| HOLD | 11.450 | Sandy McIntyre | One of the best operators of the types of rigs needed to drill tight gas wells. These are high-cost wells so you need the best operators to keep costs down. Have been expanding in the US and building capacity so it is a bit of a growth story. Converting to a corporation has shaken some holders, so would Hold for 2 years until this was over. | 2008-02-26 | |
| SPECULATIVE BUY | 10.160 | Kenneth P. Norquay, CMT | Has been in a downtrend and is hoping that a bit of a bottom is forming. If you buy, have a stoploss at its last low. Very good one for short-term speculation. | 2008-02-12 | |
| DON'T BUY | 10.070 | John Stephenson | (Caller's comments; Going back to a corporation. Will be paying a 6% dividend and moving a lot of their operations to the US.) One of the first test cases of conversion from a trust. Drilling in Canada is really a problem right now. When gas prices come down, drilling contractors get laid off. US is a highly competitive market and while they may have better rigs, results of a move there is yet to be seen. A good name, but wouldn't be backing up the truck. | 2008-02-08 | |
| SELL | 9.530 | Alex Ruus | Expect it will still drop some more. Fortunately they are outside of Canada. | 2008-02-04 | |
| Comment | 8.800 | Ben Cheng | Recently converted to a common stock structure, so reduced their payout significantly for 2008. Have moved a significant amount of their business outside of Canada. Sees drilling rigs and economics much more favourable in the US than it is here. All the drilling/oil services are currently in a bit of a head wind. | 2008-01-21 | |
| HOLD | 9.860 | Peter Brieger | Converting back to a corporation. What was surprising was that they had cut the distribution dramatically. If you are willing to take a 2 to 3 year view on a bet that the drilling cycle will pick up, treated as a Hold. | 2008-01-11 | |
| DON'T BUY | 9.350 | David Taylor, MBA, CFA | Just announced they are going to convert back from a trust to a corporation and they have cut their distributions. Well-run company and has grown significantly through acquisitions but the balance sheet is not that strong. | 2008-01-10 | |
| BUY | 9.870 | David Cockfield | Likes this one. Has gotten pretty badly beaten up. They have a good size fleet with good up-to-date rigs. Has recently bought some shares. | 2007-12-07 | |
| PARTIAL BUY | 9.640 | Joanne A. Hruska, CFA | Drillers are definitely the names you want to get into early on in the up cycle. Have about 110 rigs and 4 barge rigs. Their US exposure will definitely give them higher revenue than their competitors. They stock price is not reflecting this. | 2007-12-05 | |
| HOLD | 10.510 | Bill Carrigan | This trust has a very great story behind it, which a lot of institutions liked. However, the trend line was broken in June and the stock is now in decline. Part of this may be due to talk that they may un-trust. Feels it is into very deep support, so if you have it, he would continue to hold. | 2007-11-13 | |
| VAGUE | 11.580 | Michael Sprung | Has been under pressure. Whole sector has been depressed. | 2007-10-26 | |
| DON'T BUY | 13.690 | Ben Cheng | One of the most active acquirers of other drillers/service companies in the oil patch. Have done a tremendous job in the US. Going forward, because of natural gas prices, it is going to have some tough quarters ahead of it. Good management. | 2007-09-05 | |
| BUY | 13.760 | Michael Sprung | At its present price, he is going to consider looking at this one again. Fairly well run. | 2007-08-31 | |
| BUY | 12.700 | John Stephenson | Not a bad name. Would be cautious on service companies, as it is a bit early. Canadian oil field services are predominantly weighted towards gas producing companies. This is a reasonably good entry point. Diversified and has a newer fleet and some long-term contracts. | 2007-08-21 | |
| BUY | 13.860 | John Stephenson | Diversifying out of Canada and into the US. Has probably one of the best diversities of revenue. 9.9% yield. Earnings are coming out on Aug 9, so wait before buying. | 2007-08-08 | |
| Comment | 14.990 | Michael Simpson, CFA | Driller. 9% yield. Moving into some barge drilling in the Gulf of Mexico. Focuses on more modern rigs that can drill deeper. About 50% cash flow comes from the US. Debt level is a bit high. | 2007-07-04 | |
| BUY | 15.670 | Michael Decter | Of all the oil service companies, this would be at the top of his list. Good value. | 2007-06-20 | |
| BUY | 16.980 | Ben Cheng | Had run up quite a bit of debt in the past because of acquisitions, but good management/assets allowed them to skate through without too much difficulty. Very strong quarterly earnings compared to its peers. | 2007-05-29 | |
| BUY | 17.050 | Robert Floyd | Well-managed. Likes the overall oil service business right now. Good numbers coming of the Company. | 2007-05-11 | |
| BUY | 14.780 | Kyle McKay | Made a good acquisition a year ago. Focused more on deep drilling as opposed to shallow gas. Trades at about 5 X EBITA, which is extremely reasonable. | 2007-03-19 | |
| BUY | 14.510 | David Cockfield | Not keen on it as an oil trust, but likes it as a driller. They have new deep drilling equipment. Things have not been good for the drillers over the last 6 months, but thinks there will be a pickup. Good yield of about 9%. | 2007-03-15 | |
| WAIT | 13.820 | Michael Simpson, CFA | Have modern rigs operating in Canada and the US with about 50% revenue coming from the US. Their rigs are used for deeper drilling. Excellent company. Wait until April/May, which is the seasonally weak period. | 2007-02-23 | |
| SELL | 13.650 | John Stephenson | Would consider trading out of this and getting into a name that has some up tick when commodity prices turn. | 2007-02-21 | |
| PARTIAL BUY | 12.690 | Michael Simpson, CFA | And excellent, strong company. They are drilling rigs are modern allowing them to drill deeper gas wells. Try to stagger your purchases is there may be some weakness after Q1. It will be a survivor. | 2007-01-04 | |
| BUY | 13.850 | David Cockfield | Have a lot of good, up to date equipment. They tend to get fully booked because they have the right kind of rigs. Good price. | 2006-12-07 | |
| DON'T BUY | 14.000 | Norman Levine | Had most of its growth through acquisitions. With the changes in trusts, it will not be able to acquire like it did before. With the pullback of oil/gas companies spending, it won’t be as lucrative. | 2006-12-05 | |
| DON'T BUY | 13.740 | Ben Cheng | Energy service sector has been suffering. This trust has grown at a tremendous rate. A little cautious on it because of the large debt. | 2006-12-01 | |
| SELL | 12.350 | Ravi Sood | An excellent company with technological advantages with a very young fleet. If demand for rigs goes down, this will be the least affected. Would move out of this and into something with more short-term growth. Go back to it in the spring. | 2006-11-17 | |
| HOLD | 12.660 | Bruce Campbell | Been hit along with the other trusts. Cyclical and seasonal. Outlook looks better in the next quarter. | 2006-11-15 | |
| BUY | 11.690 | Patrick Kim | Attractively priced. They have one of the best fleets out there. | 2006-11-01 | |
| PAST TOP PICK | 14.940 | David Cockfield | (A Top Pick Sept 1/05. Up 4.5%.) Good drilling company. Good choice of rigs. | 2006-10-26 | |
| DON'T BUY | 13.500 | Sandy McIntyre | Focused on the deeper drilling. Better rigs with higher utilisation rates. Tend to be more gas focused so could have some slippage in day rates in a warm winter. Have somewhat higher financial leverage then he likes. Good management. | 2006-10-13 | |
| BUY | 16.160 | Glenn MacNeill, P.Eng. | Drilling company. Reasonably profitable and well-managed. Have made a number of astute acquisitions. | 2006-09-08 | |
| BUY | 16.400 | Jason Zandberg | An energy services company, but more in the drilling aspects. A little bit sensitive to commodity prices and drilling activity. | 2006-09-07 | |
| PAST TOP PICK | 17.250 | David Cockfield | (A Top Pick Sept 1/05. Up 19%.) Owns this for growth, not the yield. It has a light more growth potential. | 2006-08-30 | |
| BUY on WEAKNESS | 17.600 | David Cockfield | He doesn't treat this as an income trust as the yield is relatively low. He looks at them as a pure driller. From that standpoint, it really hasn't given much upside. Really likes the company. | 2006-08-16 | |
| DON'T BUY | 17.400 | Peter Brieger | Between this one and Cathedral Energy Services (CET.UN-T) he would probably buy Cathedral. Given the nature of the drilling business, he would stick with Precision Drilling (PD.UN-T). | 2006-08-14 | |
| BUY | 17.960 | Patrick Kim | One of its favourite names in oilfield services. Area has been volatile because of the spot price for natural gas. Looking at cash flows, they are reporting record numbers. Some concern on reduction of drilling, but this one is better placed because their rigs are on the deep side. | 2006-08-04 | |
| PAST TOP PICK | 15.970 | Ravi Sood | (A Top Pick Feb 10. Down 8%.) Has had significant volatility. Sold his holdings except for one fund. Setting up nicely again. Still a favourite to play for the back half of the year. | 2006-07-21 | |
| PAST TOP PICK | 16.860 | Greg Guichon | (A Top Pick Apr 28/06. Down 7.4%.) Getting caught in the decline of need of drilling rigs. A very good trust. | 2006-07-14 | |
| HOLD | 16.900 | David Cockfield | Yield isn't that high, but the growth prospects, the equipment base they are operating with and the management are good. Haven't been buying recently because of concerns that the drilling area is going to suffer. | 2006-07-13 | |
| BUY | 17.760 | James Leung | 3rd largest driller. Drilling has been very robust during the past winter. Relatively clean balance sheet to make acquisitions. Recent one in the US got them 20 more drilling rigs. | 2006-06-30 | |
| BUY | 17.230 | John Stephenson | An oilfields services company. The majority of the drilling out west is for gas so the prices have been a little weaker. A fast growing name they give you good upside to the natural gas story. | 2006-06-28 | |
| BUY | 15.880 | Neil Wickham | As long as energy stays high, the contract drillers will continue to do well. This company has an exceptionally good record over the last couple of years and should continue to do well in the next year or two. If there is a downturn in oil, there could be some weakness. | 2006-06-20 | |
| BUY | 16.050 | Glenn MacNeill, P.Eng. | Very good management team. Likes this sector. | 2006-06-16 | |
| DON'T BUY | 16.380 | Peter Brieger | If he were going to buy any drillers, he would prefer Trican Well Service (TCW-T) instead. | 2006-06-12 | |
| BUY | 18.350 | Norman Levine | A large Canadian oil service and drilling company. Has been extraordinarily successful in building and buying rigs. The price of this stock and oil are highly correlated. | 2006-05-30 | |
| PAST TOP PICK | 18.350 | Ravi Sood | (A Top Pick Feb 10/06. No change.) Good value at these levels. One of the best names you can own in this sector. | 2006-05-26 | |
| BUY | 17.050 | Ben Cheng | At about 50% payout ratio and their yield is about 5%. Good solid management group. Prospects for oil/gas servers companies is very good. | 2006-05-19 | |
| BUY | 17.520 | David Cockfield | Yield isn't that exciting on it, but likes it as a service company. Great operator. Expanding their fleet. | 2006-05-15 | |
| TOP PICK | 18.410 | Greg Guichon | A drilling trust. Good management. Payout ratio of about 60%. Made 2 acquisitions, one in Canada and one in the US. This gives them a firm foothold in the US. Rigs are in very sharp demand. Looking for further distribution increases this year. | 2006-04-28 | |
| DON'T BUY | 17.650 | Michael Sprung | You are getting 6.5/7% compared to a government bond of about 5% in what might be considered a volatile business. Would prefer having a 9/10% yield which would mean more of a pullback before he bought. | 2006-03-23 | |
| BUY | 17.190 | John Stephenson | The predominance of drilling in North America is gas related and low gas prices have hurt them. Nothing is more levered to gas than these service companies so, when gas goes up, this company should do well. | 2006-03-22 | |
| DON'T BUY | 17.190 | Wilf Gobert | Prefers Ensign Energy Services (ESI-T). | 2006-03-20 | |
| DON'T BUY | 16.870 | Sandy McIntyre | Remember the service sector is always more volatile than the industry that it serves. Trinidad and Cathedral are drillers relating to the oil and gas industry. Trinidad tends to drill deep wells, where they are targeting gas. Gas prices are relatively weak. They are seeing some investment changes that might affect Trinidad. Cathedral Energy is largely biased towards directional drilling, actively involved in oil. He owns Cathedral stocks, not Trinidad. | 2006-03-03 | |
| VAGUE | 16.810 | Robert Lauzon | Performed well over the past few years. It is a drilling stock. He does not mind this stock. Prefers Precision Drilling and Cathedral in which he owns. | 2006-03-01 | |
| BUY | 16.810 | Ben Cheng | Low payout ratio. Beneficiaries of the boom in oil services. Predicts strong earnings in the next 3 or 4 quarters. | 2006-02-25 | |
| TOP PICK | 17.800 | Ravi Sood | (A Top Pick Dec 9/05. Up 8%.) The recent sell-off makes a great buying opportunity. Extremely inexpensive at 7 X distributable cash flow. Great management team. | 2006-02-10 | |
| BUY | 18.940 | John Stephenson | Increasing spend in the drilling segment. 30% increase. Spending more money getting more money per unit. Tightness in supply drilling availability. | 2006-02-03 | |
| PAST TOP PICK | 17.870 | John Stephenson | (A Top Pick Nov 7/05. Up 22%.) A service company. There is a huge escalation in expenditures by oil companies. Day rates are increasing, there is more and more drilling to find more oil. | 2006-01-25 | |
| BUY | 18.510 | Greg Guichon | Likes the sector they are in. Management owns a large stake in the trust. Increased distributions six times since becoming a trust. Made some exciting acquisitions. Transforming themselves into an international player. | 2006-01-20 | |
| BUY | 17.170 | Patrick Kim | A good investment even at these levels. They were the best performing trust in the oil services sector. Have been helped by both energy prices and growth through acquisition. Be a little careful of Q1 result is as they may be weaker than expected because of the weather. A solid management team. Better value than some of its peers. | 2006-01-13 | |
| PAST TOP PICK | 15.820 | David Cockfield | (A Top Pick Sept 1/05. Up 8.4%.) In the service industry. They are adding more rigs. Good management. Still has good upside. Doesn't use this one as an income trust, but uses it as an investment in the service industry. | 2005-12-30 | |
| BUY | 15.950 | Peter Brieger | Has big expansion plans for 2006. Likes the oil service sector. They should do very well in ‘06 and possibly into ’07. | 2005-12-28 | |
| BUY | 16.170 | Sandy McIntyre | An oil services company. They are dependent on drilling holes in the ground to make money. Payout ratio is pretty decent. Like the entire service sector, they have been adding capacity. When and if we ever get a downturn in energy prices, drilling will slow down. Keep a close watch. | 2005-12-16 | |
| TOP PICK | 16.430 | Ravi Sood | Likes the energy service sector. This is one of his favourites. Recently did an acquisition. Have tremendous growth in their increase of distributions. Low multiple on distributable cash flow. | 2005-12-09 | |
| BUY | 15.850 | Gavin Graham | Likes the whole oil services sector because they are getting less and less gas/oil out for each well which means they have to keep on drilling more wells. | 2005-12-05 | |
| TOP PICK | 16.050 | David Cockfield | Has a yield of about 6%. Likes the oil services sector. Most of their rigs are new. There is a desperate shortage of good crews, rigs. | 2005-11-25 | |
| TOP PICK | 14.780 | John Stephenson | Drillers and refiners are a great place to park some money. The 3rd largest drilling company. Has had a great record of producing good cash flows and distributions. | 2005-11-07 | |
| BUY | 14.840 | Patrick Kim | An excellent play. Just reported very strong numbers and perhaps a little bit light compared to some aggressive outlooks. A fantastic growth story. | 2005-11-04 | |
| PAST TOP PICK | 14.200 | Norman Levine | (A Top Pick Aug 15/05. Down 1% not including distributions.) This is a good oil service stock. The outlook for the oil/gas service sector is better than oil/gas itself because a lot of money now is going to be going into drilling. | 2005-10-25 | |
| BUY | 16.350 | Norman Levine | Feels there's lots more upside. The outlook for the oil service companies is much better than it is for the oil and gas companies. Should go much higher. | 2005-09-28 | |
| PAST TOP PICK | 16.220 | Norman Levine | (A Top Pick Aug 15. Up 13%.) Would still be a buyer at this price. Services oil wells in western Canada. Feels the oil service business is going to dop better than the oil companies. | 2005-09-20 | |
| BUY | 16.000 | Greg Guichon | Really likes this company. Energy prices are going to stay very high for a very long time because of the basic supply/demand characteristics of the world. | 2005-09-09 | |
| TOP PICK | 14.500 | David Cockfield | Have 35 rigs and have been building rigs like crazy. It's in a long growth area. Having a little bit of trouble getting parts for their rigs, but thinks that's a transitory thing. They're small enough that they can double their rig count in the next couple of years which wil give them some good growth. | 2005-09-01 | |
| PAST TOP PICK | 13.960 | Patrick Kim | (A Top Pick Jun 10/05. Up 10%.) Q2 numbers were a little soft in the service industries due to the wet spring and investors are looking past that. Still seeing a lot of high day rates, so expecting big things in the latter half of this year. Thinks there was some profit taking above the $14 level. | 2005-08-19 | |
| WEAK BUY | 13.500 | David Cockfield | A very good drilling company. If you are into income trusts as an income producer, this one doesn't really qualify. He owns it as a drilling company, not an income trust. | 2005-08-18 | |
| TOP PICK | 14.280 | Norman Levine | (A Top Pick Jun 6/05. Up 15.5%.) Feels the oil service sector is underpriced compared to the price of energy. Also thinks that as the price continues to stay up here, more and more energy copmpanies who have been sitting on cash will be looking at this as a possible acquisition. Well run. | 2005-08-15 | |
| BUY | 14.280 | Glenn MacNeill, P.Eng. | A very good company. There are rising prices in oil field services. Margins are increasing. | 2005-08-15 | |
| BUY | 14.240 | David Cockfield | All oil service companies such as Ensign (ESI-T), Precision (PD-T), Trinidad (TDG.UN-T) and Wellco (WLL.UN-T) are doing extremely well. Had a very wet spring which tied up some of the rigs and could affect the earnings. Yield is relatively low on this one, but it is a good service company. | 2005-07-28 | |
| TOP PICK | 13.480 | Norman Levine | One of the biggest drillers in Western Canada. Likes the drilling industry because with the price of oil staying high, oil companies are just now taking all that excess cash and starting to spend it. | 2005-07-12 | |
| BUY | 12.500 | Norman Levine | A good way to play the oil sector. This one is a favourite of his. | 2005-06-22 | |
| BUY | 13.130 | David Cockfield | Has an aversion to business trusts in general, but he is reconsidering as far as this company goes. It has come up with a lot of pluses. Could be on his watch list before long. They are in a good growth area. | 2005-06-15 | |
| TOP PICK | 12.400 | Patrick Kim | The preferred way to participate in the price of oil. Gives you access to one of the fastest growing energy service providers. Even in a downturn, with their conservative payout ratio, they will be able to maintain their distributions. | 2005-06-10 | |
| TOP PICK | 12.310 | Norman Levine | An oil service company. Raised funds through a new issue and is using the money to build new rigs in Canada and the US. The rigs are pre-sold to major players, so they know what their revenues/costs are ahead of time. | 2005-06-06 | |
| BUY | 11.700 | Jean-Francois Tardif | What's driving the earnings are the strong natural gas prices and the very high decline rates in wells. Making many accretive acquisitions and will probably continue doing so. | 2005-06-01 | |
| TOP PICK | 11.490 | Norman Levine | Pays almost 8%. Did a new issue to pay for new drilling rigs they are putting together. 3rd biggest driller in western Canada. Growing quickly. Conservatively run. Booked up for the next 3/5 years. Good management. | 2005-05-25 | |
| WATCH | 10.820 | Sandy McIntyre | Spring breakup. 1st qtr likely to be dissapointing. As US dollar depriciates oil will rise. | 2005-03-04 | |
| BUY | 10.990 | Greg Guichon | A direct play in the drilling in western Canada. Have locked in their rigs for almost 2 years in advance which will give very stable cash flow with a slight growth phase coming. Bad news is that rig rates have gone up and they will not be getting the recent increases. An excellent trust. | 2005-02-11 | |
| DON'T BUY | 10.050 | Leslie Lundquist | A growth company through acquisitions and will probably continue to do well as long as oil prices hold up. As a long term hold, they will be volatile and not sure that you wll get big distributions from them. | 2005-01-10 | |
| BUY | 10.400 | Ben Cheng | In a good space. Drillers in the basin are seeing a tremendous amount of business because of the high price of oil. Prospects for the next 6/12 months look good. | 2004-12-17 | |
| TOP PICK | 9.750 | Hugh McCauley | This may be one of the best 2 or 3 stories in Canada. They rent oil drilling equipment to the oil/gas companies and get a day rate. They are going to double the drills which could double the revenue, but not doubling the share count. Gross yield of about 7.4%. | 2004-12-02 | |
| HOLD | 7.720 | Ben Cheng | Where interest rates are increasing and many investors are getting tired of the oil/gas story, there has been profit-taking. Good management. | 2004-07-15 | |
| HOLD | 7.850 | David Taylor, MBA, CFA | His partner runs the income trust fund and likes it quite a bit. Prefers Total Energy which is significantly cheaper. | 2004-06-22 | |
| WEAK BUY | 8.260 | Dean Orrico | Too small a trust to hold in their portfolio. Has demonstrated an ability to make some acquisitions. Cyclical industry, so only have a small percentage in your portfolio. | 2004-05-05 | |
| BUY | 8.100 | Hugh McCauley | Likes the oil/gas services sector for the next couple of years and prefers playing it through Trinidad, Wellco and Badger income trusts as well as Peak Energy which is becoming a trust. Very interesting as trusts as they have higher multiples. | 2004-04-19 | |
| BUY | 6.500 | Glenn MacNeill, P.Eng. | Likes the drilling and well servicing business. Pricing power is going into the drilling companies. | 2003-12-18 | |
| BUY | 4.750 | Ben Cheng | Prospects are looking very good. Expect you will continue to see very good results for the next two or three quarters. | 2003-09-17 | |
| WEAK BUY | 4.850 | Sandy McIntyre | An operator of deep drilling rigs.They will benefit from increased activity looking for deep gas in Alberta.Very volatile, cyclical and dependent on commodity prices. | 2003-08-25 | |
| BUY | 4.510 | Peter Hodson | A pretty good play with some good growth opportunities. | 2003-07-29 | |
Experts that have talked about Trinidad Energy Services
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