Pengrowth Energy (PGF.TO) Buy, Sell or Hold

Pengrowth Energy (PGF.TO)

0.06

-0.00 (0.00%)

as of Jan 9, 2020, 9:00:00 pm Market Open.

120 watching

COMMENT

Someone gassy, so will respond to gas seasonality. Currently it seems to be trying to form a base level and there is no signs of seasonality yet. If the lows hold look for it to have a nice trade close to the $13 level. Short-term trade of about 2 months.

PAST TOP PICK

(Top Pick Aug 17/10, Up 16.72%) One concerns is can they maintain the distribution. Has never been sure. Nat Gas prices have not gone up. They have a hedging program that sometimes costs them a fortune. Tremendous upside potential. He doesn’t like their debt levels.

BUY

Pengrowth is getting to interesting levels. A lot of these companies are getting into ranges where they are beginning to get attractive. Attractive yield. A bit of miss last quarter but you can’t read much into that. One he has been looking into recently.

DON'T BUY

Looked at it a number of times but there are better opportunities. Descent yield. Would like to see dividend growth. Properties are not that great as far as he is concerned.

BUY

Bought into this one when they had a management change. It has been a transitional period for them and there is more to come, but he likes what they are doing. Have some pretty solid hedges in place. Great tax pools. Positioning their asset base for long term development. Particularly likes what they are doing in Swan Hills.

DON'T BUY

Payout ratio is pretty low so thinks the 6.4% dividend is safe. Would rather own Crescent Point (CPG-T) where you are getting a 3%-4% production growth and effectively the same yield. Also has a better suite of assets.

COMMENT

Good company. New management about 18 months ago. Straightening out some of the mess. Good management. A little concerned about possible cost over runs and operational issues on their SAGD project in Lindburg. 6% yield.

BUY

Good story. Haven’t grown production but has a very good yield of about 6%. Beat most cash flow estimates last quarter. Gas price has been lagging so feels this is the bottom for gas prices.

PAST TOP PICK

(Top Pick Mar 1/10, Up 20.60%) He scaled back on the position. Great management team. They had some problems but now they are back online.

PAST TOP PICK

(A Top Pick Feb 23/10. Up 24.17%.)

PAST TOP PICK

(A Top Pick Jan 13/10. Up 23.73%.) Well positioned with much potential for different resources in the western Canadian basin. Have a lot of work to do. Looks like it is starting to head up. She has been selling a little recently because she had a good gain and in moving into other names.

BUY

Cash flow will continue so it’s a great Hold. They are growing reserves but it’s not going to be that much to the bottom line because it’s a very big company. You will get the leverage on the price of oil.

TOP PICK

Going through a major change. No longer an income trust and did substantial reduction to their debt. Diversifying their assets. Good tax pools so won’t be paying taxes for several years. Yield of 6.95%.

COMMENT

In transition so you do have to have a 2 to 3 year horizon. New management is moving to a growth focus so the market is in a “wait and see” mode. Expects it will work out well but you will have to be patient.

HOLD

Pretty decent performer over the last year or so, but doesn’t see a tremendous number of catalysts on the horizon.

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Pengrowth Energy (PGF.TO)