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

Favourite oil stock, but fairly fully priced. Has been tempted to sell it, but has not. Would not buy it at this point.

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BUY

(Market Call Minute) One of the best oil and gas dividend paying companies out there. It converted from an income trust.

PAST TOP PICK

(Top Pick Apr 15/08, Down 2.95%) Going toward 2011 we will see a lot of these going back to corporations. Have good properties and he thinks they will do well.

DON'T BUY

Extremely well run mid-cap company. Did a great job of hedging in the high oil price giving it a high valuation next in their group. Will be changing to a corp at some time and thinks this is baked into the price by the market. When it comes out of the trust he wonders what valuation will be given. There is enough uncertainty that he wouldn't take the chance.

WAIT

(A Top Pick Oct 2/08. Down 9.8%.) Conversion to a corporation should be completed around May. They are holding their dividend constant even post conversion. Have a significant tax pool that will provide shelter. Expecting volatility in the market so have patience.

BUY ON WEAKNESS

Considering buying for new clients. Heavily involved in the Bakken oilfield and you pay a premium for that. (Enterprise value divided by the BOE per day.) Suncor (SU-T) is in excess of 107 and this one is close to 100. Fully priced but will become one of the premier intermediate players. $24 or $25 would be a Buy. 10.4% yield will probably be cut at some point.

TOP PICK

Light oil producer. Have been able to grow reserves by about 18% organically and through acquisition. Have lots of opportunity in the light oil Bakken region. Excellent candidate for a conversion back to a corporation because of large tax pools.

BUY

Announced they are converting back to a corp. Maintaining the distribution in the form of a dividend. One of the 1,000 lb. Gorillas in the Bakken play in Saskatchewan.

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BUY

Absolutely gorgeous. A tremendous player in the Bakkens, which is the one great shale play in North America for light, sweet crude.

BUY

Conversion to a corporation has already been built into the price of the stock. Income from trusts is a nice added benefit but he is not buying these for income. You have to realize the importance of the tar sands to the global economy. Consider them as long-term investments.

COMMENT

Just announced they are reverting to a corporation and keeping their payout the same at $.23 per unit. This will give the advantage of a dividend tax credit. Still fighting a current against them on commodity prices and until that changes, they are not going anywhere. Well-managed.

BUY

Buying Talisman’s Saskatchewan and Montana assets in conjunction with Tristar (TOG-T). Also, the change to Corp. has been very positive, as they have not chopped the distribution. One of the most solid names.

TOP PICK

Oil weighted and their big play is the light oil Bakkens in southeast Saskatchewan. 11.6% yield. Very good visibility for drilling/fracing inventory. Good consolidator.

COMMENT

Current CapX and current distribution is at 137%. Companies can't operate paying out more than they take in. With estimated oil prices for this year and next, there is no way current distributions can be maintained. Expecting a 40% distribution cut.

BUY ON WEAKNESS

One of the best quality of the oil/gas royalty trusts. Developing a field in the Bakken in South Saskatchewan. Good well production. Over distributing a bit at these commodity prices. 2 years from now as the reserves will be worth more. 13% yield.

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Crescent Point Energy Corp (CPG.TO)