
TSE:WCP
He doesn’t think OPEC is as much a factor on energy prices anymore. The bigger issue is the shale production in the US. They haven’t really been incentived to pull back that much. This company has a good balance sheet and has shown some decent growth. Also, has a decent yield. He recently added this.
A light oil weighted company. They have been very acquisitive over the last number of years and have done a very good job of buying assets and extracting value from them. Have a very disciplined program of managing the balance sheet, and have established themselves as the preeminent dividend paying company. Very moderate decline weight as well.
Very strong management team. Even though a new dividend payer in 2012, they have actually been able to increase the dividends 3 times and have never cut it. Even in this environment, where they are facing the biggest test in terms of the commodity downside, they still are not cutting the dividend. They have a free cash flow in the current commodity price environment, which is incredible. Dividend yield of 5.40%.
(A Top Pick June 12/14. Down 9.95%.) Excellent management. They are hedged pretty well for both this year and next. Debt levels are good relative to their peers. Low payout ratios. He sold most of his holdings last year. This is a fine play to hold.