Pengrowth Energy

PGF-T

TSE:PGF

0.05
0.00 (0.00%)
Pengrowth Energy Corporation is a Canadian oil and natural gas company based in Calgary, Alberta. Established in 1988 by Calgary entrepreneur James S Kinnear, it was one of the largest of the Canadian ...
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Analysis and Opinions about PGF-T

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
November 15, 2019
Companies with challenged balance sheets (high debt in this case) face difficulty in banks continuing to finance growth. He would not own this one.
Pengrowth Energy (PGF-T)
November 15, 2019
Companies with challenged balance sheets (high debt in this case) face difficulty in banks continuing to finance growth. He would not own this one.
Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$0.055
Owned
No
DON'T BUY
DON'T BUY
September 16, 2019
He prefers other positions. They are going through hiring a senior investing banking group to find new investors. $1.25 is his target. Their issue is their debt. They have to find the right long term investor.
Pengrowth Energy (PGF-T)
September 16, 2019
He prefers other positions. They are going through hiring a senior investing banking group to find new investors. $1.25 is his target. Their issue is their debt. They have to find the right long term investor.
Josef Schachter
President, Schachter Asset Management
Price
$0.360
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
July 2, 2019
(A Top Pick Jun 21/17, Down 42%) The company has still had issues with its debt -- albeit the debt is lower today. He didn't take into account that the revenues could also fall, while the debt was declining. He continues to hold as he personally has it in his RRSP. Very high risk today.
(A Top Pick Jun 21/17, Down 42%) The company has still had issues with its debt -- albeit the debt is lower today. He didn't take into account that the revenues could also fall, while the debt was declining. He continues to hold as he personally has it in his RRSP. Very high risk today.
Benj Gallander
President, Contra the Heard Investment Letter
Price
$0.500
Owned
Yes
WATCH
WATCH
April 18, 2019
If you believe price of oil is not going over $60-70, and if you believe no egress in takeaway capacity, the bear side comes through. A major shareholder just bought more stock. On the value of barrels in the ground, this is like a lottery ticket on oil if it goes to $100. He sees $100 oil on a consistent basis in next few years, but until then the stock will languish.
If you believe price of oil is not going over $60-70, and if you believe no egress in takeaway capacity, the bear side comes through. A major shareholder just bought more stock. On the value of barrels in the ground, this is like a lottery ticket on oil if it goes to $100. He sees $100 oil on a consistent basis in next few years, but until then the stock will languish.
Josef Schachter
President, Schachter Asset Management
Price
$0.550
Owned
Unknown
WEAK BUY
WEAK BUY
March 28, 2019
The company is a decent sized company in the thermal oil side. Cash flow is only 6 cents. He has it going up to 11 cents. They will spend CAP-X on expansion. They have to service their debt. Book value is about 45 cents. It takes a long term perspective on this one. There is a lot of value in the ground. You want to have this for the long term but see his top picks for shorter term ideas.
The company is a decent sized company in the thermal oil side. Cash flow is only 6 cents. He has it going up to 11 cents. They will spend CAP-X on expansion. They have to service their debt. Book value is about 45 cents. It takes a long term perspective on this one. There is a lot of value in the ground. You want to have this for the long term but see his top picks for shorter term ideas.
Josef Schachter
President, Schachter Asset Management
Price
$0.560
Owned
Unknown
DON'T BUY
DON'T BUY
January 24, 2019
The balance sheet is a bit of a problem but the management team has a way to grow this company going forward. It is a thermal player. He needs to see pipe going in the ground.
Pengrowth Energy (PGF-T)
January 24, 2019
The balance sheet is a bit of a problem but the management team has a way to grow this company going forward. It is a thermal player. He needs to see pipe going in the ground.
Josef Schachter
President, Schachter Asset Management
Price
$0.730
Owned
No
SPECULATIVE BUY
SPECULATIVE BUY
December 24, 2018
He would bet against any company getting taken out in the next 6 months. He lost a lot of money on this one. He is happy to still own it although they could go bankrupt. They paired own the debt by selling off assets. They have to watch what is going on in the oil price. They have done quite a bit of hedging but will be free of it during next year and the stock will depend more on resource prices. It is a huge risk to own it.
Pengrowth Energy (PGF-T)
December 24, 2018
He would bet against any company getting taken out in the next 6 months. He lost a lot of money on this one. He is happy to still own it although they could go bankrupt. They paired own the debt by selling off assets. They have to watch what is going on in the oil price. They have done quite a bit of hedging but will be free of it during next year and the stock will depend more on resource prices. It is a huge risk to own it.
Benj Gallander
President, Contra the Heard Investment Letter
Price
$0.475
Owned
Yes
DON'T BUY
DON'T BUY
December 19, 2018

They have done a Herculean job to try to turn things around. Still very indebted.

Pengrowth Energy (PGF-T)
December 19, 2018

They have done a Herculean job to try to turn things around. Still very indebted.

Greg Newman
Director & Portfolio Manager, Scotia Wealth Management
Price
$0.560
Owned
No
HOLD
HOLD
October 22, 2018

They are trapped by their hedges at this time. They come off next year and that should help. He is happy to hold it. Next year we could see better results. He would not buy during tax loss selling.

Pengrowth Energy (PGF-T)
October 22, 2018

They are trapped by their hedges at this time. They come off next year and that should help. He is happy to hold it. Next year we could see better results. He would not buy during tax loss selling.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$0.950
Owned
Yes
DON'T BUY
DON'T BUY
October 19, 2018

Although he is an oil bull, selling assets to clean up the balance sheet has limited the ability to improve financially despite the rise in oil prices. There are better companies to choose from.

Pengrowth Energy (PGF-T)
October 19, 2018

Although he is an oil bull, selling assets to clean up the balance sheet has limited the ability to improve financially despite the rise in oil prices. There are better companies to choose from.

Eric Nuttall
Partner & Senior Portfolio Manager, Ninepoint Partners
Price
$0.940
Owned
No
TOP PICK
TOP PICK
June 21, 2018

It is a high risk opportunity. A major investor just bought more. They have a new CEO. They are in a better space and debt is down. (Analysts’ target: $1.01).

It is a high risk opportunity. A major investor just bought more. They have a new CEO. They are in a better space and debt is down. (Analysts’ target: $1.01).

Benj Gallander
President, Contra the Heard Investment Letter
Price
$0.850
Owned
Yes
COMMENT
COMMENT
May 1, 2018

The stock has bounced because of the higher oil price. It has sold assets to bring down debt, but debt is $600 million compared to an equity base of $1 billion, so it is still a bit high. At this point, they don’t have any key assets for sale. Their low production is 19,000 boe/day, which is this quarter. They will bring on more wells to bring production to 23,000 boe/day by the end of the year. Cash flow will be about $0.20 per year. His target for this year is $2 and $4.50 for the next 3-to-5 years. The company has a new CEO, with relevant (thermal oil) experience.

The stock has bounced because of the higher oil price. It has sold assets to bring down debt, but debt is $600 million compared to an equity base of $1 billion, so it is still a bit high. At this point, they don’t have any key assets for sale. Their low production is 19,000 boe/day, which is this quarter. They will bring on more wells to bring production to 23,000 boe/day by the end of the year. Cash flow will be about $0.20 per year. His target for this year is $2 and $4.50 for the next 3-to-5 years. The company has a new CEO, with relevant (thermal oil) experience.

Josef Schachter
President, Schachter Asset Management
Price
$1.110
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
March 16, 2018

(A Top Pick April 7/17 Down 43%). He never pulled the trigger on this as he was waiting to buy on weakness. He thinks it will fall further, but would buy it under $0.80. The company has paid down debt and sees growth through thermal oil. Be patient.

(A Top Pick April 7/17 Down 43%). He never pulled the trigger on this as he was waiting to buy on weakness. He thinks it will fall further, but would buy it under $0.80. The company has paid down debt and sees growth through thermal oil. Be patient.

Josef Schachter
President, Schachter Asset Management
Price
$0.850
Owned
No
PAST TOP PICK
PAST TOP PICK
February 12, 2018

(A Top Pick Jan 9/17, Down 53.22%) He still has not pulled the trigger on it. Under $0.75 it makes more sense. They repaired their balance sheet. They sold their non-core assets. He thinks we will see weakness into Q2’2018. He likes the management team.

Pengrowth Energy (PGF-T)
February 12, 2018

(A Top Pick Jan 9/17, Down 53.22%) He still has not pulled the trigger on it. Under $0.75 it makes more sense. They repaired their balance sheet. They sold their non-core assets. He thinks we will see weakness into Q2’2018. He likes the management team.

Josef Schachter
President, Schachter Asset Management
Price
$0.900
Owned
No
COMMENT
COMMENT
January 16, 2018

He is underwater with this. He likes to think it is going to turn, and he’s willing to hold on. They paid down an awful lot of debt. It seems like a good speculative play, but he isn’t willing to put more money into it.

Pengrowth Energy (PGF-T)
January 16, 2018

He is underwater with this. He likes to think it is going to turn, and he’s willing to hold on. They paid down an awful lot of debt. It seems like a good speculative play, but he isn’t willing to put more money into it.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$1.030
Owned
Yes
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