Petro-Canada (PCA.TO)

WEAK BUY
Looks pretty good. One of the weaker names of the ones he looks at. Would prefer Encana (ECA-T), Talisman (TLM-T) or Imperial Oil (IMO-T).
TOP PICK
A great company and it's really starting to click. The multiple on it dropped dramatically and the stock reacted. They raised the dividend and are going to split the stock. Production is up. All that's needed now is to get the McKenzie pipeline going and they'll do very well.
BUY
Had an incredible run. Of all the integrateds, it's growing at the fastest rate. Has several catalysts for growth. On a relative basis, it's not that expensive.
TOP PICK
Has lagged all the other major oil companies around the world. Had a few quarters where they missed some earnings and had some production misses. Has been playing catch up and is still much cheaper than all the other guys.
TOP PICK
Even though it's hit a new high, it's still the cheapest of the integrateds on a pure multiple basis. It has the McKenzie pipeline in the background. Have a lot of land up in the McKenzie Delta which will be a big money maker in the long run. Has a dividend.
TOP PICK
Most energy stocks are fairly valued in the E & P companies, but this one hasn't gone up nearly as much as the others. More of a defensive oil with their refineries and retail. Feels that production will be up next year by about 5% and 10% the following year.
BUY
His top pick in the integrated oils. The lowest priced on earnings and cash flow. Have made some valuable moves, and the market is starting to recognized them. Being in an oil sands plant in Fort McMurray has added a lot of oomph to future reserves and production. A stock split is highly possible.
PAST TOP PICK
(A Top Pick Apr 28/05. Up 16%.) Still likes.
TOP PICK
(A Top Pick Mar 30/05. Up 19%.) A really good portfolio stock to hold. There are a lot of catalysts over the next 10 years. Very reasonably priced. Trading at about 7.8 X EPS and about 3.6 X EBITDA.
BUY ON WEAKNESS
The oil field is very tricky right now given what's happened to the price of oil. A great company and the cheapest on relative valuation. Under a bit of a cloud as it's production outlook is not as good as others. If you buy oils here and now, be prepared for some volatility.
BUY ON WEAKNESS
Likes it, but his buy point would be in the $60's.
TOP PICK
Was kind of dragging its butt in the market compared to the index. Was running up hard against its old valuation high which was twice book and has now made its breakout. Compared to Imperial Oil (IMO-T) at 5 X book and Shell (SHC-T) at 4 X book, it's an absolute steal.
TOP PICK
(A Top Pick March 10/05. Up 11%.) Still cheap. If the McKenzie pipeline ever gets off the ground, it would be worth 5/10 points on the stock.
BUY
Just hit a 52 week high. Not growing its production as fast as some of the other companies, but for conservative accounts wanting exposure to energy a good core holding.
PAST TOP PICK
(A Top Pick Mar 22/05. Up 2%.) Looks like oils are going to start to make new highs. Keep holding if you own it.
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