Opinions
Craig Porter
Torc Oil & Gas Ltd
TOG-T
TOP PICK
Jan 04, 2017
$8.400
Stock price when the opinion was issued
oil
gas
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TOP PICK
TOP PICK
A huge laggard this year. It is trailing other names at 20-30%. They have not yet reinstated dividends. They should reinstate it early next year. At current levels, the stock trades at 14% free cashflow yield. At $50-$60 oil, it trades at 30%-60% free cashflow yield for dividends and buy-backs. (Analysts’ price target is $2.46)
oil
gas
PAST TOP PICK
(A Top Pick May 15/20, Up 189%) Was taken out by Whitecap. Whitecap is now a net-negative emitter. They inject CO2 into the ground. From an ESG perspective, it is a great candidate. They are scaling up to increase market cap. Bigger you are, more radar screens you hit. Whitecap could trade at 6x which is $8.40.
oil
gas
PAST TOP PICK
(A Top Pick Jun 19/20, Up 82%) Was bought by Whitecap two months ago. Was bought at an attractive valuation. Would continue to own Whitecap.
oil
gas
PAST TOP PICK
(A Top Pick Aug 06/20, Up 78%) Was purchased by Whitecap. Was offering very meaningful upside. Still likes the management team and would support them in the future.
oil
gas
Light oil in Saskatchewan and Alberta. Good management team, which tends to under promise but over delivers. The largest shareholder is the Canada Pension Board, so in the past when they have gone to make acquisitions, the Board has usually stood behind them. Dividend yield of 2.88%. (Analysts’ price target is $10.41.)