Vault Energy Trust

VNG.UN-T

0.00
0.00 (0.00%)
This company is not ACTIVE.

Analysis and Opinions about VNG.UN-T

Signal
Opinion
Expert
PAST TOP PICK
PAST TOP PICK
April 21, 2008
(A Top Pick Nov 17/06. Down 1%.) Acquired by Penn West Energy (PWT.UN-T)
(A Top Pick Nov 17/06. Down 1%.) Acquired by Penn West Energy (PWT.UN-T)
Ravi Sood
President and Chief Operating Officer, Lawrence Asset Management
Price
$3.880
Owned
No
COMMENT
COMMENT
September 5, 2007
Has declined significantly in the last 2 months. Part of it is due to the decline in gas prices. Also, their payout ratio is a little high. Market is looking for a distribution cut. Currently they are up for sale.
Has declined significantly in the last 2 months. Part of it is due to the decline in gas prices. Also, their payout ratio is a little high. Market is looking for a distribution cut. Currently they are up for sale.
Ben Cheng
President and Chief Investment Officer, Aston Hill Financial Ltd.
Price
$3.900
Owned
Unknown
COMMENT
COMMENT
July 4, 2007
Trading below net asset value. Difficult asset base causing them to miss production in the past. Near 20% yield. Looking interesting.
Trading below net asset value. Difficult asset base causing them to miss production in the past. Near 20% yield. Looking interesting.
Michael Simpson, CFA
Senior Vice-President, Sentry Investments
Price
$5.120
Owned
No
DON'T BUY
DON'T BUY
July 3, 2007
Higher cost production. They have a capital allocation problem. Distributions plus Cap-X is greater than their cash flow so they need an external source of capital to fund some of their distribution. Too much debt.
Higher cost production. They have a capital allocation problem. Distributions plus Cap-X is greater than their cash flow so they need an external source of capital to fund some of their distribution. Too much debt.
Sandy McIntyre
Vice-Chairman and CIO, Sentry Select Capital Corp
Price
$5.240
Owned
No
COMMENT
COMMENT
March 20, 2007
Historically have missed on their production numbers and he would like to seat management meet their numbers before owning. F&D costs were quite high this year. Have a lot of tax pools. Trading below its net asset value.
Historically have missed on their production numbers and he would like to seat management meet their numbers before owning. F&D costs were quite high this year. Have a lot of tax pools. Trading below its net asset value.
Michael Simpson, CFA
Senior Vice-President, Sentry Investments
Price
$4.190
Owned
No
COMMENT
COMMENT
February 23, 2007
Just released reserves, which met analysts’ expectations. Debt to cash flow is over 2 X’s. Payout ratio is around 80%. Have set production guidance in the past and had trouble meeting it. Have a lot of tax pool, which is becoming very valuable. Possible takeover candidate. Doesn't meet his criteria.
Just released reserves, which met analysts’ expectations. Debt to cash flow is over 2 X’s. Payout ratio is around 80%. Have set production guidance in the past and had trouble meeting it. Have a lot of tax pool, which is becoming very valuable. Possible takeover candidate. Doesn't meet his criteria.
Michael Simpson, CFA
Senior Vice-President, Sentry Investments
Price
$5.120
Owned
No
DON'T BUY
DON'T BUY
January 22, 2007
35% of their natural gas is hedged at $7.60. Had some disappointing production and drill results, and he sold his position. Thinks it is a takeover target within the next year, but doesn't think it will get too much of a premium.
35% of their natural gas is hedged at $7.60. Had some disappointing production and drill results, and he sold his position. Thinks it is a takeover target within the next year, but doesn't think it will get too much of a premium.
Robert Lauzon
Deputy Chief Investment Officer, Middlefield Capital Corporation
Price
$4.970
Owned
No
HOLD
HOLD
January 18, 2007
An interesting situation. Quite a small trust and would be an early consolidation candidate. Distribution gives about a 20% yield, yet it has one of the lower payout ratios in the sector at about 110%.
An interesting situation. Quite a small trust and would be an early consolidation candidate. Distribution gives about a 20% yield, yet it has one of the lower payout ratios in the sector at about 110%.
Robert Toole
Managing Director, Creststreet Asset Management
Price
$4.680
Owned
Unknown
DON'T BUY
DON'T BUY
January 16, 2007
There are better producers. Smaller cap and there are safer places to invest in. Yield of about 20% is a red flag that they may have to drop their distributions.
There are better producers. Smaller cap and there are safer places to invest in. Yield of about 20% is a red flag that they may have to drop their distributions.
Glenn MacNeill, P.Eng.
CIO & Sr. Portfolio Manager, Lawrence Asset Management
Price
$4.830
Owned
No
WAIT
WAIT
December 29, 2006
Missed production numbers a couple of times and has more leverage than he likes. Has a good asset base, so has the opportunity to fix itself going forward. Because it is gas weighted, not a good time to enter.
Missed production numbers a couple of times and has more leverage than he likes. Has a good asset base, so has the opportunity to fix itself going forward. Because it is gas weighted, not a good time to enter.
Sandy McIntyre
Vice-Chairman and CIO, Sentry Select Capital Corp
Price
$5.500
Owned
Unknown
WEAK BUY
WEAK BUY
December 1, 2006
One of the smaller oil/gas trusts. Stumbled on production on a few quarters over the last few years. There is a risk this could continue. The properties within the trust are very good. Would hope for a change in management.
One of the smaller oil/gas trusts. Stumbled on production on a few quarters over the last few years. There is a risk this could continue. The properties within the trust are very good. Would hope for a change in management.
Ben Cheng
President and Chief Investment Officer, Aston Hill Financial Ltd.
Price
$5.830
Owned
No
TOP PICK
TOP PICK
November 17, 2006
Huge yield. Trading at a huge discount to its net asset value. Have $450 million of tax losses. When 2011 rolls around, this gives them a huge tax shield.
Huge yield. Trading at a huge discount to its net asset value. Have $450 million of tax losses. When 2011 rolls around, this gives them a huge tax shield.
Ravi Sood
President and Chief Operating Officer, Lawrence Asset Management
Price
$5.610
Owned
Yes
SHORT
SHORT
November 16, 2006
If you own sell. If you want a short position, this would be one.
If you own sell. If you want a short position, this would be one.
John Stephenson
President & CEO, Stephenson & Company Capital Management
Price
$5.180
Owned
Unknown
DON'T BUY
DON'T BUY
October 27, 2006
Has a couple of issues. Very highly levered relative to its peer group. High payout ratio.
Has a couple of issues. Very highly levered relative to its peer group. High payout ratio.
Kevin Hall BComm, CFA
Managing Director, Guardian Capital
Price
$7.560
Owned
No
SELL
SELL
October 27, 2006
Trading at about an 18% yield. One of the smallest royalty trusts out there. Hasn't gotten enough critical mass and could be a consolidation candidate. Better places to be.
Trading at about an 18% yield. One of the smallest royalty trusts out there. Hasn't gotten enough critical mass and could be a consolidation candidate. Better places to be.
Robert Toole
Managing Director, Creststreet Asset Management
Price
$7.560
Owned
No
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