BUY
A dominant player in the oil services. A very good-quality holding. Represents good value in this market.
BUY
Will continue to be strong based on high oil prices. Attempting to secure a natural gas by making an offer for Canada Southern. A good price.
HOLD
Just completed its acquisition of Starpoint. Basically, it is an aggregation of a bunch of different companies and assets. Would like to see how they integrate these assets before buying.
SELL
Highly tied to the construction industry. Has come off quite a bit in the last little while. Payout ratio is very high. High risk.
DON'T BUY
Has been forced into putting itself up for sale. They have been notorious over payers. If a buyer does not materialise, there will probably be a distribution cut.
WAIT
Canada's largest independent income fund. Converting into an income trust. Yield would probably be in the 6.5/6.8% range. Before buying, delve into the outlook as a trust for their business and their ability to grow.
BUY
Has had a decent pullback and is at a good price. High quality management team. Superb track record.
BUY
An excellent income trust. Have a dominant position in their market. Low capital expenditure requirements. Relatively low payout ratio.
BUY
Has a very high level of confidence in the management team. Very focused. 80/85% natural gas. 60% payout ratio. Reserve life of about 19 years.
PAST TOP PICK
(A Top Pick Feb 3/06. Down 10%.) Expect that prices will move up in the latter half of the year. Service companies are a lot more volatile than their oil/gas counterparts. The #1 driller in Canada. Still likes.
PAST TOP PICK
(A Top Pick Feb 3/06. Up 3%.) Just got listed on the New York stock exchange. Has held up very well during this market correction. Have a significant land base as well as some assets in the oil sands.
TOP PICK
(A Top Pick Feb 3/06. No change.) Oil weighted. Aggressive management team. Focused on acquisitions in Saskatchewan. 11.1 years reserve life which is better than average. A very good entry point.
BUY
Owns US office properties. Have done a very good job in creativity and generating value for shareholders. Good quality management team. Research on it is limited. Do not have an overweight exposure on this, but a good way to play real estate outside of Canada.
DON'T BUY
They try to give exposure to a broad array of different types of relatively small to mid-market companies. Questions some of the companies they have acquired.
BUY
Own about 60% of the oilfield waste management industry in western Canada. Dominant in their space. Good defensive play in the oil/gas sector. Make good acquisitions on an accretive basis.