Eric Nuttall
Member since: Mar '10
Partner & Senior Portfolio Manager at
Ninepoint Partners

Latest Top Picks

(A Top Pick Feb 12/20, Down 4%) Also a top pick today. At $60 oil, he sees 38% free cash flow yield, $4.29 price target and 160% upside. They have a clean balance sheet, maybe they can do more tuck-in buys, and have several years of drilling inventory. TVE is the poster child of oil names left for dead but it offers big upside.
(A Top Pick Feb 12/20, Down 33%) A higher-beta oil play. They have excess debt that they'll pay down this year with free cash flow. They have a good free cash flow yield. He targets $1.40-1.50 based on $60 oil. At $60, this is a free cash flow machine. The business model changes drastically from $50 to $60 oil. They need to pay down their debt.
(A Top Pick Feb 12/20, Down 9%) He used to own 5% of the company and made a 40% profit in a few months--but he sold it way too early. Give this lesson, now he'd rather sit on oil names and ride it out, or else he'll miss the upside. Companies like this won't spend as much capex even with the oil price rise. You can do better elsewhere.
It's one of the cheapest energy stocks in the world. They just entered the Clearwater, the most profitable oil play in Canada. They'll generate gobs of free cash flow in 2022, enough to buy back all their shares using three years of cash. He sees well more than 100% upside. (Analysts’ price target is $2.09)
They're 45% into natural gas and 55% liquids. They exposes you to an improving natural gas business. They've reduced their growth rate in recent years, which lowered their decline rate. So they generate more free cash glow. The market doesn't appreciate how quickly their business model has changed. Based on $60 oil, he sees 190% upside. Hopes they keep production flat so they can later buy back all their shares. (Analysts’ price target is $8.81)