MEG Energy Corp

MEG-T

Analysis and Opinions about MEG-T

Signal
Opinion
Expert
WATCH
WATCH
April 17, 2017

Look at a 5 year chart. It looks like there is some stability and that it is turning around, but there are still question marks in his mind. You need to take out the 2016 highs.

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MEG Energy Corp (MEG-T)
April 17, 2017

Look at a 5 year chart. It looks like there is some stability and that it is turning around, but there are still question marks in his mind. You need to take out the 2016 highs.

DON'T BUY
DON'T BUY
February 10, 2017

An oil sands producer that had a number of problems over the years with their main project. It seems things are starting to turn around on the operation side, but he doesn’t see a great upside. If he was looking for an oil sands producer, this would not be his 1st choice.

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MEG Energy Corp (MEG-T)
February 10, 2017

An oil sands producer that had a number of problems over the years with their main project. It seems things are starting to turn around on the operation side, but he doesn’t see a great upside. If he was looking for an oil sands producer, this would not be his 1st choice.

DON'T BUY
DON'T BUY
December 6, 2016

He wouldn’t look at something like this. They have a significant debt burden. Based on where oil prices are, for an oil sands producer on a debt to cash flow basis, the numbers get huge. Doesn’t think that they have any near-term issues of being off-side on covenants or issues with refinancing their debt. This is not something he would be looking at.

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MEG Energy Corp (MEG-T)
December 6, 2016

He wouldn’t look at something like this. They have a significant debt burden. Based on where oil prices are, for an oil sands producer on a debt to cash flow basis, the numbers get huge. Doesn’t think that they have any near-term issues of being off-side on covenants or issues with refinancing their debt. This is not something he would be looking at.

DON'T BUY
DON'T BUY
October 7, 2016

(Market Call Minute.) Debt is simply too high. You have to be a believer in $70+ to think that this would be a going concern. Interest expense takes up so much of their cash flow, you are hampered by how much money has to go to the bank rather than going into the field.

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MEG Energy Corp (MEG-T)
October 7, 2016

(Market Call Minute.) Debt is simply too high. You have to be a believer in $70+ to think that this would be a going concern. Interest expense takes up so much of their cash flow, you are hampered by how much money has to go to the bank rather than going into the field.

COMMENT
COMMENT
September 26, 2016

They are well respected, but leveraged. Analysts are expecting oil and gas to go up in the future, which he does not agree with. They will have losses for the next couple of years. It looks like there is a base is forming.

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MEG Energy Corp (MEG-T)
September 26, 2016

They are well respected, but leveraged. Analysts are expecting oil and gas to go up in the future, which he does not agree with. They will have losses for the next couple of years. It looks like there is a base is forming.

COMMENT
COMMENT
May 2, 2016

It is off its lows. There is probably a lot of leverage.

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It is off its lows. There is probably a lot of leverage.

DON'T BUY
DON'T BUY
March 17, 2016

Doesn’t like this. An oil sands player. Have about $5.3 billion worth of debt on the balance sheet. Their asset is quite good, but not in this oil price environment. Going through a process of trying to rationalize certain key strategic assets, namely a 50% stake in an access pipeline. Looking at it on a debt to cash flow ratio, it looks like 65X debt to cash flow with where oil prices are right now.

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MEG Energy Corp (MEG-T)
March 17, 2016

Doesn’t like this. An oil sands player. Have about $5.3 billion worth of debt on the balance sheet. Their asset is quite good, but not in this oil price environment. Going through a process of trying to rationalize certain key strategic assets, namely a 50% stake in an access pipeline. Looking at it on a debt to cash flow ratio, it looks like 65X debt to cash flow with where oil prices are right now.

HOLD
HOLD
February 23, 2016

Of all of the most overleveraged companies that have no cash flow today, this would be at the top of the list. Have a negative netback of around $5 a barrel, so literally they burn $5 for every barrel they produce, but there are technical reasons why they would not want to slow down production. They are relying on the midstream sale of a pipeline that should be closing by the end of Q2. There is also an enormous Short position in the stock. This is beyond his comfort level, but if you own, he wouldn’t sell, based on his view of oil.

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MEG Energy Corp (MEG-T)
February 23, 2016

Of all of the most overleveraged companies that have no cash flow today, this would be at the top of the list. Have a negative netback of around $5 a barrel, so literally they burn $5 for every barrel they produce, but there are technical reasons why they would not want to slow down production. They are relying on the midstream sale of a pipeline that should be closing by the end of Q2. There is also an enormous Short position in the stock. This is beyond his comfort level, but if you own, he wouldn’t sell, based on his view of oil.

DON'T BUY
DON'T BUY
February 10, 2016

A challenge in that you have to have a significant bullish sentiment on oil/gas prices, especially oil, to be invested in it. Has significant debt. The maturity for the debt is pretty long dated, such as 2020-2021, however their interest payments per BOE is around $10. They are attempting to address this by potentially selling the access pipeline, but they didn’t talk about this very much in their quarter. She would stay on the sidelines until you know where oil prices are going to go and that management is able to address their debt burden.

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MEG Energy Corp (MEG-T)
February 10, 2016

A challenge in that you have to have a significant bullish sentiment on oil/gas prices, especially oil, to be invested in it. Has significant debt. The maturity for the debt is pretty long dated, such as 2020-2021, however their interest payments per BOE is around $10. They are attempting to address this by potentially selling the access pipeline, but they didn’t talk about this very much in their quarter. She would stay on the sidelines until you know where oil prices are going to go and that management is able to address their debt burden.

COMMENT
COMMENT
October 19, 2015

They are leveraged to oil because all they do is oil sands. Prices could be under pressure all of next year. The turning point was when SU-T came in with a bid for COS-T. They will be volatile for the next little while. Bottoms are starting to develop for these.

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MEG Energy Corp (MEG-T)
October 19, 2015

They are leveraged to oil because all they do is oil sands. Prices could be under pressure all of next year. The turning point was when SU-T came in with a bid for COS-T. They will be volatile for the next little while. Bottoms are starting to develop for these.

COMMENT
COMMENT
September 2, 2015

Are having a strategic review to get rid of the debt. Good company.

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MEG Energy Corp (MEG-T)
September 2, 2015

Are having a strategic review to get rid of the debt. Good company.

COMMENT
COMMENT
August 25, 2015

Debt is extremely high. Unless there is a miraculous oil recovery, there can be serious repercussions. If he is right on oil, you could double your money, but if he is wrong, it would be a struggle.

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MEG Energy Corp (MEG-T)
August 25, 2015

Debt is extremely high. Unless there is a miraculous oil recovery, there can be serious repercussions. If he is right on oil, you could double your money, but if he is wrong, it would be a struggle.

BUY
BUY
February 5, 2015

The most attractive asset for takeouts is reserves. This one has been beaten up, but could be attractive to a company that wants to build reserves. Debt comes due in 2020. You can probably sit on this one and make a lot of money. It depends on whether oil retests $44. This one bounced back because it was over depressed. Short term, the rally in Penn West is more sustainable.

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MEG Energy Corp (MEG-T)
February 5, 2015

The most attractive asset for takeouts is reserves. This one has been beaten up, but could be attractive to a company that wants to build reserves. Debt comes due in 2020. You can probably sit on this one and make a lot of money. It depends on whether oil retests $44. This one bounced back because it was over depressed. Short term, the rally in Penn West is more sustainable.

PAST TOP PICK
PAST TOP PICK
October 7, 2014

(A Top Pick Jan 17/14. Up 8.89%.) This has some of the best oil sands properties in Canada based on quality of reservoir,. They are still in the early stages of their growth profile. Feels the market is undervaluing the long-term strategic asset that they have. They have been able to access capital through equity markets and debt.

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MEG Energy Corp (MEG-T)
October 7, 2014

(A Top Pick Jan 17/14. Up 8.89%.) This has some of the best oil sands properties in Canada based on quality of reservoir,. They are still in the early stages of their growth profile. Feels the market is undervaluing the long-term strategic asset that they have. They have been able to access capital through equity markets and debt.

PAST TOP PICK
PAST TOP PICK
July 7, 2014

6.5% bond maturing March 15/21. (Top Pick Aug 13/13, Up 11.00%) A growing Canadian oil and gas story. It was building up a cash pile before Cap-X got under way. He bought more when it went on sale. It is playing out with how the stock and the debt are performing.

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6.5% bond maturing March 15/21. (Top Pick Aug 13/13, Up 11.00%) A growing Canadian oil and gas story. It was building up a cash pile before Cap-X got under way. He bought more when it went on sale. It is playing out with how the stock and the debt are performing.

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