Daily Stock Opinions and Ratings

Opinions

Josef Schachter Pipestone Energy Corp. PIPE-T WAIT Jan 24, 2020

They are in the Montney region. They announced that a facility would be down for a few weeks and the share price has been hit temporarily. The stock is cheap, but he needs to see more data about new production first. Q1 results come out in May.

Josef Schachter

Unlock Rating

$1.470

Stock price when the opinion was issued

Energy

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BUY

A great small cap producer. Trading at a slight discount to competitors. Gives you good access to what will be consolidated. Could be an M&A target.

WATCH

A mini Nuvista. Doing infrastructure and delineation right now. Owns a small amount. The sellers have been non-commital and now there is an overhang. Trading at 27% free cashflow yield in 2023. Less liquidity than Nuvista.

BUY

Believes company is under valued with strong free cash flow yield. Stock very tightly held, so hard to buy meaningful amounts.

BUY

Has recently bought ~$50 million worth of stock. Trading at ~1.7x cash flow & 32% free cash flow yield($100 oil). Could privatize in ~3 years. Very good company with enormous upside.

BUY

Owns 7% of company shares. Remains committed to company. Company has 19% free cash flow yield, and is trading at 2.5x free cash flow yield. Share price should appreciate 60% or 4-5x. Expecting company to be bought be someone.

HOLD

Recent market selloff due to quality of acreage. Current share price presenting good buying opportunity (1x cash flow). Expecting stock buybacks next year. Low conviction on the name.

HOLD

Good company to invest in, but better names out there.
Has sold shares in company.
Recent attempt to sell company didn't have success.
Lots of gas in production (bearish on gas prices).

DON'T BUY

Suffering because of weak gas prices. Doesn't have the advantage of marketing power of the bigger names to get egress out of Canada. Doesn't offer the yield or balance sheet protection that he prefers. He goes for a yield around 6-7%, which also gives durability to the yield. Yield is 4.7%.

DON'T BUY

Motley name, he wouldn't own. Tightly held by private equity. Disappointing wells. Cheap valuation. Only hope for stock to go up is for company to be bought. He can buy something with better quality, longer inventory, but equal valuation.

DON'T BUY

Better names in market.
Will face issue of paper sellers with recent sale.
Shares not cheap enough.

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Josef Schachter Pipestone Energy Corp. PIPE-T WAIT Jan 24, 2020

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