Petro-Canada (PCA.TO)

DON'T BUY
Is one of the cheaper integrated oil companies, but doesn't see where growth will come from. Also oil sands may prove more costly then anticipated. Refining side is a plus for them, but it's still risky. 10 Analysts say buy, 8 say hold, and 2 say sell. (Hold and sell view as the same, according to Paul Harris).
BUY
Refining margins look pretty good. This sector has been under owned over the last couple of years.
TOP PICK
Has run up a fair amount recently. Likes their production profile going forward. Cashflow is going up from $7.20 to over $10
BUY
The premier integrated (after suncorp). He's more positive on PCA-T then most other experts. He likes them because they are also outside Canada.
DON'T BUY
Doesn't think it's a takeover target. Better value elsewhere, although he likes it.He likes suncore, and canadian oil sands plus.
HOLD
There is good value in Petro Canada. It's fixed a lot of it's problems. It's done a lot of what he thought it would do already.
DON'T BUY
Is the cheaper then the CNQ, Canadian National, Encana, and Tallisman, but he likes those better.
PAST TOP PICK
Then 51.25 Still likes, and lately it has been taking off. It has lots (and lots) of upside potential. It is the cheapest of the integrated oils in Canada and probably in the States as well.
COMMENT
It's a value portfolio that has a fairly good profile right now, but is unknown 2009, whereas others can give a detailed tight picture over the next 5 to 10 years.
HOLD
Had been negative on this because of so many disappointments on quarterly reports. Last quarter was one of the better ones. Outlook is now a little more bullish in terms of production. Share price moved dramatically off the bottom but the market will have to digest the news.
BUY
A good value play. Likes the integrated nature of this one. Has one of the best portfolio of assets in western Canada.
TOP PICK
Downstream refinery margins were sensational. Overall, the market was surprised on the upside of the last quarter's earnings. For a long-term investment, the valuation is compelling. Trades at a little more than 2 X Book. Feels cash flow will go up from the mid-$7 last year to over $10. Have a solid rising production profile over the next few years.
PAST TOP PICK
(A Top Pick July 21/06. Up %.) A 43% positive differential.
BUY
Finally hitting new highs. Have very strong refining and marketing business in Canada and margins are expanding. Haven't had any recent missteps. Still cheap.
HOLD
Prefers others as pure plays. Not terribly fussy about the downstream operation.
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