to large sized domestic oil companies that are using new technology. Predominantly light oil. Probably have 5000 targets to drill in the Bakken. More expensive but very strong underlying fundamentals. Good yield.

BUY

Petrobakken (PBN-T) or Crescent Point (CPG-T)? He prefers this one. (See comments under PBN-T for Petrobakken.) Have a pilot program on for water flood in their Viewfield Bakken and are looking to do a 2nd and 3rd pilot. Talking of bringing recoveries up to 30%.

TOP PICK

87% oil. This was a trust and they carried the yield (almost 7%) over when they converted. A primary developer in the Bakken field. Have a huge land spread.

BUY

One of the few companies that have gone from being a trust to a corporation and still have it high payout with a promise that as the earnings do better to build the payout.

HOLD

One of the leading companies in the shale oil play in the Bakken region.

WAIT

Doesn’t know of any takeover prospects to cause recent climb. Crude has improved an eco0nomy has improved. Buy at $40 or just under.

DON'T BUY

(Market Call Minute.) Exposed to the Bakken play. Good company but too expensive.

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Crescent Point Energy Corp (CPG.TO)