Petro-Canada (PCA.TO) Buy, Sell or Hold

Petro-Canada (PCA.TO)

0.00

-0.00 (0.00%)

33 watching

DON'T BUY

An OK company but not a huge catalyst for upside. Better names are Suncor (SU-T), Encana (ECA-T) and possibly Canadian Natural (CNQ-T).

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COMMENT

Will run into resistance at the $36 level. If it can break through there in the next couple of months, $46 would probably be the next resistance point. Doesn't think oil or this stock will have any major moves. Sell if it drops below $28.

TOP PICK

An asset rich company. Cash flow should be around $13 or more over the next couple of years. An absolute bargain at this price. Likes that they have deferred the Foothills project.

PAST TOP PICK

(A Top Pick Dec 20/07. Down 49%.) A real surprise to him. Was the cheapest oil and he thought an integrated would have more support. Fort Hills is going to be put on the shelf for a while. Would be inclined to nibble away at this price.

BUY

Has been a terrible performing stock. Pinned a lot of their growth strategy on the oil sands and this is uneconomic right now. Long-term, you'll look back and say this was a screaming buying time.

DON'T BUY

After disappointing for a while, came through with some nice numbers. Not adding to his holdings at this time.

HOLD

Has dropped along with the commodity. Had some production and management issues in the past but even so, a very cheap stock.

COMMENT

Of the biggest players in the industry, this would be his favourite. Broadly diversified. Very cheap on a cash flow basis. Energy prices may continue to come down.

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COMMENT

Prefers Suncor (SU-T), which is a better operator. Good value at current levels, but thinks Suncor is better.

HOLD

This would not be his top pick. Has always been cheap but continues to disappoint. There are better names you could go to.

DON'T BUY

Considers this as a value trap. Always looks cheap on paper but has disappointed from an operational point of view. Would prefer an oil sands play to their Fort Hills project.

WAIT

Trying to bottom. Very strong seasonal characteristics. Tends to go up in February and down in May every year. Energy sector will do OK in the recovery of the markets but not his favourite sector right now. Wait until the end of January, beginning in February. Energy stocks will do okay but prefers other sectors.

DON'T BUY

Doesn't really like this stock. Where other oil stocks have done well, this one has not. Very limited amount of growth.

TOP PICK

At current price the multiple is very low, trading at far less than book price. Predominant player. Good blend of everything,

DON'T BUY

Stories that they may walk away from Fort Hills project, where costs doubled. Would not touch this.

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Petro-Canada (PCA.TO)