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

TOP PICK

(A Top Pick Aug 14/08. Up 0.65%.) Converted to a corporation but maintain distributions and have $2.2 billion of tax pools for protection. 1700 drilling opportunities that should last a number of years and we should see production increases.

PAST TOP PICK

(A Top Pick Nov 13/08. Up 44.66%.) Just converted to a corporation but with no change in dividend. Should be a core name in your portfolio but wait for a pullback before Buying.

TOP PICK

Probably one of the purest oil plays in Canada focusing on the Bakken field and Shawnavaugn (?) in Saskatchewan. Zone may extend south into the US. Have 900 million in tax pools so the yield of 8.1% should be sustainable until 2012-2013.

BUY ON WEAKNESS

His favourite energy holding. Since converting from a trust there are no longer any restraints on growth. Dominant player in the Bakken in southern Saskatchewan, which is the best light oil field. Skilled management. Will probably get taken out by one of the majors. Yield of 7.89%. Try to get in at $32-$33 but this price is still OK.

BUY

Probably the #1 oil operator in the Bakken space. Very high net back oil production. Probably sustainable down to $40US per barrel. 8.2% dividend is still safe.

TOP PICK

(A Top Pick Aug 7/08. Down 6.3.) Converted from an income trust to a Corp and pays a dividend. Likes the play in the Bakken oilfields Southeast Saskatchewan. Positive on oil and thinks it could average $80 in 2010.

BUY

Became incorporated. Formerly Crescent Point Energy Trust (CPG.UN-T). One of the best managed energy companies. Did not reduce its payout. One of the strongest performers amongst the energy trusts because it did not cut its distribution. Good management.

BUY

About 85% production comes from southwest Saskatchewan Bakken play. Acquired companies with tax pools. Converting to a Corp. now as they see good opportunities in front of them. Very conservatively run.

BUY

Crescent Point Energy (CPG.UN-T) or Husky (HSE-T)? Likes both companies but his preference would be Crescent Point because of the cash flow they are paying. Have great management and great property. Both of them will do very well on a long-term basis.

BUY ON WEAKNESS

Will probably get approval this week to convert to a corporation. Acquired 2 companies, Wild River and Gibraltar and the tax pools will allow them to pay distributions until 2011/2012. Their Bakken is one of the best resource plays in North America. Expecting it to pull back with most oil stocks and then going up to $35-$36. $30-$31 would be a very good entry point.

HOLD

80% oil and is in the Bakken play. Incorporating next week. This is one of the better managed trusts. Good management team.

BUY ON WEAKNESS

(Market Call Minute.) Great company and well run. At this price, he would let a pull back a bit.

PAST TOP PICK

(A Top Pick Oct 2/08. Up 10%.) Great position in the Bakken oil play. Made a number of acquisitions to consolidate their position of long-life oil. Less than 10% is natural gas. Has had a pretty good run so would be a little patient about buying at this time but on a long term basis it's a great place to be.

DON'T BUY

Extremely well run company. Slightly more expensively than the rest of the group because it was actively hedged in the sector. The problem now is what are commodity prices going to be as they come off their hedges. Would prefer Progress Energy (PRQ-T).

COMMENT

Oil weighted so it will benefit from the rebound in oil prices. Consolidating 2 plays in South Saskatchewan and have reached a point where they are forced to convert to a corporation. Keeping dividends at the old distribution level.

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Crescent Point Energy Corp (CPG.TO)