| BUY | 35.560 | Glenn MacNeill, P.Eng. | 80% oil. Great trust. A lot of properties are concentrated in the southeast area of Saskatchewan in the Bakken play. Long-term hold. 8% distribution. | 2008-07-18 | |
| BUY | 39.850 | David Cockfield | One of the largest Bakken players. Experienced management. | 2008-06-20 | |
| BUY | 39.750 | Jennifer Stevenson | Great trust. Focused in the Bakken region, the very prolific oil reservoir in Saskatchewan. Just increased their distribution and their capital budget by about $200 million. | 2008-06-19 | |
| BUY | 40.390 | John Stephenson | Sitting on significant acreage in Saskatchewan’s Bakken oil play. | 2008-06-16 | |
| BUY | 36.750 | Peter Brieger | Would buy this oil trust as a package with the natural gas trust of Peyto Energy (PEY.UN-T). (See Top Picks.) Has access to the Bakken field, which is a huge play that is not nearly fully developed. | 2008-06-04 | |
| BUY | 37.570 | Bruce Campbell | Bakken Saskatchewan light oil play and are growing like a weed in this area. Thinks the distribution gets increased for sure in the next little while. Payout ratio is about 60%. Easy money has been made, but there is still 10% or so of growth. | 2008-05-26 | |
| Comment | 36.650 | Glenn MacNeill, P.Eng. | Recently announced results and were on the mark. Has been a very steady increasing performer. About 80% plus oil. 80% of their lands are in Saskatchewan, which is promised not to change the royalty regime. Should continue to do very well. | 2008-05-16 | |
| BUY | 34.750 | Michael Simpson, CFA | (Market Call Minute.) Great oil/gas trust with great exposure to oil in Saskatchewan. | 2008-05-14 | |
| BUY on WEAKNESS | 33.830 | Sandy McIntyre | (Market Call Minute.) A hold, but buy it on dips. Went up too fast for him. | 2008-05-05 | |
| BUY | 31.970 | Peter Brieger | Has exposure to an oilfield in Saskatchewan that overlaps and goes into the US. Have vast undeveloped acreage that will shore up their reserves substantially. 7.3% yield. | 2008-05-01 | |
| Comment | 31.970 | Dennis Dasilva | Very focused company in the Bakken region. Thinks it will convert back to a corporation. | 2008-05-01 | |
| HOLD | 32.790 | Peter Brieger | As an overview, he wouldn't sell any oil/gas income trust right now given what natural gas and oil is doing. | 2008-04-17 | |
| BUY on WEAKNESS | 33.350 | Ben Cheng | Management team is one of the best in the industry. Exploiting some of the Bakken region in southeast Saskatchewan, which is all the rage. Has gotten a little ahead of itself and it wouldn't surprise him if it pulled back a little. Depends on where crude oil trades in the next 2 or 3 months. | 2008-04-16 | |
| BUY | 33.350 | Michael Decter | Had been looking to buy on a pullback but it didn't happen. Not sure he would chase it, but buying in the low $30's will give you good value. A very good trust. | 2008-04-16 | |
| TOP PICK | 32.490 | Michael Sprung | 7.4% yield. One of the early players in the Bakken play in Saskatchewan. Their netbacks at current prices are around $85. | 2008-04-15 | |
| BUY | 27.150 | Norman Levine | One of the best royalty income trust operators. | 2008-03-10 | |
| BUY | 27.310 | Peter Brieger | Penn West Energy (PWT.UN-T) created a new company that is run by this management. Recently acquired part of another company using this new company and Crescent Point gets the other part. | 2008-02-28 | |
| Comment | 27.400 | Sandy McIntyre | Well run company that has locked on to the largest position of an oil play in southeast Saskatchewan, the Bakkens. The technology used will deliver very good finding and development costs. 8.75% yield. He has taken some profits off the table. | 2008-02-26 | |
| BUY | 24.460 | John Stephenson | One of the few royalty trusts that has a very unique strategy. Primarily oil focused and is in the Bakken play in Saskatchewan. Has very little of the risks that you would see with some of the others. | 2008-02-08 | |
| TOP PICK | 23.960 | Dean Orrico | About 35% of its production comes from a relatively new but promising Bakken field in southeast Saskatchewan. Good growth profile. | 2008-01-29 | |
| BUY | 23.210 | Michael Simpson, CFA | 3 good balanced and diversified energy trusts would include Arc Energy (AET.UN-T), which is evenly weighted between oil and gas, Crescent Point Energy (CPG.UN-T) at about 78% oil and a great play in Saskatchewan or Enerplus Resources (ERF.UN-T) with oil sands and exposure. All 3 are excellent value right now. | 2008-01-22 | |
| TOP PICK | 21.980 | Ben Cheng | Oil focused and will probably continue to be one of the top performing trusts for 2008. Have been active in acquisitions in the Bakken regions. Severely under priced. Yield is very safe. | 2008-01-21 | |
| BUY | 23.920 | John Stephenson | It is possible that they could come back to a private corporation. One of the best names in the oil/gas royalty’s space. Producing out of Saskatchewan. Good management. | 2008-01-08 | |
| BUY | 24.800 | Joanne A. Hruska, CFA | They have gone hard into the Bakkens in SE Saskatchewan. Recently did an acquisition of Innova Exploration, which had a very large suite of assets in this area. She believes this could add another $5 of value. She is a big fan of this company. | 2007-12-05 | |
| BUY | 23.810 | Bruce Campbell | 10% yield. Had a $24/$25 target in mind so doesn't think it goes up much further. They are in the Bakken area of southeast Saskatchewan, which is growth and avoids the Alberta royalty factor. | 2007-11-22 | |
| PAST TOP PICK | 23.020 | Michael Simpson, CFA | (A Top Pick Nov 3/06. Up 35.6%.) Consolidating the Bakken oil play in Saskatchewan so is 85% oil with no royalty review. Good management. Still a Buy. | 2007-11-08 | |
| BUY | 23.520 | Patrick Kim | Operates mainly is Saskatchewan, so not affected by the Alberta royalty issues. Predominantly an oil producer. Feels they will continue their momentum. Have nice tuck in acquisitions. | 2007-11-02 | |
| HOLD | 22.210 | Bruce Campbell | The stock has done well lately because they are highly in Saskatchewan and highly into oil, so the Royalty will have minimal impact. Secondly, they closed the acquisition of Nova (?)
It's no longer a value play because it's gone up so much, but with the dividends, he would still hold it. | 2007-10-24 | |
| BUY | 21.450 | Adam Thomas | Assets mainly based in Saskatchewan. Bakken is a huge resource play. Have about 200,000 acres. Recently purchased Innova (IXL-T) for a pretty hefty price but it has made them the dominant player in this 1.6 billion-resource play. Trust model is quite sustainable. Low payout ratio. 11% yield. 86% light oil. | 2007-10-05 | |
| TOP PICK | 20.760 | Michele Robitaille | About 75% weighted to oil and focused on large pools of oil and have a good track record of increasing reserves. Limited exposure to Alberta sold the royalty review will have little effect. Have about 11.2 year reserve life index. Sustainable payout ratio of 76%. | 2007-10-03 | |
| BUY | 20.020 | Peter Brieger | Likes it because it is very active in the Mackin (?) oilfield in Saskatchewan. Doesn't expect it will be a takeout. | 2007-09-25 | |
| TOP PICK | 19.260 | Ben Cheng | Oil/gas. Good management team. Solid balance sheet. Growth will come predominantly from the Bakken region. Undervalued and is looking for 20%-25% upside. | 2007-09-05 | |
| BUY | 18.900 | John Stephenson | Roughly 80% oil and 20% gas. In a very prolific region. The geologic formations stretches into North Dakota. Very well run. 12.6% yield. | 2007-08-08 | |
| BUY | 20.500 | Ben Cheng | One of the better operators. Have been good through the drill bit as well as through acquisitions. Good prospects going forward. | 2007-07-23 | |
| PAST TOP PICK | 19.850 | Michael Simpson, CFA | (A Top Pick Nov 3/06. Up 13.8%.) 87% oil weighted. Acquired Mission Oil in February giving them a tremendous light oil pool. Good management. Have 4 years of drilling opportunities internally. | 2007-07-04 | |
| Comment | 19.630 | Peter Brieger | One of his favorite oily trusts. One of the major attractions is the "Baken field" which joins the US and Canada and supposedly a billion barrels plus. So many opportunities there. Hasn't bought recently. | 2007-06-29 | |
| PAST TOP PICK | 20.180 | Dean Orrico | Then $17.60
At the time they were in the middle of their transaction to buy Mission Oil and gas. That has concluded now, and he feels that this is still a good entry point for this stock. | 2007-06-14 | |
| TOP PICK | 20.180 | Alan Blake | Significant upside from here. They've identified 800 to 1000 drill locations which they will use over then next two years.
Risks are, commodity price risk, and seasonality in oil prices.
Buy it for the long term. | 2007-06-14 | |
| HOLD | 20.040 | Michele Robitaille | A high quality trust. Focused on large oil in place. Looking at increasing their reserves by improving production techniques. Have had a nice run up, are a bit expensive. | 2007-06-11 | |
| BUY | 20.710 | Peter Brieger | He owns and likes it.
Has been fighting it's way back up from the October announcement. It's involved in a billion dollar pool based in Saskatchewan stretching into the states.
But he's reluctant to buy because they don't know what rules are going to be. | 2007-06-04 | |
| TOP PICK | 20.330 | Ben Cheng | Very good management team. Good set of oil/gas assets, especially with the merger of Mission Oil. Bullish on oil/gas. Undervalued. | 2007-05-29 | |
| BUY | 18.900 | John Stephenson | Very impressive reserves in Saskatchewan. Over 800 drilling opportunities. Can double reserves within 2 years. Large hedge position for 2007 and 2008. Very oil weighted. | 2007-04-30 | |
| DON'T BUY | 18.480 | John O'Connell, CFA | Wouldn't be a buyer. Not a fan of oil/gas trusts. | 2007-03-30 | |
| HOLD | 18.900 | John Stephenson | Highly oil weighted, which he feels is positive. Payout ratio is reasonable and they have clean balance sheet. Over the next 4 years, it has the ability to grow into the expected taxation. | 2007-03-27 | |
| BUY | 18.590 | Michele Robitaille | Because of their tax pools, not expected to pay any tax until 2016. Have over 400 drilling locations, so can grow by the drill bit. Have some good hedging. | 2007-03-23 | |
| WATCH | 18.450 | Peter Brieger | Once the rules and regulations on income trusts are clear, he would probably be a buyer. Its major attraction is the recent acquisition of Mission giving it a major new field for drilling. | 2007-03-21 | |
| STRONG BUY | 17.710 | Michael Simpson, CFA | About 75% oil weighted. Have an excellent play in Saskatchewan. Trades at a very low cash-flow multiple. Recently acquired Mission (MSO-T) and could be acquiring other small companies that are having financial difficulties. 13% yield. Undervalued. | 2007-03-20 | |
| SELL | 16.700 | Ross Healey | Not really stuck on this one. | 2007-03-07 | |
| BUY | 16.390 | Bruce Campbell | 50% of their oil is hedged at $70 US for 2007 and $75 for 2008. 15% yield. | 2007-03-06 | |
| HOLD | 17.090 | Ben Cheng | Strong management team and a good portfolio of assets. | 2007-03-02 | |
| Comment | 17.090 | Peter Brieger | Once the rules on trusts are clear, there will be some activity. This one has one of the most interesting oil pools in Saskatchewan and Manitoba. Recent acquisition of Mission (MSO-T) gives them a great horizon going forward. | 2007-03-02 | |
| PAST TOP PICK | 17.950 | Michael Simpson, CFA | (A Top Pick Nov 3/06. Up 2.8%.) Merged with Mission Oil (MSO-T) making them 2nd largest in Saskatchewan. Good management. About 50% hedged. Long reserve life. Still a Buy. | 2007-02-23 | |
| WAIT | 17.080 | Peter Brieger | Major attraction going forward is its acquisition of Mission Oil (MSO-T), which is part of a major oilfield in Saskatchewan and into the US. Once the confusion is over regarding income trusts, he would be a buyer. | 2007-02-19 | |
| BUY on WEAKNESS | 17.070 | Glenn MacNeill, P.Eng. | Have a very active gas-hedging program. Have made good acquisitions. Heavily gas weighted. | 2007-02-16 | |
| BUY | 17.550 | Bruce Campbell | His favourite trust. 50% of their oil is hedged at $70 US for 2007 and $75 for 2008. Have all kinds of targets for 2, 3 or 4 years of growth. 15% yield. | 2007-02-05 | |
| TOP PICK | 15.930 | Robert Lauzon | Oil weighted. Oil should trend back to $55-$60 throughout 07. If so, the stock should move back to $17-$18. In the meantime, you are getting a 15% yield. 40% of their oil is hedged at $70, so doesn't think it will have to cut distributions. Trying to acquire Mission Oil & Gas (MSO-T), which is a nice growth story. | 2007-01-22 | |
| BUY | 16.300 | John Stephenson | Merging with Mission Oil (MSO-T). Both are light oil and in the same area. Very favourable balance sheet, lots of drilling prospects and a reasonable reserve life. | 2007-01-05 | |
| Comment | 17.280 | Peter Brieger | Likes their Saskatchewan Battrum field. If they are successful in getting hold of Mission (MSO-T) it will be a terrific story to own. | 2006-11-29 | |
| Comment | 15.780 | John Stephenson | Acquiring Mission Oil (MSO-T). Both stocks have dropped with the trust tax changes. There is now concern that the government may restrict the use of units to finance acquisitions. Not sure what happens now. | 2006-11-16 | |
| PAST TOP PICK | 16.120 | Dean Orrico | (A Top Pick June 23/06. Down 25.7%.) Still likes. Resource play in southern Saskatchewan. Good quality management. Relatively low payout ratio. Good assets. | 2006-11-10 | |
| TOP PICK | 17.310 | Michael Simpson, CFA | Recently acquired Mission Oil (MSO-T), a light oil play in Saskatchewan. Feels the street is not giving credit for these assets. Low operating costs. Good management. | 2006-11-03 | |
| BUY | 20.050 | Kevin Hall BComm, CFA | Has been very active on the acquisition front. Would like to see them slow down a bit and consolidate what they have. Very good balance sheet. Very good company and good valuation. | 2006-10-27 | |
| BUY | 20.050 | Robert Toole | Have proven to be very ineffective purchasers and exploiters of oil assets. | 2006-10-27 | |
| BUY | 19.960 | Robert Lauzon | Acquired Mission Oil (MSO-T) at a high price versus comparable acquisitions, but got some really high quality issues along with some land values. Yields about 12%. Good things to come. | 2006-10-20 | |
| TOP PICK | 17.600 | Dean Orrico | Has been pretty beaten up because of an acquisition of Mission Oil and Gas. He can see some real upside on this with a real growth in reserves.. | 2006-10-06 | |
| DON'T BUY | 16.900 | John O'Connell, CFA | 14.2% yield. Income trusts had a pretty strong pounding. The market is indicating that oil is going down. | 2006-10-03 | |
| TOP PICK | 18.090 | Robert Lauzon | He really likes this trust. It has a 13.9% yield. It is a buy at 18.00. | 2006-09-29 | |
| BUY on WEAKNESS | 22.000 | Glenn MacNeill, P.Eng. | The recent pullback is probably going to continue over the next couple of months, which will give you a good buying opportunity. Pick a bad day and buy. Good, gas weighted trust. Have been able to extract more through developmental engineering than through exploitation techniques. Relatively low risk. | 2006-09-08 | |
| BUY | 22.650 | Sandy McIntyre | Has a good asset base. Good job in managing its production. Acceptable payout ratio. A commodity cyclical that depends on the price of oil. | 2006-07-28 | |
| TOP PICK | 22.600 | Greg Guichon | An excellent play on oil. They made some interesting acquisitions. Good management. Excellent technical expertise. 10.5% yield. | 2006-07-14 | |
| BUY | 21.900 | Bruce Campbell | An oily trust. Has been making add-on acquisitions. Management has been good at this and it is showing growth. Longer term, his concern would be that, as it makes more acquisitions, it would be harder for it to grow and become more of a maintenance trust. | 2006-07-05 | |
| BUY | 21.830 | James Leung | Weighted a little bit more are on the gassy side. Continuing to make acquisitions, so the percentage will change. Payout ratio is very comfortable so shouldn't be affected too much by changes in gas prices. | 2006-06-30 | |
| TOP PICK | 21.770 | Dean Orrico | (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. | 2006-06-23 | |
| BUY | 22.750 | Greg Guichon | Reserve life is 7/8 years. Likes management which is a very conservative group. Have consolidated in a geographic area and have got to know the area very well. Made some smart acquisitions. | 2006-04-28 | |
| BUY | 22.480 | Michael Simpson, CFA | More of a focus to oil. Core holdings in Saskatchewan and Alberta. Payout ratio of about 67/68%. Excellent management. | 2006-03-31 | |
| BUY on WEAKNESS | 22.420 | Robert Lauzon | Oil weighted. The reserve life index has been moved from 8 years to over 11 years. Have done a great job of acquiring properties and growing their reserve life. | 2006-03-24 | |
| TOP PICK | 21.750 | Dean Orrico | One of the steady Eddies in the oil/gas trust business. Making 2000/3000 BOE acquisitions. Good technical team. Trades at a discount to the market. | 2006-02-03 | |
| WEAK BUY | 20.700 | Bill Harris | Crescent PointEnergy Trust (CPG.UN-T) and Bonavista Energy Trust (BNP.UN-T) are his 2 favourite income trusts. Extremely well run businesses. Great upside. His problem is that because of the trust structure with the declining asset base, it has a very different profile than a regular type of investment. Getting expensive and would like them when oil is $35. | 2005-11-24 | |
| BUY | 19.080 | Robert Lauzon | Long term positive on light/sweet oil such as this one, Arc Energy (AET.UN-T) and Enerplus (ERF.UN-T). | 2005-04-08 | |
| VAGUE | 19.850 | Sandy McIntyre | Expensive. Qualitatively managed. | 2005-03-04 | |
| WAIT | 17.490 | Bill Harris | One of the very few trusts that has the ability to grow their reserve base within their internal asset base. Very worried about the oil price coming off, so this is one he would buy if oil came down to $30. | 2005-01-07 | |
| BUY | 16.000 | Peter Brieger | Likes it the most of the oil trusts. | 2004-10-13 | |
| BUY | 16.490 | Blair Wilson | Has a sector outperform recommendation on it. Trading at 100% of its implied net asset value. Reserve life of 5.1 years. Distributions should continue at the current rate. | 2004-10-01 | |
| HOLD | 14.950 | Blair Wilson | Favorable towards this stock although on weaker oil prices, it is more levered to oil and could have some weakness. Has a sector outperform. | 2004-07-22 | |
| BUY | 14.740 | Peter Brieger | A good entry point. | 2004-06-17 | |
| BUY | 14.300 | Hugh McCauley | At $40 oil, be cautious on oil/gas stocks. Would love to see oil at $32/34 and within a buy. A great company. Superior to all the large-caps because it can grow from 8,700 barrels to about 13,000 over the next couple of years. | 2004-05-13 | |
| WAIT | 15.400 | Dean Orrico | A newer trust and would like to see it perform before including in their portfolio. | 2004-05-05 | |
| DON'T BUY | 14.550 | Peter Brieger | Prefers Peyto Energy and Focus Energy. | 2004-03-01 | |
| PAST TOP PICK | 13.810 | Bill Harris | (A top pick Jan 2/04. Up 4.5%.) Still likes very much. A trust that has the ability to add reserves. | 2004-02-16 | |
| TOP PICK | 13.200 | Bill Harris | Great way to own the oil and gas business. Relatively new, and misunderstood. Most potential in the trust sector to grow their reserves internally. (able to utilize more of their large quantity of oil) | 2004-01-02 | |
Experts that have talked about Crescent Point Energy Trust
