Crescent Point Energy Corp (CPG-T) Stock Predictions - Stockchase
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Crescent Point Energy Corp (CPG-T)

ON STOCKCHASE SINCE Jan 2004

oil/gas

Crescent Point Energy Cor...

CPG-T

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Crescent Point Energy Corp (CPG-T) SAVE Apr, 25, 2019, 12:58 am

5.56 0.33 (5.6%)

About Crescent Point Energy Corp (CPG-T)

Crescent Point Energy Corp. is an oil and gas company based in Calgary, Alberta, Canada and Denver, Colorado, United States. The company focuses primarily on light oil production in southern Saskatchewan and the Uinta basin in Utah. More at Wikipedia

What the experts are saying about CPG-T



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Signal Opinion Expert
DON'T BUY
He's researched this a lot. He's disappointed with all its write-offs and he's very negative about this. The market still doesn't like some things on its balance sheet. This isn't ready to return to highs yet--but he'll keep his eye on it.
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He's researched this a lot. He's disappointed with all its write-offs and he's very negative about this. The market still doesn't like some things on its balance sheet. This isn't ready to return to highs yet--but he'll keep his eye on it.
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Brian Acker, CA

Chief Exec, Acker Finley Inc....

Price Price
$5.890
Owned Owned
Unknown

BUY on WEAKNESS
Why do they have to sell assets? Debt is 65% debt to equity. Cut the dividend. Want to pay down debt by about 1B. In the doghouse right now. Leadership is a question mark, as well as what's a core asset. It's had a bounce, up about 50%. Fabulous recovery. Stocks will cool off in Q2, but will come back in Q4. Dips are windows to buy. Numbers are cheap based on cash flow, but the problem is the debt. May be of interest if it gets below $4.50.
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Why do they have to sell assets? Debt is 65% debt to equity. Cut the dividend. Want to pay down debt by about 1B. In the doghouse right now. Leadership is a question mark, as well as what's a core asset. It's had a bounce, up about 50%. Fabulous recovery. Stocks will cool off in Q2, but will come back in Q4. Dips are windows to buy. Numbers are cheap based on cash flow, but the problem is the debt. May be of interest if it gets below $4.50.
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Josef Schachter

President, Schachter Asset Mana...

Price Price
$5.480
Owned Owned
Yes

SPECULATIVE BUY
He's owned this in the past and likes the management. He likes the changes they are making. But with a 1% dividend, you're looking at only equity growth. Now is a good entry point, but he wants to see light at the end of the energy tunnel--which he doesn't see first. He has a $7 buy on this as a speculative buy. He likes it.
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He's owned this in the past and likes the management. He likes the changes they are making. But with a 1% dividend, you're looking at only equity growth. Now is a good entry point, but he wants to see light at the end of the energy tunnel--which he doesn't see first. He has a $7 buy on this as a speculative buy. He likes it.
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Jaime Carrasco

Portfolio , Canaccord Genuity...

Price Price
$5.480
Owned Owned
No

WAIT
She owns little Canadian oil in general. The past week oil stocks have recovered to reflect WCS prices rise. Some money has flowed back. She hasn't committed more money in this space yet. Wants to see what global oil will do for the balance of 2019.
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She owns little Canadian oil in general. The past week oil stocks have recovered to reflect WCS prices rise. Some money has flowed back. She hasn't committed more money in this space yet. Wants to see what global oil will do for the balance of 2019.
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Christine Poole

CEO & Mana, GlobeInvest Capital ...

Price Price
$5.360
Owned Owned
Unknown

BUY
It's been in a long downtrend. Since February though it's been upward. He sees anupside target of $6. If it breaks that, then he targets $10. It looks constructive here with possibly higher highs and higher lows.. Though it's not a sector leader, it looks positive.
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It's been in a long downtrend. Since February though it's been upward. He sees anupside target of $6. If it breaks that, then he targets $10. It looks constructive here with possibly higher highs and higher lows.. Though it's not a sector leader, it looks positive.
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Javed Mirza

Technical , Canaccord Genuity ...

Price Price
$5.020
Owned Owned
Unknown

HOLD
He bought in back in February around $4.
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He bought in back in February around $4.
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Jeff Parent B.

VP & Portf, Castlemoore Inc....

Price Price
$4.440
Owned Owned
Yes

BUY on WEAKNESS
They had a dividend that got reduced. Income investors sold and sent it down. They have 65% debt. They need to sell about $20k in assets. They are doing an issue of more stock. The stock has retreated since. He owns it and thinks it is cheap. They should have sold their crown jewels to get back on track.
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They had a dividend that got reduced. Income investors sold and sent it down. They have 65% debt. They need to sell about $20k in assets. They are doing an issue of more stock. The stock has retreated since. He owns it and thinks it is cheap. They should have sold their crown jewels to get back on track.
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Josef Schachter

President, Schachter Asset Mana...

Price Price
$4.290
Owned Owned
Yes

COMMENT
Obviously, it's a tough sector that's fallen at least 50%. CPG should be worth more than what it's trading at. CPG is starting to do a better job and no longer issuing shares. Rather, they're buying back shares. Until this sector takes off, CPG won't make a huge move either. He doesn't think the oil space will change much in the near future.
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Obviously, it's a tough sector that's fallen at least 50%. CPG should be worth more than what it's trading at. CPG is starting to do a better job and no longer issuing shares. Rather, they're buying back shares. Until this sector takes off, CPG won't make a huge move either. He doesn't think the oil space will change much in the near future.
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Cole Kachur

Senior Wea, ScotiaWealth Managem...

Price Price
$4.250
Owned Owned
Unknown

DON'T BUY
A market darling for a few years. When things went difficult in the oil patch they didn't react fast enough. They are still a big oil producer. There is a lot of uncertainty in that regard. A $100 oil seems to be a far away dream now. Stable but what is the catalyst for this to go higher? He doesn't know.
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A market darling for a few years. When things went difficult in the oil patch they didn't react fast enough. They are still a big oil producer. There is a lot of uncertainty in that regard. A $100 oil seems to be a far away dream now. Stable but what is the catalyst for this to go higher? He doesn't know.
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Chris Stuchberr

Portfolio , Wellington-Altus Pri...

Price Price
$3.990
Owned Owned
Unknown

DON'T BUY
He once owned it. They were good at growing assets and production, but they issued a lot of equity to do this. When oil prices rolled over, CPG got hurt; their debt levels went through the roof and got into a bind. New management is selling assets and cutting the dividend to deal with this problem. It'll be a struggle for them for a while. They have more assets they can sell, but buyers think they can get them cheaper.
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He once owned it. They were good at growing assets and production, but they issued a lot of equity to do this. When oil prices rolled over, CPG got hurt; their debt levels went through the roof and got into a bind. New management is selling assets and cutting the dividend to deal with this problem. It'll be a struggle for them for a while. They have more assets they can sell, but buyers think they can get them cheaper.
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Douglas Kee

Chief Inve, Leon Frazer & Associ...

Price Price
$4.070
Owned Owned
No

SELL
They reduced their dividend down to a penny. Ask yourself where the stock is going next, not where it has come from. It is hard to make a case for a high degree of upside. Their production has been shrinking. See his top picks today for one that can go back up again.
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They reduced their dividend down to a penny. Ask yourself where the stock is going next, not where it has come from. It is hard to make a case for a high degree of upside. Their production has been shrinking. See his top picks today for one that can go back up again.
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Teal Linde

Portfolio , Linde Equity Report...

Price Price
$3.970
Owned Owned
Unknown

BUY
Their asset write down was meaningless. Their reserves did not change which is what he cares about. They will generate $400M free cashflow. The stock is trading below their blowdown value. They are doing the right thing by slowing down the drilling and buying back stock. Management are doing the right thing.
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Their asset write down was meaningless. Their reserves did not change which is what he cares about. They will generate $400M free cashflow. The stock is trading below their blowdown value. They are doing the right thing by slowing down the drilling and buying back stock. Management are doing the right thing.
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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$4.040
Owned Owned
Unknown

COMMENT
The Canadian Oil and Gas sector is seriously oversold. Many of the wounds of the sector are self-imposed. He is warming up to the Canadian names as he thinks that the current political madness in Canada won't last much longer.
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The Canadian Oil and Gas sector is seriously oversold. Many of the wounds of the sector are self-imposed. He is warming up to the Canadian names as he thinks that the current political madness in Canada won't last much longer.
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Rick Rule

Pres. & C, Sprott USA...

Price Price
$4.080
Owned Owned
No

HOLD
They reduced the dividend and turned off yield investors so the stock price dropped. They are buying back stock from the savings on the dividend. He thinks this is a mistake. The insiders are buying. He likes it when he sees this.
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They reduced the dividend and turned off yield investors so the stock price dropped. They are buying back stock from the savings on the dividend. He thinks this is a mistake. The insiders are buying. He likes it when he sees this.
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Josef Schachter

President, Schachter Asset Mana...

Price Price
$4.250
Owned Owned
No

DON'T BUY
For a second time this year the dividend has been cut. He does not own it today. He wants to see sustainability of production before getting back in. They have lost the confidence of the investor base. Without the dividend or credibility from management there is no reason to hold this.
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For a second time this year the dividend has been cut. He does not own it today. He wants to see sustainability of production before getting back in. They have lost the confidence of the investor base. Without the dividend or credibility from management there is no reason to hold this.
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Ryan Bushell

President, Newhaven Asset Manag...

Price Price
$4.300
Owned Owned
No

DON'T BUY
Dividend safe? Disappointing. The dividend used to be safe. He's owned it in the past.
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Dividend safe? Disappointing. The dividend used to be safe. He's owned it in the past.
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Andrew Pyle

Senior wea, The Pyle Group, Scot...

Price Price
$3.980
Owned Owned
No

DON'T BUY
Not much to say beyond a downtrend with no sign of a base. He wouldn't touch it.
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Not much to say beyond a downtrend with no sign of a base. He wouldn't touch it.
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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$3.950
Owned Owned
Unknown

DON'T BUY

He would not buy it at this point. He has been short for a few years. It has fallen too far too fast. It has too much cash and not enough cash flow.

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He would not buy it at this point. He has been short for a few years. It has fallen too far too fast. It has too much cash and not enough cash flow.

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Jason Mann

CIO & Co-F, Edgehill Patners...

Price Price
$3.740
Owned Owned
Yes

COMMENT
If you believe the analysts, CPG will make 33 cents in the next year which is interesting upside. His fair market value for CPG is $9. Its balance sheet is falling. It had a nice earnings rally but is dropping again. How good are their earnings forecast? This could be part of a serious rally of 100-200%. Maybe, if something interesting happens in oil. These oil stocks are so cheap. He can't advise whether to bail on this stock, but also miracles happen.
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If you believe the analysts, CPG will make 33 cents in the next year which is interesting upside. His fair market value for CPG is $9. Its balance sheet is falling. It had a nice earnings rally but is dropping again. How good are their earnings forecast? This could be part of a serious rally of 100-200%. Maybe, if something interesting happens in oil. These oil stocks are so cheap. He can't advise whether to bail on this stock, but also miracles happen.
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Ross Healy

Chairman, Strategic Analysis C...

Price Price
$3.260
Owned Owned
Unknown

DON'T BUY
Spring is seasonal strength for oil strikes before driving season. Jan.12-April 24 oil gains 10% above the benchmark, positive 12 of 15 years. He's starting to be enticed by the oil stocks. True, CPG suffers lower lows and lower highs, even today. All its moving averages are still down, but this is oversold and due for a bounce. On CPG's side is that oil is in higher demand. But for now, stay away from this.
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Spring is seasonal strength for oil strikes before driving season. Jan.12-April 24 oil gains 10% above the benchmark, positive 12 of 15 years. He's starting to be enticed by the oil stocks. True, CPG suffers lower lows and lower highs, even today. All its moving averages are still down, but this is oversold and due for a bounce. On CPG's side is that oil is in higher demand. But for now, stay away from this.
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Jon Vialoux

Research A, CastleMoore Inc....

Price Price
$3.420
Owned Owned
Unknown

COMMENT
Cutting production and dividend recently, but the stock price is still low. It's the ultimate contrarian pick. Something eventually will happen to revalue this stock, like somebody buys it. Cutting the dividend and paying down debt were the right decisions they've made. With crude prices rising and the WCS spread shrinking, something will eventually happen to this stock.
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Cutting production and dividend recently, but the stock price is still low. It's the ultimate contrarian pick. Something eventually will happen to revalue this stock, like somebody buys it. Cutting the dividend and paying down debt were the right decisions they've made. With crude prices rising and the WCS spread shrinking, something will eventually happen to this stock.
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Colin Stewart

CEO & Port, JC Clark Investments...

Price Price
$3.640
Owned Owned
Unknown

DON'T BUY
Two strikes against it: Canadian energy, and the name is in the penalty box because they over-promised and under-delivered. They're doing all the right things, and the assets are good, but nobody cares. It's going to lag. If you like it, buy Tourmaline, or CNQ, or Suncor, or Whitecap.
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Two strikes against it: Canadian energy, and the name is in the penalty box because they over-promised and under-delivered. They're doing all the right things, and the assets are good, but nobody cares. It's going to lag. If you like it, buy Tourmaline, or CNQ, or Suncor, or Whitecap.
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Bruce Campbell

President, Campbell and Lee Inv...

Price Price
$3.850
Owned Owned
Unknown

SPECULATIVE BUY
Frustrating to own. It looks cheap on paper, with solid assets and good managers. But in the past they overspent on acqusitions without generating enough returns. They've really cut back on that approach. Now, they need to sell some assets. If oil stays in the low-$50s/60s, this has enormous upside and the dividend will gradually increase. If oil reaches $65, CPG could easily double.
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Frustrating to own. It looks cheap on paper, with solid assets and good managers. But in the past they overspent on acqusitions without generating enough returns. They've really cut back on that approach. Now, they need to sell some assets. If oil stays in the low-$50s/60s, this has enormous upside and the dividend will gradually increase. If oil reaches $65, CPG could easily double.
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Jim Huang

President, T.I.P. Wealth Manage...

Price Price
$3.950
Owned Owned
Unknown

COMMENT
Fundamentally, it's a bargain, but there's no guarantee of an upside. This has solid support at current levels and is a past point. It could hit $6. Exit point is $3.70 and the company may not even exist in the future. He may start buying it himself.
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Fundamentally, it's a bargain, but there's no guarantee of an upside. This has solid support at current levels and is a past point. It could hit $6. Exit point is $3.70 and the company may not even exist in the future. He may start buying it himself.
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Jeff Parent B.

VP & Portf, Castlemoore Inc....

Price Price
$3.870
Owned Owned
Unknown

DON'T BUY
If WTI goes to $70? They have done a leadership change, has cut costs and has been rationalizing assets in Sask. All the right things. The dividend has been cut to virtual zero and the share buy back is helping metrics. It is no longer loved like it once was. At $70 WTI, he would rather invest in US light oil producers or Canadian heavy oil producers.
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If WTI goes to $70? They have done a leadership change, has cut costs and has been rationalizing assets in Sask. All the right things. The dividend has been cut to virtual zero and the share buy back is helping metrics. It is no longer loved like it once was. At $70 WTI, he would rather invest in US light oil producers or Canadian heavy oil producers.
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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$4.060
Owned Owned
No

WAIT
It was a little too levered in the downturn and they are now paying the price. The assets are quite good but it is a matter of when money will flow into the energy sector. The big guys will lift first. He would not be in a rush to buy it.
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It was a little too levered in the downturn and they are now paying the price. The assets are quite good but it is a matter of when money will flow into the energy sector. The big guys will lift first. He would not be in a rush to buy it.
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Rick Stuchberry

Portfolio , Wellington-Altus Pri...

Price Price
$4.430
Owned Owned
Unknown

HOLD
What must the price of oil be for this to see a meaningful upside? $60-65 oil. But Alberta has curtailed production. CPG is more sustainable since cutting their dividend to near-zero. Their debt-to-cash is 1.6x, which is better. Remarkably cheapo at 3.2x earnings. But they don't have good cash flow per share growth nor production growth. We've probably seen the worst. The big difference will be the TransMountain pipeline happening. Hold if you already own, but don't enter this.
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What must the price of oil be for this to see a meaningful upside? $60-65 oil. But Alberta has curtailed production. CPG is more sustainable since cutting their dividend to near-zero. Their debt-to-cash is 1.6x, which is better. Remarkably cheapo at 3.2x earnings. But they don't have good cash flow per share growth nor production growth. We've probably seen the worst. The big difference will be the TransMountain pipeline happening. Hold if you already own, but don't enter this.
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Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$4.660
Owned Owned
Unknown

SPECULATIVE BUY
He used to own it for the dividend. Has a $7 target. Canada needs to build pipelines to get our oil to market. Canadian oil will continue to trade at a discount to WTI. He's concerned about Canadian oil; we need political leadership and a trans-Canadian pipeline.
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He used to own it for the dividend. Has a $7 target. Canada needs to build pipelines to get our oil to market. Canadian oil will continue to trade at a discount to WTI. He's concerned about Canadian oil; we need political leadership and a trans-Canadian pipeline.
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Jaime Carrasco

Portfolio , Canaccord Genuity...

Price Price
$4.410
Owned Owned
No

COMMENT
Very cheap at 0.3x book. But on other hand, why is it so cheap? Cut budget and dividend, which was eating up cash flow. Now that it's happened, market could be breathing a sigh of relief. Don't put all eggs in one basket here. Fairly compelling valuation.
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Very cheap at 0.3x book. But on other hand, why is it so cheap? Cut budget and dividend, which was eating up cash flow. Now that it's happened, market could be breathing a sigh of relief. Don't put all eggs in one basket here. Fairly compelling valuation.
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Michael Sprung

President, Sprung Investment Ma...

Price Price
$4.440
Owned Owned
Unknown

BUY
It looks cheap and the balance sheet is not distressed. He likes it here. The risk/reward is good. They have quality crude and get better pricing than its Alberta peers.
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It looks cheap and the balance sheet is not distressed. He likes it here. The risk/reward is good. They have quality crude and get better pricing than its Alberta peers.
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James Hodgins

Chief Inve, Curvature Hedge Stra...

Price Price
$4.500
Owned Owned
Unknown

TOP PICK
Lot of sad stocks like this one. Worthy of a purchase. Nice double bottom of $3.80, so use that as an exit point. If it gets up to about $6, it's a "reversal of fortune" trade. Yield is 8.2%. (Analysts’ price target is $9.63)
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Lot of sad stocks like this one. Worthy of a purchase. Nice double bottom of $3.80, so use that as an exit point. If it gets up to about $6, it's a "reversal of fortune" trade. Yield is 8.2%. (Analysts’ price target is $9.63)
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Jeff Parent B.

VP & Portf, Castlemoore Inc....

Price Price
$4.380
Owned Owned
No

SPECULATIVE BUY
Tough place. Balance sheet keep improving but the yardstick keeps moving. Exceptionally cheap. Not the highest quality name in the space. But it is way oversold.
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Tough place. Balance sheet keep improving but the yardstick keeps moving. Exceptionally cheap. Not the highest quality name in the space. But it is way oversold.
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Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$4.180
Owned Owned
Unknown

COMMENT

He owned years ago. It struggled like all oil companies. They've gradually lessened their debt and reduced exploration. They've managed production well. He isn't buying any energy. Be cautious with the dividend above 9%.

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He owned years ago. It struggled like all oil companies. They've gradually lessened their debt and reduced exploration. They've managed production well. He isn't buying any energy. Be cautious with the dividend above 9%.

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Douglas Kee

Chief Inve, Leon Frazer & Associ...

Price Price
$3.910
Owned Owned
No

BUY
It has been ignored by the street. It is an 8.4% secure dividend yield. Equity is $16 a share.
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It has been ignored by the street. It is an 8.4% secure dividend yield. Equity is $16 a share.
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Josef Schachter

President, Schachter Asset Mana...

Price Price
$4.060
Owned Owned
Unknown

DON'T BUY
Why is it so low? Canadian energy suffers from very negative sentiment, though the WCS spread has narrowed (which is good). CPG management is finally getting the point that investors don't want them to keep issuing equity. So, CPG is trying to do asset sales, but so are peers. Also, we're in tax-loss selling season. She owns very few energy producers.
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Why is it so low? Canadian energy suffers from very negative sentiment, though the WCS spread has narrowed (which is good). CPG management is finally getting the point that investors don't want them to keep issuing equity. So, CPG is trying to do asset sales, but so are peers. Also, we're in tax-loss selling season. She owns very few energy producers.
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Christine Poole

CEO & Mana, GlobeInvest Capital ...

Price Price
$4.220
Owned Owned
No

COMMENT
Dividend safe? The black cloud over the industry affects this company, everybody loves to hate it. Last quarter was OK. This quarter we'll see if they've hedged some of their sales. Doesn't believe oil will stay this low for long, we'll be back to $50-60, even $70. Dividend is OK, though he can't guarantee it, but the cash flow supports the dividend. Yield is above 9%.
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Dividend safe? The black cloud over the industry affects this company, everybody loves to hate it. Last quarter was OK. This quarter we'll see if they've hedged some of their sales. Doesn't believe oil will stay this low for long, we'll be back to $50-60, even $70. Dividend is OK, though he can't guarantee it, but the cash flow supports the dividend. Yield is above 9%.
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David Cockfield

Managing D, Northland Wealth Man...

Price Price
$3.940
Owned Owned
Unknown

DON'T BUY
Vermilion (VET-T) vs Crescent Point (CPG-T) Neither of the two. Not overly optimistic on energy. He is underweight energy and sees little opportunities. Doesn't see supply cutting down anytime soon and we need that to happen for oil prices to rise. Prefers Suncor (SU-T) which is more conservative and integrated and has a decent dividend.
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Vermilion (VET-T) vs Crescent Point (CPG-T) Neither of the two. Not overly optimistic on energy. He is underweight energy and sees little opportunities. Doesn't see supply cutting down anytime soon and we need that to happen for oil prices to rise. Prefers Suncor (SU-T) which is more conservative and integrated and has a decent dividend.
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$4.030
Owned Owned
Unknown

COMMENT
He had shorted it, but it's fallen too far, too fast. CPG's challenge is an asset base that isn't producing cash flow relative to debt (also facing many overlevered energy companies). Terrible price momentum and very volatile. He's neutral on this. He needs to cash flow return and momentum to stabilize to get interested.
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He had shorted it, but it's fallen too far, too fast. CPG's challenge is an asset base that isn't producing cash flow relative to debt (also facing many overlevered energy companies). Terrible price momentum and very volatile. He's neutral on this. He needs to cash flow return and momentum to stabilize to get interested.
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Jason Mann

CIO & Co-F, Edgehill Patners...

Price Price
$3.990
Owned Owned
No

TOP PICK
Dividend over 7%. They are going to sell about 50,000 barrels a day to knock debt off by $1 billion. It will strengthen the balance sheet. Book value is $16.70. (Analysts’ price target is $11.60)
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Dividend over 7%. They are going to sell about 50,000 barrels a day to knock debt off by $1 billion. It will strengthen the balance sheet. Book value is $16.70. (Analysts’ price target is $11.60)
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Josef Schachter

President, Schachter Asset Mana...

Price Price
$4.960
Owned Owned
No

DON'T BUY
Baytex is his largest holding. He does not own CPG and would not own this. CPG is undervalued and cheap but so is the entire sector. CPG has several challenges and he would stay away from it. Their asset base is older and more tired. So more cash flow has to go to sustain production and not allow them to grow production.
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Baytex is his largest holding. He does not own CPG and would not own this. CPG is undervalued and cheap but so is the entire sector. CPG has several challenges and he would stay away from it. Their asset base is older and more tired. So more cash flow has to go to sustain production and not allow them to grow production.
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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$4.940
Owned Owned
No

BUY
A love/hate stock for a long time. Before investors loved this, then it fell on rough times. The valuation is good now, but it'll be more volatile than its peers. You're okay buying it at these levels.
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A love/hate stock for a long time. Before investors loved this, then it fell on rough times. The valuation is good now, but it'll be more volatile than its peers. You're okay buying it at these levels.
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Andrew Pyle

Senior wea, The Pyle Group, Scot...

Price Price
$5.140
Owned Owned
Unknown

HOLD
She owns it but would consider it a hold and not an immediate buy. They are trying to sell some assets but may have some difficulty doing so. She expects some uncertainty in the coming quarters. She believes dividend should be fine. If they can’t sell their assets, may see a dividend cut, this is why it is a hold. Yield = 7%
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She owns it but would consider it a hold and not an immediate buy. They are trying to sell some assets but may have some difficulty doing so. She expects some uncertainty in the coming quarters. She believes dividend should be fine. If they can’t sell their assets, may see a dividend cut, this is why it is a hold. Yield = 7%
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Joanne A. Hrusk

Market Str, Integral Wealth Secu...

Price Price
$5.080
Owned Owned
Yes

DON'T BUY
The issue with CPG is that Canada is a high-cost oil producer, but CPG is producer of marginal oils, which is even worse. Also, they have lots of leverage. The low price of oil is killing them. If the price of oil shot up to $100, CPG would be the stock to own because it'll rocket, but he doesn't see this happening. He wouldn't own this or any energy stocks.
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The issue with CPG is that Canada is a high-cost oil producer, but CPG is producer of marginal oils, which is even worse. Also, they have lots of leverage. The low price of oil is killing them. If the price of oil shot up to $100, CPG would be the stock to own because it'll rocket, but he doesn't see this happening. He wouldn't own this or any energy stocks.
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Bruce Murray

CEO & Chie, The Murray Wealth Gr...

Price Price
$5.080
Owned Owned
No

SELL
Stay away – he has been saying this for five years. He sees substantial asset write-downs coming. The balance sheet is not rock solid. They will continue to lose money this year and doubts their estimates for next year. A total disaster.
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Stay away – he has been saying this for five years. He sees substantial asset write-downs coming. The balance sheet is not rock solid. They will continue to lose money this year and doubts their estimates for next year. A total disaster.
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Brian Acker, CA

Chief Exec, Acker Finley Inc....

Price Price
$5.890
Owned Owned
No

HOLD

CPG-T vs. SVE-T.  He does not think the energy sector is coming back in a big way any time soon.  There are over sold indicators so it is okay as a trade but not for long term.  We need pipeline capacity.  He is fine with CPG-T.

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CPG-T vs. SVE-T.  He does not think the energy sector is coming back in a big way any time soon.  There are over sold indicators so it is okay as a trade but not for long term.  We need pipeline capacity.  He is fine with CPG-T.

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Larry Berman CF

Chief Inve, ETF Capital Manageme...

Price Price
$6.450
Owned Owned
Unknown

DON'T BUY

He's been long underweight energy. Management has issued more stock and cut the dividend in recent years and broke promises. CPG managers used to be conservative, no longer. He prefers other names like Suncor which is resilient when oil prices slip.

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He's been long underweight energy. Management has issued more stock and cut the dividend in recent years and broke promises. CPG managers used to be conservative, no longer. He prefers other names like Suncor which is resilient when oil prices slip.

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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$6.220
Owned Owned
No

DON'T BUY

He met with the new management and is convinced it is not enough to change investor perception.  The level of distaste for the name is at all times high.  Exposure in Utah is also hurting as investors see them alone and it is risky and boring.  

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He met with the new management and is convinced it is not enough to change investor perception.  The level of distaste for the name is at all times high.  Exposure in Utah is also hurting as investors see them alone and it is risky and boring.  

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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$6.920
Owned Owned
No

BUY on WEAKNESS

They had a recent management change. They sold an asset and so production is down a little. The company is in the process of selling another 50000 boe per day to reduce debt by about $1 billion. The yield at $8 is an attractive 4.4% and the company considers it secure. The company is attractive at this price, but tax loss selling season will be nasty for this stock. He thinks the stock could drop below $7.50. He will recommend it as a buy at $7.50. The 52-week low was $6.66. He is not sure it will drop that far. This company has very good assets and is a name investors should want to own for the long term. Yield 4.4%. 

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They had a recent management change. They sold an asset and so production is down a little. The company is in the process of selling another 50000 boe per day to reduce debt by about $1 billion. The yield at $8 is an attractive 4.4% and the company considers it secure. The company is attractive at this price, but tax loss selling season will be nasty for this stock. He thinks the stock could drop below $7.50. He will recommend it as a buy at $7.50. The 52-week low was $6.66. He is not sure it will drop that far. This company has very good assets and is a name investors should want to own for the long term. Yield 4.4%. 

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Josef Schachter

President, Schachter Asset Mana...

Price Price
$8.140
Owned Owned
Unknown

DON'T BUY

Intermediate oil companies like this one have been awful. There’s been a migration out of these stocks by the big investors. Price of oil has gone up, but these stocks have not. Won’t see increases until the industry consolidates. Reasonable dividend. Hold it if you own it, but otherwise stay away. (Analysts’ price target is $12.81.)

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Intermediate oil companies like this one have been awful. There’s been a migration out of these stocks by the big investors. Price of oil has gone up, but these stocks have not. Won’t see increases until the industry consolidates. Reasonable dividend. Hold it if you own it, but otherwise stay away. (Analysts’ price target is $12.81.)

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David Cockfield

Managing D, Northland Wealth Man...

Price Price
$8.100
Owned Owned
Unknown

HOLD

He has always felt the crux of the issue was around the quality of management.  Serial issuer of stocks and acquisitions – they took it too long too far.  He thinks half of the 185,000 boed could be up for sale to help deleverage the balance sheet.  They have strong assets, but he wondered how many years of inventory were necessary.  The market has not given the new management team the benefit of the doubt.  It is at all time lows in terms of valuation.  

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He has always felt the crux of the issue was around the quality of management.  Serial issuer of stocks and acquisitions – they took it too long too far.  He thinks half of the 185,000 boed could be up for sale to help deleverage the balance sheet.  They have strong assets, but he wondered how many years of inventory were necessary.  The market has not given the new management team the benefit of the doubt.  It is at all time lows in terms of valuation.  

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Dennis da Silva

Managing D, Middlefield Capital ...

Price Price
$8.220
Owned Owned
No

SHORT

It is another turnaround story with new management.  It has been a short for him for a while.  He thought there would be enough earnings power for some cash flow but it all reversed in the last couple of months.  It has poor price momentum and is not cheap enough.  He is still waiting for that turnaround in the energy sector.

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It is another turnaround story with new management.  It has been a short for him for a while.  He thought there would be enough earnings power for some cash flow but it all reversed in the last couple of months.  It has poor price momentum and is not cheap enough.  He is still waiting for that turnaround in the energy sector.

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Jason Mann

CIO & Co-F, Edgehill Patners...

Price Price
$7.590
Owned Owned
Yes

DON'T BUY

He does not believe the company will increase the dividend and does not see any huge upside, after meeting the new CEO.  Some much of the strategy revolves around asset divestiture, which could take two years.    

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He does not believe the company will increase the dividend and does not see any huge upside, after meeting the new CEO.  Some much of the strategy revolves around asset divestiture, which could take two years.    

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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$7.630
Owned Owned
No

HOLD

The company announced they want to pay off $1 billion in debt.  They will likely sell 50,000 bpd of production – most in the Bakken.  Book value is $16.32 per share.  Management is talking about focusing on core assets and a 17% reduction in employees.  Selling pressure is high as it is being removed from a couple of small cap indices.  He thinks this is overdone – he would not be a seller here.  The stock is pushing a 5% yield. 

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The company announced they want to pay off $1 billion in debt.  They will likely sell 50,000 bpd of production – most in the Bakken.  Book value is $16.32 per share.  Management is talking about focusing on core assets and a 17% reduction in employees.  Selling pressure is high as it is being removed from a couple of small cap indices.  He thinks this is overdone – he would not be a seller here.  The stock is pushing a 5% yield. 

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Josef Schachter

President, Schachter Asset Mana...

Price Price
$7.170
Owned Owned
No

SPECULATIVE BUY

Difficult to know in the short term if this is the place to enter. It has some very positive attributes – good cash flow and good land holdings. They have decided to lay off 17% of their staff to reduce costs to survive. When it is down and out, it is not the time to sell – maybe time to buy.

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Difficult to know in the short term if this is the place to enter. It has some very positive attributes – good cash flow and good land holdings. They have decided to lay off 17% of their staff to reduce costs to survive. When it is down and out, it is not the time to sell – maybe time to buy.

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Rick Stuchberry

Portfolio , Wellington-Altus Pri...

Price Price
$7.610
Owned Owned
No

DON'T BUY

A traditional oil/gas company. As a long-term investor, he wouldn't buy this. He's concerned about oil demand given the rise of e-cars in the next decade or two. Also, what is OPEC going to do? Canada doesn't have control over the oil price.

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A traditional oil/gas company. As a long-term investor, he wouldn't buy this. He's concerned about oil demand given the rise of e-cars in the next decade or two. Also, what is OPEC going to do? Canada doesn't have control over the oil price.

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Tim Nash

Financial , The Sustainable Econ...

Price Price
$7.820
Owned Owned
Unknown

DON'T BUY

Its book value for the past 4 years has been eroding. He'd like to see its balance sheet improve. Doesn't trust companies like this that are eroding. Pays a 4.4% dividend.

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Its book value for the past 4 years has been eroding. He'd like to see its balance sheet improve. Doesn't trust companies like this that are eroding. Pays a 4.4% dividend.

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Ross Healy

Chairman, Strategic Analysis C...

Price Price
$8.230
Owned Owned
Unknown

WATCH

He has been tempted to buy into this.  It is trading at production blow down levels.  For the street to care again the company has to hire an outsider to lead the company that would signal a change is coming.  There is no catalyst to signal anything other than status quo.   

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He has been tempted to buy into this.  It is trading at production blow down levels.  For the street to care again the company has to hire an outsider to lead the company that would signal a change is coming.  There is no catalyst to signal anything other than status quo.   

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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$8.130
Owned Owned
No

DON'T BUY

It is primarily Western Canada oil production, which has fallen from grace.  It will not return to previous values anytime soon.  It should be a $12 stock, but the discount just will not go away.  He would recommend many other names.  (Analysts’ price target is $13.50)

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It is primarily Western Canada oil production, which has fallen from grace.  It will not return to previous values anytime soon.  It should be a $12 stock, but the discount just will not go away.  He would recommend many other names.  (Analysts’ price target is $13.50)

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Bruce Campbell

President, Campbell and Lee Inv...

Price Price
$7.980
Owned Owned
No

WAIT

It is very cheap.  New management team is trying to rebuild their credibility because of executive compensation and stock issues.   Below $8.00 is a buy.  Book value is $16.32.  Is on their coverage list.  Has a 1 year target of $16.00.  He would not be a seller of this stock if you currently own it.

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It is very cheap.  New management team is trying to rebuild their credibility because of executive compensation and stock issues.   Below $8.00 is a buy.  Book value is $16.32.  Is on their coverage list.  Has a 1 year target of $16.00.  He would not be a seller of this stock if you currently own it.

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Josef Schachter

President, Schachter Asset Mana...

Price Price
$8.210
Owned Owned
No

SELL

They have about 180,000 boed and there is some concern over the strategy of management.  He does not like seeing a 52-week low when the rest of the sector is not.  He would be inclined to sell.  

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They have about 180,000 boed and there is some concern over the strategy of management.  He does not like seeing a 52-week low when the rest of the sector is not.  He would be inclined to sell.  

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Mike Archibald

Associate , AGF Investments...

Price Price
$8.480
Owned Owned
No

DON'T BUY

Oil stocks in general aren’t going to recover. Canadian heavy oil selling at 30% discount compared to WTI. But they are generating cash flow. People are turned off the sector. Until we see some increase in dividends, or takeovers, the sector is dead.

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Oil stocks in general aren’t going to recover. Canadian heavy oil selling at 30% discount compared to WTI. But they are generating cash flow. People are turned off the sector. Until we see some increase in dividends, or takeovers, the sector is dead.

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David Cockfield

Managing D, Northland Wealth Man...

Price Price
$8.480
Owned Owned
Unknown

STRONG BUY

A $5 billion marketcap and pays a good yield trading near the bottom of the $8.30 - $11.00 trading range.  An excellent short term buy, but trade with an $8.20 stop.  Short-term potential is above $10.   

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A $5 billion marketcap and pays a good yield trading near the bottom of the $8.30 - $11.00 trading range.  An excellent short term buy, but trade with an $8.20 stop.  Short-term potential is above $10.   

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Jeff Parent B.

VP & Portf, Castlemoore Inc....

Price Price
$8.510
Owned Owned
No

DON'T BUY

She does not have a lot of exposure in energy right now.  They are going through a management change.  In the past, they issued a lot of equity. They need to be more focused.  She would not be buying the stock here.

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She does not have a lot of exposure in energy right now.  They are going through a management change.  In the past, they issued a lot of equity. They need to be more focused.  She would not be buying the stock here.

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Christine Poole

CEO & Mana, GlobeInvest Capital ...

Price Price
$8.510
Owned Owned
No

HOLD

It is on his watch list.  He looks at it.  It has tremendous upside if they look after debt.  When it turns it could go up quite hard and quite fast.  You could trade it in the range between $8 and $11 as well.

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It is on his watch list.  He looks at it.  It has tremendous upside if they look after debt.  When it turns it could go up quite hard and quite fast.  You could trade it in the range between $8 and $11 as well.

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Benj Gallander

President, Contra the Heard Inv...

Price Price
$8.810
Owned Owned
Unknown

COMMENT

Corus Entertainment(CJR/B-T) or Crescent Point Energy(CPG-T). Run don’t walk away from  Corus Entertainment.   Is a declining business.  They own media assets. They have slashed their dividend.  There is a governance issue.   Going to be hard to get out of this secular decline that they are in.  He would sell it.  Crescent Point Energy:  Some activists involved in this one.  The tailwind for this is the rising oil prices.  Time on your side on this one.  Would be less concerned about this stock versus Corus.

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Corus Entertainment(CJR/B-T) or Crescent Point Energy(CPG-T). Run don’t walk away from  Corus Entertainment.   Is a declining business.  They own media assets. They have slashed their dividend.  There is a governance issue.   Going to be hard to get out of this secular decline that they are in.  He would sell it.  Crescent Point Energy:  Some activists involved in this one.  The tailwind for this is the rising oil prices.  Time on your side on this one.  Would be less concerned about this stock versus Corus.

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Brian Madden

Senior VP , Goodreid Investment ...

Price Price
$8.790
Owned Owned
_N/A

DON'T BUY

It hasn't recovered since oil prices came under pressure several years ago.  We need pipeline capacity to sell across Canada and to Asia.  They are taking down the leverage on their balance sheet, but he does not see a lot of upside.  The issue is the energy sector in Canada.

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It hasn't recovered since oil prices came under pressure several years ago.  We need pipeline capacity to sell across Canada and to Asia.  They are taking down the leverage on their balance sheet, but he does not see a lot of upside.  The issue is the energy sector in Canada.

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0 comments
Larry Berman CF

Chief Inve, ETF Capital Manageme...

Price Price
$8.840
Owned Owned
Unknown

SELL

There have been issues for the past few years.  He favours Cenovus and CNQ instead.  There are Board and proxy issues.  They have not shown they really hold the assets to turn things around.  He would be a seller.  

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There have been issues for the past few years.  He favours Cenovus and CNQ instead.  There are Board and proxy issues.  They have not shown they really hold the assets to turn things around.  He would be a seller.  

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Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$8.950
Owned Owned
No

WATCH

He knows there are changes in management.  The balance sheet is not bad.  Management has to show they have a game plan for growth.  Debt went up in the first quarter.  It needs to come down.  Watch to buy the stock below $9.

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He knows there are changes in management.  The balance sheet is not bad.  Management has to show they have a game plan for growth.  Debt went up in the first quarter.  It needs to come down.  Watch to buy the stock below $9.

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0 comments
Josef Schachter

President, Schachter Asset Mana...

Price Price
$9.910
Owned Owned
Unknown

WATCH

She owns some shares but has not been adding to this position for a few years. The company is changing its management. The market wants them to stop issuing equity to fund land acquisition and to pay down debt. She is waiting to see who the next CEO will be and what his or her direction will be.

oil/gas
0 0 0 0 0
0 comments

She owns some shares but has not been adding to this position for a few years. The company is changing its management. The market wants them to stop issuing equity to fund land acquisition and to pay down debt. She is waiting to see who the next CEO will be and what his or her direction will be.

oil/gas
0 0 0 0 0
0 comments
Christine Poole

CEO & Mana, GlobeInvest Capital ...

Price Price
$10.230
Owned Owned
Yes

COMMENT

Crescent Point or CNQ or Parex? For a portfolio strategy, especially in a taxable account, could consider taking a capital loss and going over to CNQ. The oil stocks have really lagged the commodity. Significantly undervalued. If you have big oils in your portfolio, they could underperform Crescent Point. Once Crescent Point starts to move, it will probably move fairly dramatically.

oil/gas
0 0 0 0 0
0 comments

Crescent Point or CNQ or Parex? For a portfolio strategy, especially in a taxable account, could consider taking a capital loss and going over to CNQ. The oil stocks have really lagged the commodity. Significantly undervalued. If you have big oils in your portfolio, they could underperform Crescent Point. Once Crescent Point starts to move, it will probably move fairly dramatically.

oil/gas
0 0 0 0 0
0 comments
David Cockfield

Managing D, Northland Wealth Man...

Price Price
$9.820
Owned Owned
Yes

DON'T BUY

Competitive call structure, lack of growth. Paying down debt instead of reinvesting in the business, which will hit their growth longer term. Prefers CNQ which has more growth and higher yield.

oil/gas
0 0 0 0 0
0 comments

Competitive call structure, lack of growth. Paying down debt instead of reinvesting in the business, which will hit their growth longer term. Prefers CNQ which has more growth and higher yield.

oil/gas
0 0 0 0 0
0 comments
Scott Willis

Head of Re, Grizzle...

Price Price
$9.660
Owned Owned
No

WATCH

The problem is that they were a growth story and got into some trouble when prices went down.  Now you are looking at a company trading at a significant discount to book value.  He is not looking at much growth this year in production.  Debt went up last quarter to 48%.  He likes the stock and thinks he will recommend it when oil goes up.

oil/gas
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The problem is that they were a growth story and got into some trouble when prices went down.  Now you are looking at a company trading at a significant discount to book value.  He is not looking at much growth this year in production.  Debt went up last quarter to 48%.  He likes the stock and thinks he will recommend it when oil goes up.

oil/gas
0 0 0 0 0
0 comments
Josef Schachter

President, Schachter Asset Mana...

Price Price
$9.620
Owned Owned
Unknown

DON'T BUY

He bought this the day the investor activism was announced.  When you look at executive compensation relative to shareholder value creation, it seems excessive.  They announced a new CEO from within the company.  It suggests they are not embracing a new approach to running the company.  He can do way better owning other names.

oil/gas
0 0 0 0 0
0 comments

He bought this the day the investor activism was announced.  When you look at executive compensation relative to shareholder value creation, it seems excessive.  They announced a new CEO from within the company.  It suggests they are not embracing a new approach to running the company.  He can do way better owning other names.

oil/gas
0 0 0 0 0
0 comments
Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$9.960
Owned Owned
Yes

DON'T BUY

This has had a lot of issues. Its peers have recovered (to a degree), but CPG still struggles. They paid too high a dividend during the trough of the oil crisis.

oil/gas
0 0 0 0 0
0 comments

This has had a lot of issues. Its peers have recovered (to a degree), but CPG still struggles. They paid too high a dividend during the trough of the oil crisis.

oil/gas
0 0 0 0 0
0 comments
Bryden Teich

Portfolio , Avenue Investment Ma...

Price Price
$10.220
Owned Owned
No

DON'T BUY

This is still looking pretty typical for energy stocks despite the CEO stepping down.  He would use $8.65 as an exit on new length.  He would not be a buyer until it moved back above $12.10. 

oil/gas
0 0 0 0 0
0 comments

This is still looking pretty typical for energy stocks despite the CEO stepping down.  He would use $8.65 as an exit on new length.  He would not be a buyer until it moved back above $12.10. 

oil/gas
0 0 0 0 0
0 comments
Jeff Parent B.

VP & Portf, Castlemoore Inc....

Price Price
$10.440
Owned Owned
No

SELL

A sell for so long because the Management team doesn’t care what their investors thought. They issued equity and boosted dividends making you pay taxes. Good assets. The CEO has stepped out a couple of days ago and that got people excited. Cheap but might stay cheap for a long term.

oil/gas
0 0 0 0 0
0 comments

A sell for so long because the Management team doesn’t care what their investors thought. They issued equity and boosted dividends making you pay taxes. Good assets. The CEO has stepped out a couple of days ago and that got people excited. Cheap but might stay cheap for a long term.

oil/gas
0 0 0 0 0
0 comments
John O'Connell,

Chairman a, Davis Rea...

Price Price
$10.440
Owned Owned
No

DON'T BUY

The CEO resigned yesterday then the stock rallied big time. CPG was aggressively run, chasing high-cost oil when the price of oil was high. It did a good job. But now it's not the company to own when prices have fallen. He'd avoid it.

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The CEO resigned yesterday then the stock rallied big time. CPG was aggressively run, chasing high-cost oil when the price of oil was high. It did a good job. But now it's not the company to own when prices have fallen. He'd avoid it.

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Bruce Murray

CEO & Chie, The Murray Wealth Gr...

Price Price
$10.420
Owned Owned
Unknown

BUY

The Energy sector is interesting from the psychological point of view. Some people believe that fossil fuels are going to disappear from the horizon. Doesn’t make sense at all to him. This company has more debt on the balance sheet than it should. Still he likes it. It depends very much on what you believe the price of oil is going to do. They are out of the oil sands sector.

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The Energy sector is interesting from the psychological point of view. Some people believe that fossil fuels are going to disappear from the horizon. Doesn’t make sense at all to him. This company has more debt on the balance sheet than it should. Still he likes it. It depends very much on what you believe the price of oil is going to do. They are out of the oil sands sector.

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David Cockfield

Managing D, Northland Wealth Man...

Price Price
$10.050
Owned Owned
Yes

COMMENT

Canada Pension Plan is rumoured to have backed the management proposal against the proxy battle.  However, the company has lingering frustration about historical investment decisions.  He thinks there will eventually be some significant change within management. 

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Canada Pension Plan is rumoured to have backed the management proposal against the proxy battle.  However, the company has lingering frustration about historical investment decisions.  He thinks there will eventually be some significant change within management. 

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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$10.180
Owned Owned
Unknown

COMMENT

Former market darling. Oil prices hasn’t helped them. He would look at other names with a little more growth.

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Former market darling. Oil prices hasn’t helped them. He would look at other names with a little more growth.

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Jamie Murray

Head of re, Murray Wealth Group...

Price Price
$10.180
Owned Owned
No

DON'T BUY

Playing the energy market and involved in the Canadian oil patch. Two tough things. Balance sheet is not as pristine as its peers. Valuation is very cheap though. He thinks it will see better days. If he were going to invest in an oil story, he would put money somewhere else.

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Playing the energy market and involved in the Canadian oil patch. Two tough things. Balance sheet is not as pristine as its peers. Valuation is very cheap though. He thinks it will see better days. If he were going to invest in an oil story, he would put money somewhere else.

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Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$10.380
Owned Owned
No

BUY on WEAKNESS

He’ll be going to the Annual General Meeting this week, to be at the contentious Board election. The company has a fabulous asset base in Saskatchewan and in the United States. He thinks the stock would be a good buy under $10 and better under $9 with the oil price retreating later this year. Management has seen the pressure that they have to perform. Debt went up in 2017 and has to come down.

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He’ll be going to the Annual General Meeting this week, to be at the contentious Board election. The company has a fabulous asset base in Saskatchewan and in the United States. He thinks the stock would be a good buy under $10 and better under $9 with the oil price retreating later this year. Management has seen the pressure that they have to perform. Debt went up in 2017 and has to come down.

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Josef Schachter

President, Schachter Asset Mana...

Price Price
$11.180
Owned Owned
Unknown

COMMENT

We've all be bitten by CPG. It's trading at the high end of the range and this current oil rally is actually not a fake start, but will continue. This is good for CPG. Then again, he's yet to see an activist jump on board a company and help it, which is happening to CPG now, so he's cautious.

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We've all be bitten by CPG. It's trading at the high end of the range and this current oil rally is actually not a fake start, but will continue. This is good for CPG. Then again, he's yet to see an activist jump on board a company and help it, which is happening to CPG now, so he's cautious.

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James Telfser

Partner & , Aventine Management ...

Price Price
$11.340
Owned Owned
Unknown

WEAK BUY

There is a motion in front of shareholders to shake things up.  It would not be his preferred choice in the sector.  The downside is limited, but there is not much upside.  He would be a luke-warm buyer.   (Analysts’ price target is $13.40 )

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There is a motion in front of shareholders to shake things up.  It would not be his preferred choice in the sector.  The downside is limited, but there is not much upside.  He would be a luke-warm buyer.   (Analysts’ price target is $13.40 )

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Don Lato

President, Padlock Investment M...

Price Price
$10.790
Owned Owned
No

BUY

Crescent Point Energy is in play at the moment, with a lot of shareholder activism. If you set that aside and look at the underlying value of the company, it is wildly undervalued. The company trades at 3.4 times Enterprise Value to Cash Flow (EV = Market Value + Debt) / Cash Flow. Compare that to booked reserves and they have proved, developed producing reserves (wells onstream) of 5. The price is so low because there is a historical dislike of some of the management team, partially because they issued paper in the past when they said they weren’t going to. That is an overhang on the share price. Between shareholder activism and the underlying price of oil, the company offers a low risk way to gain meaningful leverage to the current and future price of oil and also looks promising as an M&A target. This is a significant portion of his portfolio.

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Crescent Point Energy is in play at the moment, with a lot of shareholder activism. If you set that aside and look at the underlying value of the company, it is wildly undervalued. The company trades at 3.4 times Enterprise Value to Cash Flow (EV = Market Value + Debt) / Cash Flow. Compare that to booked reserves and they have proved, developed producing reserves (wells onstream) of 5. The price is so low because there is a historical dislike of some of the management team, partially because they issued paper in the past when they said they weren’t going to. That is an overhang on the share price. Between shareholder activism and the underlying price of oil, the company offers a low risk way to gain meaningful leverage to the current and future price of oil and also looks promising as an M&A target. This is a significant portion of his portfolio.

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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$9.840
Owned Owned
Yes

WATCH

As a non-engineer in Toronto, he thinks it has fallen from grace and should be fantastic to own.  It was the first company they bought when commodity prices fell – they got stopped out.  He does not know why it has not turned around – he likes the business and management.  It may take a while for the company to get fixed, but the investors have moved away from this whole space. 

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As a non-engineer in Toronto, he thinks it has fallen from grace and should be fantastic to own.  It was the first company they bought when commodity prices fell – they got stopped out.  He does not know why it has not turned around – he likes the business and management.  It may take a while for the company to get fixed, but the investors have moved away from this whole space. 

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Bill Harris, CF

Portfolio , Avenue Investment Ma...

Price Price
$10.020
Owned Owned
No

DON'T BUY

He is short but it is getting a bit long in the price.  It looks expensive.

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He is short but it is getting a bit long in the price.  It looks expensive.

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Jason Mann

CIO & Co-F, Edgehill Patners...

Price Price
$9.270
Owned Owned
Yes

WAIT

He covers Crescent Point but it is not yet on his buy list because he is looking for lower prices in Q2. The stock trades at half of book value with a strong dividend. The company traded over book value in every year from 2009 to 2017. The high water mark in 2017 was twice book value.  Book is $16.75 (compared to a price on day of interview of $8.46), so the stock could easily double. If he is right about weakness in Q2, the stock could drop to $7. The price is leveraged to the price of oil. The balance sheet is good: debt is not a problem. Long term debt is $4 billion versus $9.2 billion equity. The company did deals when the market wasn’t expecting it and volume has not increased much, so there has been investor unhappiness. He thinks people have thrown the stock away and has a $16 1-year stock target.

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He covers Crescent Point but it is not yet on his buy list because he is looking for lower prices in Q2. The stock trades at half of book value with a strong dividend. The company traded over book value in every year from 2009 to 2017. The high water mark in 2017 was twice book value.  Book is $16.75 (compared to a price on day of interview of $8.46), so the stock could easily double. If he is right about weakness in Q2, the stock could drop to $7. The price is leveraged to the price of oil. The balance sheet is good: debt is not a problem. Long term debt is $4 billion versus $9.2 billion equity. The company did deals when the market wasn’t expecting it and volume has not increased much, so there has been investor unhappiness. He thinks people have thrown the stock away and has a $16 1-year stock target.

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Josef Schachter

President, Schachter Asset Mana...

Price Price
$8.540
Owned Owned
No

HOLD

A primarily light oil producer with assets in Utah.  Since 2014 the shares have declined as oil prices have fallen.  They issued a lot of equity during their acquisition phase.  Debt to cash flow could be lower at almost 2 times, especially since crude oil prices might be near its short term peak.  If oil prices hold or go higher, the stock could improve. 

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A primarily light oil producer with assets in Utah.  Since 2014 the shares have declined as oil prices have fallen.  They issued a lot of equity during their acquisition phase.  Debt to cash flow could be lower at almost 2 times, especially since crude oil prices might be near its short term peak.  If oil prices hold or go higher, the stock could improve. 

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Michael Simpson

Senior Vic, Sentry Investments...

Price Price
$8.550
Owned Owned
No

BUY

He covered much of their short position last week.  He thinks they are turning it around, although it has not shown in the share value yet.  They were paying out more in dividends than they had free cash flow.  That is not happening lately at the recent oil price.  He thinks the dividend is now safe and the company is trading at a more defendable multiple. 

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He covered much of their short position last week.  He thinks they are turning it around, although it has not shown in the share value yet.  They were paying out more in dividends than they had free cash flow.  That is not happening lately at the recent oil price.  He thinks the dividend is now safe and the company is trading at a more defendable multiple. 

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James Hodgins

Chief Inve, Curvature Hedge Stra...

Price Price
$9.260
Owned Owned
No

DON'T BUY

They have lingering long-term issues though it's no longer a hated stock. They don't grow enough to attract capital, at 7% with a dividend. Midcap oil companies: investors don't care about them. All such companies should stop drilling and buy back stock. CPG will likely sell some assets and re-deploy their cash.

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They have lingering long-term issues though it's no longer a hated stock. They don't grow enough to attract capital, at 7% with a dividend. Midcap oil companies: investors don't care about them. All such companies should stop drilling and buy back stock. CPG will likely sell some assets and re-deploy their cash.

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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$8.720
Owned Owned
Unknown

COMMENT

As long as oil stays above $50, their dividend won't budge, but it won't grow either. They're spending their cash flow on exploration and development.  

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As long as oil stays above $50, their dividend won't budge, but it won't grow either. They're spending their cash flow on exploration and development.  

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Douglas Kee

Chief Inve, Leon Frazer & Associ...

Price Price
$8.660
Owned Owned
No

DON'T BUY

It deserves to be at a higher price.  They just announced results where they are going to have a payout ratio.  They will be operating within cash flow.  The multiples were lower in 2003 than they are now.  It could continue to go sideways.

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It deserves to be at a higher price.  They just announced results where they are going to have a payout ratio.  They will be operating within cash flow.  The multiples were lower in 2003 than they are now.  It could continue to go sideways.

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Teal Linde

Portfolio , Linde Equity Report...

Price Price
$9.820
Owned Owned
Unknown

DON'T BUY

The important thing is what Oil is selling for in Canada, where it trades at a big discount.  It is still in the mid-$30s.  There are political issues in Canada that are keeping our oil trading below world prices and he does not see that changing anytime soon.

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The important thing is what Oil is selling for in Canada, where it trades at a big discount.  It is still in the mid-$30s.  There are political issues in Canada that are keeping our oil trading below world prices and he does not see that changing anytime soon.

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Larry Berman CF

Chief Inve, ETF Capital Manageme...

Price Price
$9.820
Owned Owned
Unknown

DON'T BUY

CPG-T vs. CVE-T.  Seasonality starts Feb 25th.  Today they announced a draw from inventory rather than a build.  This might be enough to get this one going.  He would prefer CVE-T a little bit more.

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CPG-T vs. CVE-T.  Seasonality starts Feb 25th.  Today they announced a draw from inventory rather than a build.  This might be enough to get this one going.  He would prefer CVE-T a little bit more.

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Brooke Thackray

Research A, Horizons ETFs (Canad...

Price Price
$9.190
Owned Owned
Unknown

BUY on WEAKNESS

They have a very good hedge book.  It is trading about half of book value.  It has been hit by disappointment on their numbers.  They did a large number of stock issues.  Under $8 it looks attractive.

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They have a very good hedge book.  It is trading about half of book value.  It has been hit by disappointment on their numbers.  They did a large number of stock issues.  Under $8 it looks attractive.

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Josef Schachter

President, Schachter Asset Mana...

Price Price
$8.990
Owned Owned
Unknown

BUY

Why did you buy it? For a trade or to hold? For a holding, it looks good at these levels with a nice base built at $9. For a trade, then sell it.

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Why did you buy it? For a trade or to hold? For a holding, it looks good at these levels with a nice base built at $9. For a trade, then sell it.

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Elliott Fishman

Director o, Trading Services Gro...

Price Price
$8.990
Owned Owned
Unknown

COMMENT

You are going to make money buying any energy stock. A question of which one you buy. Historical issues with the Management Team. Trading at half its multiple a few months ago, so from a valuation point is good. Too much baggage in the name compared to others.

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You are going to make money buying any energy stock. A question of which one you buy. Historical issues with the Management Team. Trading at half its multiple a few months ago, so from a valuation point is good. Too much baggage in the name compared to others.

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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$8.710
Owned Owned
No

HOLD

We are coming up to the seasonal period when energy starts to do well.  We saw a breakout from the downward trend as it builds a base. 

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We are coming up to the seasonal period when energy starts to do well.  We saw a breakout from the downward trend as it builds a base. 

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Brooke Thackray

Research A, Horizons ETFs (Canad...

Price Price
$9.140
Owned Owned
Unknown

WATCH

People are concerned about companies that are continual acquirers.  Their debt has crept up a little bit.  It is not too bad.  She will potentially add them to her model portfolio.

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People are concerned about companies that are continual acquirers.  Their debt has crept up a little bit.  It is not too bad.  She will potentially add them to her model portfolio.

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Joanne A. Hrusk

Market Str, Integral Wealth Secu...

Price Price
$9.140
Owned Owned
No

HOLD

There is a lot of negative aspects to the oil sands, but they are not in that area. They are in Colorado and Utah and they have good results in their operations. But the cloud in the sector is affecting. You have to wait for a few quarters of earnings. (Analysts’ price target is $ 14)

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There is a lot of negative aspects to the oil sands, but they are not in that area. They are in Colorado and Utah and they have good results in their operations. But the cloud in the sector is affecting. You have to wait for a few quarters of earnings. (Analysts’ price target is $ 14)

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David Cockfield

Managing D, Northland Wealth Man...

Price Price
$9.370
Owned Owned
Yes

DON'T BUY

It suffered like most Canadian oil and gas producers.  They have increasing production in the US but are quite levered to Canada.  There is the $30 differential in oil prices against the US.  He owns PSK-T only.

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It suffered like most Canadian oil and gas producers.  They have increasing production in the US but are quite levered to Canada.  There is the $30 differential in oil prices against the US.  He owns PSK-T only.

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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$9.840
Owned Owned
No

DON'T BUY

He sees 5% production growth for 2017-2019. They released their targets in January, which were above previous estimates. 3.8% dividend yield with a 130% payout ratio, which is not horrible, but is not ironclad. Trading at a very cheap valuation. The bad part of the story is that their balance sheet is not ironclad. Debt to cash flow is 3X 2018-2019. It's not something he would be drawn to.

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He sees 5% production growth for 2017-2019. They released their targets in January, which were above previous estimates. 3.8% dividend yield with a 130% payout ratio, which is not horrible, but is not ironclad. Trading at a very cheap valuation. The bad part of the story is that their balance sheet is not ironclad. Debt to cash flow is 3X 2018-2019. It's not something he would be drawn to.

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0 comments
Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$10.870
Owned Owned
Unknown

COMMENT

He likes the stock.  Book value is $16.95 and it is trading at $11.50.  Debt load not bad.  It has been hammered because volumes have not increased.  Stock issues were made when they said they would not do them.  Debt went up in 2017. 

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0 comments

He likes the stock.  Book value is $16.95 and it is trading at $11.50.  Debt load not bad.  It has been hammered because volumes have not increased.  Stock issues were made when they said they would not do them.  Debt went up in 2017. 

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0 comments
Josef Schachter

President, Schachter Asset Mana...

Price Price
$11.480
Owned Owned
Unknown

COMMENT

Has held this in clients’ portfolios for some time, but has not been adding in the last 3 years. Right now, energy producers in Canada are suffering from a widening differential.

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0 comments

Has held this in clients’ portfolios for some time, but has not been adding in the last 3 years. Right now, energy producers in Canada are suffering from a widening differential.

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0 comments
Christine Poole

CEO & Mana, GlobeInvest Capital ...

Price Price
$10.470
Owned Owned
Yes

BUY

It was a dog last year and did not do much.  There is still a lot of negative sentiment.  He believes it is build into these stock prices.  It should play a huge catch-up trade this year.  The management team disappointed a lot of investors with their last equity raise but they should be able to de-lever a lot this year. 

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It was a dog last year and did not do much.  There is still a lot of negative sentiment.  He believes it is build into these stock prices.  It should play a huge catch-up trade this year.  The management team disappointed a lot of investors with their last equity raise but they should be able to de-lever a lot this year. 

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0 0 0 0 0
0 comments
James Telfser

Partner & , Aventine Management ...

Price Price
$10.060
Owned Owned
No

DON'T BUY

He's been buying oil. It’s a sector that money is going to start rotating into, because it has to play catch-up. If something has been in a downtrend, he wants it to base and then break out. That really hasn't started yet on this stock. It’s still heading down. He’s been buying oil stocks that have been breaking out from a base.

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He's been buying oil. It’s a sector that money is going to start rotating into, because it has to play catch-up. If something has been in a downtrend, he wants it to base and then break out. That really hasn't started yet on this stock. It’s still heading down. He’s been buying oil stocks that have been breaking out from a base.

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0 comments
Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$10.060
Owned Owned
No

COMMENT

Had bought some of this and is up pretty decently over the last month. He was buying an oil company that was trading at below "blowdown value". That means that if you believe in the script for oil, you could basically tell the team to go on vacations for the rest of their careers by just blowing down production, suck up the cash flow, and that was in excess of the enterprise value of the company. That was the magnitude of how stupidly inexpensive these companies got to. This offers a yield of 3% and are going to grow production by 3% giving you a 6% total return. This would not be his Top Pick for an oil company today.

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Had bought some of this and is up pretty decently over the last month. He was buying an oil company that was trading at below "blowdown value". That means that if you believe in the script for oil, you could basically tell the team to go on vacations for the rest of their careers by just blowing down production, suck up the cash flow, and that was in excess of the enterprise value of the company. That was the magnitude of how stupidly inexpensive these companies got to. This offers a yield of 3% and are going to grow production by 3% giving you a 6% total return. This would not be his Top Pick for an oil company today.

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0 comments
Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$10.130
Owned Owned
Yes

COMMENT

This name has been behind the rest, and is a bit of concern. Chart shows the base is around $8, and you would like to see it get above $11. Expect there would be some lagging interest that would come into play if it got above that baseline. You want to see a producer lead the commodity, so this is a little disconcerting because of that. If it has trouble getting above $11, then there are certainly better places to be in energy. Dividend yield of 3.6%.

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0 comments

This name has been behind the rest, and is a bit of concern. Chart shows the base is around $8, and you would like to see it get above $11. Expect there would be some lagging interest that would come into play if it got above that baseline. You want to see a producer lead the commodity, so this is a little disconcerting because of that. If it has trouble getting above $11, then there are certainly better places to be in energy. Dividend yield of 3.6%.

oil/gas
0 0 0 0 0
0 comments
Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$10.370
Owned Owned
Unknown

COMMENT

He’s been sceptical of this company. They’ve put a lot of investment in capital and never really materialized just yet. Nothing wrong with management. They are sitting on this big asset of at least $28B in capital but the return is still negative at the moment. It won’t take much to justify the price as it has been beaten up pretty badly. Even with just a small 5% return on capital, that would justify twice the price it’s trading at. They are definitively in a show me, prove it to me phase.

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