Trican Well Service Ltd.

TCW-T

He has owned this in the past, but not now as spending looks to be declining in the space. Supply in the space is very high. Investors are telling producers to lower spending on growing production. It is difficult to invest in a 6-9 month time window.

It is the largest fraker in Canada and has minimal debt. It has been an aggressive buyer of its own stock with free cash flow. Q4 should start to see a recovery. On tax loss selling it will probably be very attractive to own.

They have been normal course issuer bids. He has a $2.25 target. Canada has a 41% decline in rig counts. You want to own this for the cycle. Wait for a pull back.

On his top picks list. Attractive long-term. He has a $2.25 target, based on $70-80 oil. Minimal debt. Q2 won't be great. By end of year, activity levels will pick up, plus more natural gas capacity and fracking. Very cheap.

Oil field services are no longer profitable, given too much capacity in the Canadian oil patch. Write this off against your capital gains.

A turnaround opportunity. Trading below its liquidation value. Strong balance sheet, large upside recovery potential. No dividend. (Analysts’ price target is $2.13)

If there's more drilling, then this and other oil service companies will do well. Rising oil prices will help.

His dad works here. He likes it. Great balance sheet with $110 million cash.

Sales were down 47% in the last quarter and earnings down 113%. Upcoming earnings should be better, but even if it rebounds next year, you won't break even with this stock.

They have done a good job paying down debt. Free cash-flow is being used to buy back shares -- he likes that. He favours Canadian mid-caps or US Permian producers.

Has done very well since last Nov-Dec. Very cheap here. Book value is $2.80. Has a $4.50 target. Balance sheet in excellent shape. On his coverage list. A go-to name. Buy on weakness. Especially in Q2 if it goes to $1.10-1.20. When the cycle turns, it will have a lot of leverage to the upside based on pricing power and utilization rate.

It is on his action alert buy list. It has a very good balance sheet. The book value is about $2.80. Probably the largest fracker in Canada. If we see $80 oil they will be a very big beneficiary. His target is $4.50 in 12 months.

It collapsed in 2015. They sold off their US division. Their balance sheet is much stronger now. They are the largest pressure pumper in Canada. You can buy it today at less than liquidation value. (Analysts’ price target is $2.04)

It is on his action alert list. It is very cheap. They reported Q4 results. Book is $3.80. They are doing a lot of share buybacks. They are in the fracking business, which is tough and competitive. Book value is $2.80. 2020 should be much better. His target is $4.50. It is very cheap. The balance sheet is strong.

(A Top Pick Feb 09/18, Down 57%) He sold them out at $3.50 back in April or May last year. Oil was at $60 and cash flow was growing. He liked this pressure pumper then. But now natural gas prices have gone to zero and condensate discounts have expanded. The whole service sector was decimated.