Crescent Point Energy Corp

CPG-T

TSE:CPG

1.09
0.00 (0.00%)
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.
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Analysis and Opinions about CPG-T

Signal
Opinion
Expert
COMMENT
COMMENT
February 25, 2009
Current CapX and current distribution is at 137%. Companies can't operate paying out more than they take in. With estimated oil prices for this year and next, there is no way current distributions can be maintained. Expecting a 40% distribution cut.
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Current CapX and current distribution is at 137%. Companies can't operate paying out more than they take in. With estimated oil prices for this year and next, there is no way current distributions can be maintained. Expecting a 40% distribution cut.
BUY WEAKNESS
BUY WEAKNESS
February 24, 2009
One of the best quality of the oil/gas royalty trusts. Developing a field in the Bakken in South Saskatchewan. Good well production. Over distributing a bit at these commodity prices. 2 years from now as the reserves will be worth more. 13% yield.
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One of the best quality of the oil/gas royalty trusts. Developing a field in the Bakken in South Saskatchewan. Good well production. Over distributing a bit at these commodity prices. 2 years from now as the reserves will be worth more. 13% yield.
TOP PICK
TOP PICK
February 17, 2009
Good management. Hedged their oil at $80 a barrel. Recently paid down some debt. Have access to bank credits if needed. Did a financing, which was oversubscribed. One of the top trusts for safety of distributions. 12% yield is a little high.
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Good management. Hedged their oil at $80 a barrel. Recently paid down some debt. Have access to bank credits if needed. Did a financing, which was oversubscribed. One of the top trusts for safety of distributions. 12% yield is a little high.
BUY
BUY
February 13, 2009
(Market Call Minute.) Very well managed. Has suffered like everything else and there has been a reduction in the payouts.
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(Market Call Minute.) Very well managed. Has suffered like everything else and there has been a reduction in the payouts.
PAST TOP PICK
PAST TOP PICK
February 6, 2009
(A Top Pick Jan 29/08. Up 3.6%.) Dominant player in the light oil Bakken Bock and play in south-east Saskatchewan. Management feels they can maintain distribution at these prices. Active hedgers. Relatively low debt to cash flow.
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(A Top Pick Jan 29/08. Up 3.6%.) Dominant player in the light oil Bakken Bock and play in south-east Saskatchewan. Management feels they can maintain distribution at these prices. Active hedgers. Relatively low debt to cash flow.
BUY
BUY
February 3, 2009
Basically a play on the Bakken in southwest Saskatchewan. Significant oil in place. Balance sheet is reasonable. Possibly will convert early to a Corp.
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Basically a play on the Bakken in southwest Saskatchewan. Significant oil in place. Balance sheet is reasonable. Possibly will convert early to a Corp.
BUY WEAKNESS
BUY WEAKNESS
January 28, 2009
Likes conventional (not oil sands) plays in this environment. Sitting on 4 billion barrels of oil in the Bakkens in southern Saskatchewan with 1400 drillable locations. Great future. Terrific management. Have hedged forward to 2011 at $100 oil. Buy on weakness but don't wait too long.
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Likes conventional (not oil sands) plays in this environment. Sitting on 4 billion barrels of oil in the Bakkens in southern Saskatchewan with 1400 drillable locations. Great future. Terrific management. Have hedged forward to 2011 at $100 oil. Buy on weakness but don't wait too long.
WAIT
WAIT
January 20, 2009
Pure oil play in the Bakken field in Manitoba/Saskatchewan. Would be buying once he was satisfied that the price of oil would pick up. Distributions could come down but probably will be modest.
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Pure oil play in the Bakken field in Manitoba/Saskatchewan. Would be buying once he was satisfied that the price of oil would pick up. Distributions could come down but probably will be modest.
TOP PICK
TOP PICK
January 20, 2009
Light oil producer in Saskatchewan. 40,000 barrels a day. Very concentrated asset package with low operating costs. Extremely attractive hedge position. There is a risk if commodity prices stay down they might want to reduce distributions. Even with that it is very attractive.
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Light oil producer in Saskatchewan. 40,000 barrels a day. Very concentrated asset package with low operating costs. Extremely attractive hedge position. There is a risk if commodity prices stay down they might want to reduce distributions. Even with that it is very attractive.
COMMENT
COMMENT
January 7, 2009
Have very positive fundamentals against the group. All of them have some risks to their distributions. If you are looking for a trust name in this group, this is one he would consider.
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Have very positive fundamentals against the group. All of them have some risks to their distributions. If you are looking for a trust name in this group, this is one he would consider.
BUY
BUY
December 19, 2008
Has years of potential property to develop, a lot of it in the Bakken field. Extremely well managed.
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Has years of potential property to develop, a lot of it in the Bakken field. Extremely well managed.
PAST TOP PICK
PAST TOP PICK
December 8, 2008
(Past Top Pick Jan 21/08. Up 1%.) One of the bigger operators in the Bakken light oil play. Very cheap. A Buy.
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(Past Top Pick Jan 21/08. Up 1%.) One of the bigger operators in the Bakken light oil play. Very cheap. A Buy.
HOLD
HOLD
December 5, 2008
Likes some of the things they are doing. In on the Bakken play in Saskatchewan. Good operators. Distributions in all oil/gas trusts are somewhat suspect.
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Likes some of the things they are doing. In on the Bakken play in Saskatchewan. Good operators. Distributions in all oil/gas trusts are somewhat suspect.
BUY
BUY
December 5, 2008
One of the better positions in the oil/gas royalty trusts space. Graduated hedging program, which offers them a lot of protection at $75 Cdn longer-term. Selling has been indiscriminate. Also concerns that royalty trusts are going to have to cut distributions dramatically. Given this trust’s relatively lower payout ratio and their hedging they are less likely to cut. Great company.
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One of the better positions in the oil/gas royalty trusts space. Graduated hedging program, which offers them a lot of protection at $75 Cdn longer-term. Selling has been indiscriminate. Also concerns that royalty trusts are going to have to cut distributions dramatically. Given this trust’s relatively lower payout ratio and their hedging they are less likely to cut. Great company.
BUY
BUY
December 1, 2008
If you're looking at trusts generally, take a very hard look at what happens to the cash flow per unit if oil stays at $50 as well as what happens to distributions in 2011. The 2 that come out the best are Crescent Point (CPG.UN-T) and Vermilion Energy (VET.UN-T).
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If you're looking at trusts generally, take a very hard look at what happens to the cash flow per unit if oil stays at $50 as well as what happens to distributions in 2011. The 2 that come out the best are Crescent Point (CPG.UN-T) and Vermilion Energy (VET.UN-T).
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