Torc Oil & Gas Ltd

TOG-T

Analysis and Opinions about TOG-T

Signal
Opinion
Expert
TOP PICK
TOP PICK
September 12, 2016

They are very conservative in what they do. They have a conservative balance sheet. A safe and secure investment with a 3% yield. They could be a takeout candidate in the future.

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Torc Oil & Gas Ltd (TOG-T)
September 12, 2016

They are very conservative in what they do. They have a conservative balance sheet. A safe and secure investment with a 3% yield. They could be a takeout candidate in the future.

PAST TOP PICK
PAST TOP PICK
August 30, 2016

(A Top Pick Aug 25/15. Up 81.77%.) Has a lot of respect for management. This had been a poorer performer last year than others, and had went from trading at a discount to trading at a pretty good premium. Using $60 oil, he would have it trading at around 8X EBITDA to cash flow, which implies zero upside from today’s oil price. He would say this has 35% upside using $65 oil.

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(A Top Pick Aug 25/15. Up 81.77%.) Has a lot of respect for management. This had been a poorer performer last year than others, and had went from trading at a discount to trading at a pretty good premium. Using $60 oil, he would have it trading at around 8X EBITDA to cash flow, which implies zero upside from today’s oil price. He would say this has 35% upside using $65 oil.

PAST TOP PICK
PAST TOP PICK
August 2, 2016

(A Top Pick Sept 25/16. Up 23.6%.) He continues to like this. Considers it a pretty conservatively run company. Management credibility is quite strong.

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(A Top Pick Sept 25/16. Up 23.6%.) He continues to like this. Considers it a pretty conservatively run company. Management credibility is quite strong.

PAST TOP PICK
PAST TOP PICK
July 29, 2016

He bought more this morning. They did a transaction earlier this week. Companies with cash can get assets off the dying.

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He bought more this morning. They did a transaction earlier this week. Companies with cash can get assets off the dying.

COMMENT
COMMENT
July 21, 2016

A light oil producer. Management is in the top quartile in Calgary. This has a big investment from the Canada Pension Plan, which would basically backstop all their deals in terms of acquiring assets in Saskatchewan. Have always had a strategy of carrying very low debt on the balance sheet, and executing well. 3.1% dividend yield.

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A light oil producer. Management is in the top quartile in Calgary. This has a big investment from the Canada Pension Plan, which would basically backstop all their deals in terms of acquiring assets in Saskatchewan. Have always had a strategy of carrying very low debt on the balance sheet, and executing well. 3.1% dividend yield.

HOLD
HOLD
July 20, 2016

Although he doesn’t own this, he likes the company. It is a steady producer. They underpromise and overdeliver.

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Although he doesn’t own this, he likes the company. It is a steady producer. They underpromise and overdeliver.

BUY
BUY
June 3, 2016

A Buy, solely based on its very strong price momentum. Valuation really isn’t there yet, but that would be true for most of these oil/gas producers. Scores in the top 5% for price momentum. He has a small holding and would add to it if they actually start to cash flow again. Trading really cheap on a Price to Book value at close to 1X.

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A Buy, solely based on its very strong price momentum. Valuation really isn’t there yet, but that would be true for most of these oil/gas producers. Scores in the top 5% for price momentum. He has a small holding and would add to it if they actually start to cash flow again. Trading really cheap on a Price to Book value at close to 1X.

TOP PICK
TOP PICK
May 31, 2016

Very well-run company. A conservative management team that likes to under promise so that they can surprise you with a beat. Have done a great job of weathering the storm, making sure the balance sheet is clean, spending cash flow to maintain production. Good oil torque. About an 18,000-19,000 barrel producer, so it is right in the sweet spot of not being too big and continuing to add growth as oil prices recover. Dividend yield of 2.90%.

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Very well-run company. A conservative management team that likes to under promise so that they can surprise you with a beat. Have done a great job of weathering the storm, making sure the balance sheet is clean, spending cash flow to maintain production. Good oil torque. About an 18,000-19,000 barrel producer, so it is right in the sweet spot of not being too big and continuing to add growth as oil prices recover. Dividend yield of 2.90%.

COMMENT
COMMENT
May 27, 2016

(Market Call Minute.) Torc Oil & Gas (TOG-T) or Whitecap Resources (WCP-T)? He likes both companies and maybe Whitecap today due to valuation.

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(Market Call Minute.) Torc Oil & Gas (TOG-T) or Whitecap Resources (WCP-T)? He likes both companies and maybe Whitecap today due to valuation.

WATCH
WATCH
April 25, 2016

We are not out of the worst in oil and gas, but the bottom is probably in. There should be some support around the breakout area at the beginning of this month. See if the breakout holds. Don’t add here. Wait for a pullback as he thinks there is pullback in oil prices to come.

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We are not out of the worst in oil and gas, but the bottom is probably in. There should be some support around the breakout area at the beginning of this month. See if the breakout holds. Don’t add here. Wait for a pullback as he thinks there is pullback in oil prices to come.

WATCH
WATCH
April 14, 2016

Wait for $8, a negative transit. If you sell it at EBV, it would be a perfect trade.

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Wait for $8, a negative transit. If you sell it at EBV, it would be a perfect trade.

HOLD
HOLD
April 7, 2016

It is expensive, trading at a bit of a premium. You are buying a good inventory that is managed by good management. It is a street favourite.

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It is expensive, trading at a bit of a premium. You are buying a good inventory that is managed by good management. It is a street favourite.

PAST TOP PICK
PAST TOP PICK
March 21, 2016

(Top Pick Feb 05’15, Down 40.76%) Hold it because they are well hedged. He thinks pries will be higher in 18 months. They have good management and good drill results. Be a patient investor. They are living within their means.

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(Top Pick Feb 05’15, Down 40.76%) Hold it because they are well hedged. He thinks pries will be higher in 18 months. They have good management and good drill results. Be a patient investor. They are living within their means.

COMMENT
COMMENT
March 17, 2016

One of his favourite companies. Feels it is a pretty sustainable model. The decline rate is only about 23%-24%, so it is in a kind of sweet spot to be able to pay a dividend. There is a lot of optionality in their Alberta Bakken and the 3 Forks play in Saskatchewan. That could be worth a tremendous amount more than what is reflected in the current share price. They also have the strong sponsorship of CPP, which he feels is probably underappreciated by the investment community. He is looking for them to continue to do smart acquisitions and emerge from the downturn stronger.

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One of his favourite companies. Feels it is a pretty sustainable model. The decline rate is only about 23%-24%, so it is in a kind of sweet spot to be able to pay a dividend. There is a lot of optionality in their Alberta Bakken and the 3 Forks play in Saskatchewan. That could be worth a tremendous amount more than what is reflected in the current share price. They also have the strong sponsorship of CPP, which he feels is probably underappreciated by the investment community. He is looking for them to continue to do smart acquisitions and emerge from the downturn stronger.

BUY
BUY
February 23, 2016

Likes this quite a bit. One of the highest NETBACKS of any company in Canada. Have been able to moderate their declines, which makes the company more sustainable. Cut their dividend last week and the stock shot up 14%. CPP is a major cornerstone investor in the company, owning just over 20%.

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Torc Oil & Gas Ltd (TOG-T)
February 23, 2016

Likes this quite a bit. One of the highest NETBACKS of any company in Canada. Have been able to moderate their declines, which makes the company more sustainable. Cut their dividend last week and the stock shot up 14%. CPP is a major cornerstone investor in the company, owning just over 20%.

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