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

BUY

Penn West Energy (PWT.UN-T) created a new company that is run by this management. Recently acquired part of another company using this new company and Crescent Point gets the other part.

COMMENT

Well run company that has locked on to the largest position of an oil play in southeast Saskatchewan, the Bakkens. The technology used will deliver very good finding and development costs. 8.75% yield. He has taken some profits off the table.

BUY

One of the few royalty trusts that has a very unique strategy. Primarily oil focused and is in the Bakken play in Saskatchewan. Has very little of the risks that you would see with some of the others.

TOP PICK

About 35% of its production comes from a relatively new but promising Bakken field in southeast Saskatchewan. Good growth profile.

BUY

3 good balanced and diversified energy trusts would include Arc Energy (AET.UN-T), which is evenly weighted between oil and gas, Crescent Point Energy (CPG.UN-T) at about 78% oil and a great play in Saskatchewan or Enerplus Resources (ERF.UN-T) with oil sands and exposure. All 3 are excellent value right now.

TOP PICK

Oil focused and will probably continue to be one of the top performing trusts for 2008. Have been active in acquisitions in the Bakken regions. Severely under priced. Yield is very safe.

BUY

It is possible that they could come back to a private corporation. One of the best names in the oil/gas royalty’s space. Producing out of Saskatchewan. Good management.

BUY

They have gone hard into the Bakkens in SE Saskatchewan. Recently did an acquisition of Innova Exploration, which had a very large suite of assets in this area. She believes this could add another $5 of value. She is a big fan of this company.

BUY

10% yield. Had a $24/$25 target in mind so doesn't think it goes up much further. They are in the Bakken area of southeast Saskatchewan, which is growth and avoids the Alberta royalty factor.

PAST TOP PICK

(A Top Pick Nov 3/06. Up 35.6%.) Consolidating the Bakken oil play in Saskatchewan so is 85% oil with no royalty review. Good management. Still a Buy.

BUY

Operates mainly is Saskatchewan, so not affected by the Alberta royalty issues. Predominantly an oil producer. Feels they will continue their momentum. Have nice tuck in acquisitions.

HOLD

The stock has done well lately because they are highly in Saskatchewan and highly into oil, so the Royalty will have minimal impact. Secondly, they closed the acquisition of Nova (?) It's no longer a value play because it's gone up so much, but with the dividends, he would still hold it.

BUY

Assets mainly based in Saskatchewan. Bakken is a huge resource play. Have about 200,000 acres. Recently purchased Innova (IXL-T) for a pretty hefty price but it has made them the dominant player in this 1.6 billion-resource play. Trust model is quite sustainable. Low payout ratio. 11% yield. 86% light oil.

TOP PICK

About 75% weighted to oil and focused on large pools of oil and have a good track record of increasing reserves. Limited exposure to Alberta sold the royalty review will have little effect. Have about 11.2 year reserve life index. Sustainable payout ratio of 76%.

BUY

Likes it because it is very active in the Mackin (?) oilfield in Saskatchewan. Doesn't expect it will be a takeout.

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Crescent Point Energy Corp (CPG.TO)