| BUY | 1.940 | Joanne A. Hruska, CFA | Now trading at less than 2X cash flow. Good buy right now. | 2008-09-12 | |
| BUY | 2.580 | Joseph Schachter | (Market Call Minute.) He loves it. It beat his numbers in the 2nd quarter. Thinks there will be 7000 BOE's a day by the end of this year. Balance sheet is in great shape. | 2008-08-26 | |
| TOP PICK | 2.570 | Joseph Schachter | Just announced an acquisition of natural gas assets of 6500 BOEs a day. This makes their total numbers averaging 6600, which will rise to 8000 next year. Doing about $1 annualized cash flow and he sees $1.30 next year. Inordinately cheap. | 2008-07-25 | |
| BUY | 3.130 | Joseph Schachter | 16% oil and 84% natural gas. 6056 BOE’s a day in Q1 and looking for 6400 average for 2008. $90 million of debt, which the company plans to pay down. | 2008-06-05 | |
| BUY | 2.800 | Jennifer Stevenson | Turnaround story. Management did a spectacular job in getting out of an over leveraged balance sheet, doing some swaps on assets and managing to grow the production base without spending all of their cash flow. 6000 BOE's a day of gas is less than 1.5 debt to forward cash flow. Great growth profile. Good Buy in even the $3 range for a long-term hold. | 2008-05-13 | |
| PAST TOP PICK | 2.300 | Joanne A. Hruska, CFA | (A Top Pick Dec 5/07. Up 22%.)Very gas weighted. Still buying. If you see at approaching $3.00, consider Selling. The suite of assets they have are trading at very cheap multiples. | 2008-04-14 | |
| STRONG BUY | 1.920 | Joseph Schachter | Natural gas. He is positive on this story. Thinks the company will ramp up production. Currently around 5600 BOE's a day and think it will average about 6400 a day and potentially exit the year at 7000. | 2008-04-04 | |
| TOP PICK | 2.310 | Joseph Schachter | Natural gas. Exited the year at over 5880 cities and he sees them doing over 6100/6200 BOE’s and exiting the year at 7000. Generates cash flow of $1.20, so is trading at under 2X cash flow. NAV is about $2.85. | 2008-03-07 | |
| BUY on WEAKNESS | 2.170 | Joanne A. Hruska, CFA | Had about a 30% moved in the last few weeks so there is some potential for a pullback. Would prefer to buy it closer to $2. | 2008-02-22 | |
| STRONG BUY | 1.780 | Joseph Schachter | In Q3 they grew their production to 5700 BOE's up from 5090 in Q3 of 06. By the end of 2008 they should be producing more than 7000 BOE’s. NAV is $2.85 to the end of 07. | 2007-12-19 | |
| TOP PICK | 1.750 | Joanne A. Hruska, CFA | Not very well covered by research. Feels NAV is closer to $3. Trading at less than 2X cash flow. Just made a strategic swap of assets and should give them even better success than their previous assets. Feels they have their debt under control. | 2007-12-05 | |
| BUY | 1.440 | Joseph Schachter | 83% natural gas, 17% liquids. Did about 5379 BOE's in Q2, up from 4300 in Q1. Expect them to average 6500 BOE's a day in 2008 and exiting at over 7000. Debt of $110 million, about 2.5X relative to cash flow. A little harsh when you have a cheap natural g | 2007-09-11 | |
| TOP PICK | 1.960 | Joseph Schachter | In Natural Gas, but they had a balance sheet problem.
They think they've clean up their act.
A lot of upside in terms of land and other core areas.
It was a 4 or 5 dollar target a few years ago, he thinks it will get back there. | 2007-06-04 | |
| HOLD | 2.200 | Joseph Schachter | Heavily weighted to natural gas. Has a high debt load, but manageable. Volumes of production have not gone up higher than expected. | 2007-04-24 | |
| DON'T BUY | 1.870 | Glenn MacNeill, P.Eng. | This is the season where you want to buy companies where stocks are weak. Would not be his first choice. Recently did an issue to raise capital. Have been spending money but it hasn't worked out well. | 2007-02-16 | |
| SELL | 2.010 | Robert Toole | Quite negative on this stock. The company has a debt problem Natural gas prices are quite low right now and it is having to sell assets at lower prices to pay down its bankers. | 2007-01-18 | |
| HOLD | 2.710 | Joseph Schachter | Just reported. Production increased 23% but the market was looking for much more. A very high debt load and will only generate about $60 million of cash flow. Debt to cash flow is 2:1. If gas price recovers to $9, debt won’t be as much of an issue. | 2006-11-15 | |
| HOLD | 2.880 | Joseph Schachter | This company has been punished by the commodity call. They have balance sheet problems and lots of debt. But they have lots of assets and he thinks they will survive. Recommends staying with them. | 2006-09-29 | |
| BUY on WEAKNESS | 3.890 | Glenn MacNeill, P.Eng. | Like a number of juniors, it has found its expenses going up and production numbers declining. Likes management and their slate of assets. | 2006-09-08 | |
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| DON'T BUY | 4.970 | Robert Floyd | A little bit negative on some of the auto part players. | 2006-06-02 | |
| TOP PICK | 5.240 | Joseph Schachter | Current production is 6400 BOE’s a day. Focused on natural gas. Have a deal with Encana where they've got access to their lands. Will be about 7000 BOE’s a day in the 2nd quarter exiting the year at 8000. Have at least 3/5 years of work ahead of them. Buy and hold for a couple of years. | 2006-05-05 | |
| BUY | 5.210 | Glenn MacNeill, P.Eng. | Has a good future in front of it. They have some “ behind pipe” production is well as some plays that look very interesting. Well managed. | 2006-01-18 | |
| BUY | 3.500 | Robert Lyon | Made a few acquisitions in the past few months that gave it a leg up. Thinks it's still going higher. One of the cheaper stocks out there. Well managed. Pretty good asset base. | 2005-01-11 | |
Experts that have talked about Delphi Energy Corp.
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