Delphi Energy Corp. (DEE.TO) Buy, Sell or Hold

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Delphi Energy Corp. (DEE.TO)

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0.35

-0.00 (0.00%)

as of May 21, 2020, 8:00:00 pm Market Open.

59 watching

DON'T BUY

Junior oil/gas producer with a gas weighting. Extremely cheap at about 1.5X cash flow and about 2.5X 09 cash flow. The general environment for natural gas really skews you to the top tier names so stay with the bigger names until the market changes its views on juniors..

TOP PICK

87% natural gas. Just reported 3rd quarter of 6400 BOE's a day and are now at 7000. Did $0.24 in the quarter ($0.96 annual cash flow). Expect them to grow to 8000 next year, which could create cash flow of $1.20. NAV is over three dollars a share. About $90 million of debt on $140 million line. Cash flow this year might be $70 million.

BUY

Now trading at less than 2X cash flow. Good buy right now.

BUY

(Market Call Minute.) He loves it. It beat his numbers in the 2nd quarter. Thinks there will be 7000 BOE's a day by the end of this year. Balance sheet is in great shape.

TOP PICK

Just announced an acquisition of natural gas assets of 6500 BOEs a day. This makes their total numbers averaging 6600, which will rise to 8000 next year. Doing about $1 annualized cash flow and he sees $1.30 next year. Inordinately cheap.

BUY

16% oil and 84% natural gas. 6056 BOE’s a day in Q1 and looking for 6400 average for 2008. $90 million of debt, which the company plans to pay down.

BUY

Turnaround story. Management did a spectacular job in getting out of an over leveraged balance sheet, doing some swaps on assets and managing to grow the production base without spending all of their cash flow. 6000 BOE's a day of gas is less than 1.5 debt to forward cash flow. Great growth profile. Good Buy in even the $3 range for a long-term hold.

PAST TOP PICK

(A Top Pick Dec 5/07. Up 22%.)Very gas weighted. Still buying. If you see at approaching $3.00, consider Selling. The suite of assets they have are trading at very cheap multiples.

STRONG BUY

Natural gas. He is positive on this story. Thinks the company will ramp up production. Currently around 5600 BOE's a day and think it will average about 6400 a day and potentially exit the year at 7000.

TOP PICK

Natural gas. Exited the year at over 5880 cities and he sees them doing over 6100/6200 BOE’s and exiting the year at 7000. Generates cash flow of $1.20, so is trading at under 2X cash flow. NAV is about $2.85.

BUY ON WEAKNESS

Had about a 30% moved in the last few weeks so there is some potential for a pullback. Would prefer to buy it closer to $2.

STRONG BUY

In Q3 they grew their production to 5700 BOE's up from 5090 in Q3 of 06. By the end of 2008 they should be producing more than 7000 BOE’s. NAV is $2.85 to the end of 07.

TOP PICK

Not very well covered by research. Feels NAV is closer to $3. Trading at less than 2X cash flow. Just made a strategic swap of assets and should give them even better success than their previous assets. Feels they have their debt under control.

BUY

83% natural gas, 17% liquids. Did about 5379 BOE's in Q2, up from 4300 in Q1. Expect them to average 6500 BOE's a day in 2008 and exiting at over 7000. Debt of $110 million, about 2.5X relative to cash flow. A little harsh when you have a cheap natural g

TOP PICK

In Natural Gas, but they had a balance sheet problem. They think they've clean up their act. A lot of upside in terms of land and other core areas. It was a 4 or 5 dollar target a few years ago, he thinks it will get back there.

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Delphi Energy Corp. (DEE.TO)