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

WAIT

A classic energy stock and does very well usually from beginning of Jan through until May. Wait until January to seethe stock come down. There will be an opportunity in late Jan, early Feb.

BUY

Now trying to grow through the drill bit rather than acquisition, which makes more sense. Price is already reflecting the cut in distributions. Looking for an increase in unit/share price.

PAST TOP PICK

(A Top Pick Nov 18/09. Up 39.26%.)

BUY

Distribution is reasonably safe. Risk near term is that they are in transition moving to more of a growth model. New CEO has a great reputation. Have cut costs. Latest quarter was very good.

PAST TOP PICK

(Top Pick Nov 3/09, Up 25.25)

BUY

About 50/50 oil and gas. Well run. $.84 dividend and expect they will keep this after they convert because they have enough tax pools to last them several years.

WEAK BUY

Lots of land. Pays a decent dividend. Some good growth in front of them. Lagged their peers who have gone into horizontal drilling and fracing. Not a screaming buy, but a name you could hold.

TOP PICK

Have a couple of great carbonate plays at Beaver Hill Lake and Swan Hills region that the market doesn't fully appreciate.

BUY

Would recommend if you are looking 3-5 years out. They have some great properties. Just starting to apply horizontal drilling. Thinks we will have a bull market in commodities next year in the second quarter. Buy a trust for the yield while you wait. Would recommend AET over this one.

BUY

Has a substantial position. Likes the transition in management. Company is being transitioned to a new business model. What likes about it is that it has a really good asset base. Distribution can be maintained barring a drop in commodity prices.

TOP PICK

Part of strategy to get instantaneous returns. Better than 100% upside. 8.4%, but 40% payout ratio. Lots of upside. Too much debt and they keep on releasing more units. Hopefully they stop introducing new units and start making money.

COMMENT

Feels 8.4% distribution is safe. Have huge tax pools so when they convert they won't be taxable immediately. Putting a lot of money into an exploration program to get their production up. If they do that you could see the low or mid teens in 1-1.5 years.

HOLD

In anticipation of the conversion to a corp. so they 8.3% yield is probably sustainable. Expect they have a lot of tax pools to shelter them. Well run company with a lot of drilling opportunities ahead. Pretty much 50/50 oil and gas.

COMMENT

Pengrowth Energy (PGF.UN-T) or Peyto Energy Trust (PEY.UN-T)? 8% yield, which is to continue next year. Both are gas weighted but Peyto has a better set of land and has been demonstrably better in proving up value over time. Pengrowth has a resource base that they have yet to prove up and develop. Prefers Peyto.

WEAK BUY

About 50/50 split between oil and gas. Distribution is now at a level where it is sustainable. In unconventional but long life assets. Have a lot of drilling opportunities ahead of them.

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Pengrowth Energy (PGF.TO)