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| SELL | 8.050 | Jeff Parent | Just Said "Sell" | 2008-10-10 | |
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| BUY | 14.350 | John Stephenson | An excellent trust. Good balance sheet. Hiccup in the 1st quarter but has come on strong. Conservative payout ratio. Starting to expand geographically. One of the better managed trusts. | 2008-08-22 | |
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| BUY | 14.380 | Sandy McIntyre | 14%-15% distribution. If you hold for 3 years, you have 45% of your investment back. | 2008-08-15 | |
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| HOLD | 14.900 | Michael Simpson, CFA | 50/50 oil and gas. Have some interesting properties in northeast B.C. Low payout ratio. Trades at a lower valuation than its industry average. | 2008-08-13 | |
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| HOLD | 15.020 | Ben Cheng | Prospects look good going forward. Recent quarter had mixed results but given the current price environment, has a lot of room to raise its distributions. | 2008-08-07 | |
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| BUY on WEAKNESS | 15.230 | David Cockfield | He is picking away at trusts he likes and tries to Buy on weakness. Buying for yield. Thinks oil and gas will stabilize. | 2008-08-01 | |
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| BUY | 14.850 | Jeff Parent | Decent rally with the inevitable pullback. Can see it going back up to $16 but not beyond $18. You have to really watch commodity prices. If it drops back to $14.30, he could see it hitting the first resistance point of $13 and then perhaps to $12. Quite hopeful on oil/gas and related sectors. | 2008-07-30 | |
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| HOLD | 15.000 | Glenn MacNeill, P.Eng. | Well run company. Wouldn't be one of his first choices, but a good performing trust that is going to trade oil prices. 13% yield. | 2008-07-18 | |
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| WATCH | 16.740 | Bill Carrigan | Chart indicates a rising wedge the last few months, which is bearish. If it violates the low in June, he would start reducing. The sector itself is clearly running out of steam. | 2008-07-03 | |
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| Comment | 15.450 | Michael Simpson, CFA | A pretty good oil/gas trust. In these high commodity prices, it should do well. | 2008-05-14 | |
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| HOLD | 15.110 | Paul Thornton | Has run from about $12-$13 to $15 which is pretty good percentage for an income trust. There may be a short-term pullback. Stick with your winners, especially in the income trust side. 13% yield. | 2008-05-07 | |
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| HOLD | 15.120 | Kevin Hall BComm, CFA | Benefiting from the higher energy prices. There is potential here for them to increase distributions. 13% yield. | 2008-05-06 | |
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| Comment | 13.210 | John O'Connell, CFA | A quality asset. Pays a good level of income. Has had a nice little run. There is an impending deadline on income trusts. It could be taken out by a larger play, but wouldn't expect larger premiums to be taking place. | 2008-03-03 | |
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| BUY | 12.160 | Dean Orrico | Has good capital behind it if it needs to make acquisitions. Distribution is sustainable in 08. Stock has been beaten up and this is a good entry point, giving a 12%/13% yield. Well run. | 2008-01-29 | |
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| HOLD | 11.340 | Kevin Hall BComm, CFA | A decent name, it is not in the top tier of the sector. We'll give you some decent returns and yield. | 2007-12-04 | |
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| BUY | 12.360 | Michael Simpson, CFA | 55% oil and 45% gas. An average trust, but valuation has come down a lot, so caused him to change his mind. Yield is high because investor sentiment is not good. Made an acquisition this summer that was more weighted to natural gas. | 2007-11-08 | |
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| Comment | 13.220 | Jeff Parent | Looks fairly good. Has had big sell offs and everyone that wanted out has now sold. Nice consolidation level in May-June. Lows are higher than previous lows. Has to break through the resistance level of $13.55. If itt can, he can see $15.30. | 2007-07-06 | |
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| DON'T BUY | 12.140 | Ben Cheng | Have had a strong connection with Manu Life (MFC-T) in the past. Does not own good assets. Reserve life is below average. | 2007-03-02 | |
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| BUY | 12.600 | John Stephenson | More oil weighted. Very good management team. Could see some decent upside on this one with a total return approaching 20%. | 2007-02-21 | |
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| BUY on WEAKNESS | 12.520 | Robert Lauzon | Oil weighted and feels that oil at $51-$52 is too cheap. If oil reaches $56-$50, the stock will do well. Would buy at $12. | 2007-01-22 | |
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| BUY | 12.280 | Robert Toole | This is one of the trusts that at these levels you are in fairly good position on. Trading at about its underlying net asset value. This will form a very strong base under its unit price. | 2007-01-18 | |
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| HOLD | 12.850 | Ravi Sood | Have reduced distributions. | 2006-11-17 | |
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| HOLD | 17.920 | Robert Lauzon | Adds a lot of diversification. | 2006-10-20 | |
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| Comment | 20.750 | Sandy McIntyre | Has a fairly high current yield reflecting the risk. | 2006-07-28 | |
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| BUY on WEAKNESS | 20.280 | David Cockfield | Partnered with an insurance company which allows them to get into the play. A nice yield of around 11%. Buy under $20. | 2006-07-13 | |
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| BUY | 19.350 | Ben Cheng | Has had a tremendous transformation in the last 12/18 months due to a change in their management team. They are leveraging off oil/gas property with their partner Manu Life. | 2006-05-19 | |
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| WAIT | 15.950 | Dean Orrico | A mid quality name in the space. Has done a good job historically. New CEO. Taking a wait and see approach on this one. | 2005-09-30 | |
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| BUY | 15.910 | Glenn MacNeill, P.Eng. | One of the finer middle tier ones. Good properties and reasonably good management. | 2005-08-15 | |
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| BUY | 14.150 | Garth Jestley | Likes this one. | 2005-06-03 | |
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| BUY | 13.390 | Glenn MacNeill, P.Eng. | Pays about a 14% yield. Distribution is about 70% of its free cash flow. If you add in capital expenditure you're about 102% which is a pretty good number. A reasonably good slate of properties. | 2005-04-29 | |
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| WEAK BUY | 14.050 | Glenn MacNeill, P.Eng. | Payout ratio is fairly high at about 80%, so any softness in production or commodity they would have some difficulty. Have a very strong balance sheet. Good slate of assets. Yield is about 13.6%. Some question as to whether they will be raising distributions. | 2005-01-14 | |
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| BUY | 13.370 | Matt Baillie | A decent company. Pays out as much as it makes and has to grow by acquisition. Pretty decent balance sheet. Fairly cheap. | 2004-12-10 | |
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| DON'T BUY | 13.800 | Blair Wilson | Basically have no oil/gas hedges, but in the present market this is OK. Have a 3 sector underperform rating. A concern on royalty trusts is their ability to maintain distributions through a cycle. Only 20% are funded through cash flow. | 2004-11-26 | |
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| DON'T BUY | 12.800 | Peter Brieger | Assets are depleting. There are other companies in this field that are better. This company is evaluated low. | 2004-09-02 | |
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| BUY | 10.760 | Glenn MacNeill, P.Eng. | Well-managed. A relatively short reserve life. High operating expenses. Good value. | 2003-12-18 | |
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| HOLD | 10.000 | Glenn MacNeill, P.Eng. | A well-run royalty trust.Good distributions. | 2003-08-21 | |
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| BUY | 9.450 | Peter Brieger | First class management. Good yield. A good long term hold. | 2003-06-16 | |
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| BUY | 9.000 | Ben Cheng | 17% yield. Good properties. Well managed. | 2002-12-09 | |
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| DON'T BUY | 9.970 | Sandy McIntyre | A high quality trust. Good management team. Excellent balance sheet. Has run through their inventory development opportunities. | 2002-04-22 | |
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| DON'T BUY | 8.600 | Ben Cheng | Good balance sheet but has some production deadlines. | 2001-12-03 | |
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| DON'T BUY | 9.000 | Sandy McIntyre | Expects distribution to be lower next year. | 2001-10-29 | |
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| BUY | 9.400 | Bruce Campbell | Expects future dividends about 1 1/2% a month. | 2001-08-17 | |
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| DON'T BUY | 9.420 | Bill Shaw | Reasonable results, but distributions not coming from cash flow, but from a rainy day fund. | 2001-08-16 | |
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| BUY | 9.050 | Glenn MacNeill, P.Eng. | declining revenue, but likes the trust. | 2001-07-09 | |
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| BUY | 9.700 | Bill Shaw | ( years on reserve life. Good mngmnt. | 2001-06-26 | |
Experts that have talked about NAL Oil & Gas Trust
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