| HOLD | 9.290 | Dean Orrico | Would rank as a tear 2/3 player. Good quality people are running the trust. Has a lot of heavy oil exposure. Management has good heavy oil experience. | 2006-02-03 | |
| DON'T BUY | 9.370 | John Stephenson | Would look at Bonavista Energy (BNP.UN-T), Trilogy Energy (TET.UN-T) and other names before he would recommend this. Reduced its payout by 21%. Has an increasing percentage of heavy oil and a declining reserve life. | 2006-01-25 | |
| HOLD | 9.530 | David Cockfield | In the process of being merged into a larger trust. | 2006-01-23 | |
| HOLD | 9.500 | Greg Guichon | This one is merging with Harvest Energy (HTE.UN-T). The combined trust will be attractive to large institutional investors which will create an improved valuation. It is possible they could get a US listing that would improve the valuation. On Mergers, there is always integration risks but in 6/9 months, it will be a good trust. | 2006-01-20 | |
| HOLD | 9.460 | David Baskin | Merging with Harvest Energy. Right now, bigger is better. With all these trusts, the question is reserve life and the percentage of cash flow that is going out the door in distributions. Would continue holding it until after the merger. | 2006-01-19 | |
| BUY | 9.260 | Michele Robitaille | Merging with Hardest Energy (HTE.UN-T) giving them a much larger land-base. Management has a great track record in heavy oil. Feel there will be good upside. | 2006-01-06 | |
| HOLD | 9.260 | Robert Lauzon | Merging with Harvest Energy Trust (THE.UN-T). Because Viking pays out more in distributions, Holders of Harvest Energy will get less in distributions. We'll probably become a better run trust because of the merger. If you own, wait until it gets listed on the exchange and then take some profits, probably in the first quarter. | 2005-12-23 | |
| BUY | 8.800 | Glenn MacNeill, P.Eng. | Has announced a merger with Harvest Energy (HTE.UN-T). Will be a very good merger. It will be the 4th largest royalty trust in Canada. | 2005-11-30 | |
| SELL | 8.800 | Peter Brieger | Has agreed to merge with Harvest Energy (HTE.UN-T). Sold his holdings because he thought it was too heavy in oil and for defensive purposes decided to own more natural gas oriented trusts. | 2005-11-29 | |
| PAST TOP PICK | 9.240 | David Chapman | (A Top Pick July 4/05. Up 30% plus distributions.) Had a target of $10, so when it came close to that, he took some profits. Has a very good payout. A little high on the payout and is in a bit of a downtrend right now. Wouldn't buy right now, but is probably a hold. | 2005-11-09 | |
| HOLD | 9.400 | Kevin Hall BComm, CFA | Announced a 50% increase in their distribution. A good quality trust. Valuation got a bit ahead of itself and this is starting to get corrected. | 2005-10-28 | |
| HOLD | 9.560 | Michele Robitaille | A reasonable quality trust. New management team and is in a bit of a turn around. Recently increased their distribution which gave it a bit of a pop. Probably not a bad idea to take a little bit of money off the table. | 2005-10-14 | |
| BUY | 9.560 | David Cockfield | Good management. Into a growth factor again. | 2005-10-12 | |
| BUY | 9.480 | Michael Simpson, CFA | Recently increased its distributions by 50%. | 2005-10-07 | |
| WEAK BUY | 9.790 | Dean Orrico | Just increased distributions. Fundamentals continue to hang in there. Payout ratio has jumped because of their increase in distributions, so you want to keep a close eye on to make sure they are not over paying. | 2005-09-30 | |
| BUY | 8.400 | Robert Lauzon | Not his favourite royalty trust, but management has turned the company around. Potential for distribution increase by the end of this year. Not a bad name. | 2005-09-23 | |
| BUY | 8.650 | Peter Brieger | New management has done a good job. Good yield. | 2005-09-15 | |
| WEAK BUY | 8.490 | Wilf Gobert | A lot of income trusts are going to have to raise distributions to avoid income tax. This one is very oil oriented. Wouldn't be his #1 choice. | 2005-09-14 | |
| WAIT | 8.140 | Glenn MacNeill, P.Eng. | Assets aren't as good as he hoped. Management is very skilled. Hasn't performed as well as he would like and hopes that good management will prevail over the long term. | 2005-09-02 | |
| BUY | 8.200 | Sandy McIntyre | One of his tier 2 positions. Into tier 2, not because of management, but because of underlying assets. Good management. Slowly improving the assets. | 2005-08-12 | |
| BUY | 7.980 | Dean Orrico | A turn around story. Previous management had made some acquisitions that were not too good. New management made 3 good acquistions in the last 1.5 years which significantly increased the size and reduced the payout ratio. | 2005-07-29 | |
| BUY | 7.570 | Matt Baillie | Royalty trusts in general haven't been keeping up with the oil stocks and are now in line on a cash flow basis with the oil corporations. Look a lot more attractive. This one has a lower payout ratio than last year. Lower valuation than the group because it is somewhat of a turn around story. Prefers others, but doesn't think you will get hurt on this one. | 2005-07-15 | |
| BUY | 7.360 | Glenn MacNeill, P.Eng. | New management team has done a reasonably good job in turning things around. Not as high quality as some of the other trusts. There's a possibility of a small increase in distributions. They're taking in more than they're spending. | 2005-07-08 | |
| TOP PICK | 7.170 | David Chapman | One of the overlooked energy trusts. Has struggled in comparison to other energy trusts. Has been forming a nice base. Payout is only 67% of cash flow. Gassy trust. Starting to break out. 13% payout. | 2005-07-04 | |
| BUY | 7.000 | Peter Brieger | Made a major acquisition of Krang Energy. One of his favourite trusts. | 2005-06-29 | |
| BUY | 7.000 | Michael Sprung | A bit more aggressive than some of the other energy companies. Their operations are mainly in Alberta, B.C. and Saskatchewan. Involved in natural gas liquids extraction. Pying out $0.96 and doesn't see this as a particularily stressful amount and shouldbe able to maintain that for the next 1/2 years. 13.7% yield. A reasonable trust to own for more aggressive accounts. | 2005-06-24 | |
| BUY | 6.850 | Garth Jestley | New management team has done a very good job of reducing costs. | 2005-06-03 | |
| BUY | 6.860 | Sandy McIntyre | This is a company in transition. One of the original oil and gas trusts. Ran into some production/acquisition problems over the 2002/2003 period. New, well repected, management team was brought in 2004. Have done some work to improve the underlying quality. Sees progress being made. | 2005-05-13 | |
| BUY | 6.800 | Glenn MacNeill, P.Eng. | Likes this trust. A good turn around candidate. | 2005-04-29 | |
| BUY | 6.790 | Michael Sprung | Has been looking at this one as another alternative in the energy area. Getting pretty close to the price level they would be interested in. Has come off generally with the oil/gas area. | 2005-04-28 | |
| BUY | 6.910 | David Cockfield | A high yield situation. Had some major problems. Bought a real turkey. New management was brought in. The company is working its way back. Still has to prove itself. | 2005-04-21 | |
| BUY | 7.180 | Dean Orrico | A turn around story in the royalty trust space. New management team made significant acquisition last year. | 2005-04-01 | |
| DON'T BUY | 7.330 | Matt Baillie | Q: Viking (VKR.UN-T) versus TKE (TKE.UN-T). A: Has a little shorter reserve life. A turn around story which seems to be working. | 2005-03-16 | |
| HOLD | 7.100 | David Cockfield | Has gone from a negitive to a neutral recently. Does have a premium yeild. A bit more risk in this situation. | 2005-03-10 | |
| VAGUE | 7.260 | Sandy McIntyre | Calpine transaction improved quality per barrell, and barrels per unit. | 2005-03-04 | |
| WAIT | 7.330 | Dean Orrico | Prior to its most recent acquisition, it was having a hard time. Had a change in management. Now a very gas weighted trust. Q4 results look positive. Wants to see how the new acquisition and management works out before buying more. | 2005-02-25 | |
| HOLD | 6.900 | David Cockfield | Under new management and have acquired Calpine which was a good purchase. Have also acquired Kensington without paying too much for it. Pays out 89% of its cash flow which is pretty high. Not sure how the new management will do with their new acquisitions. 14% cash flow return, but there is higher risk. | 2005-01-21 | |
| BUY | 6.800 | Glenn MacNeill, P.Eng. | Management is very competent, but the group of assets they were given were not some of the best. Think they will win over the long run. Has the ability to improve the multiples. | 2005-01-14 | |
| BUY | 6.650 | Leslie Lundquist | Ran into some difficulty a couple of years ago and had extensive management changes. Recently merged with Calpine natural gas which the analytical community seems to like. Looking at it now. | 2005-01-10 | |
| BUY | 6.750 | John Priestman | Has new management from top to bottom and a new game plan. Currently merging with Calpine which will make it into a much larger trust. Will be a big high quality name with an equal balanced production between natural gas and oil. High yield. | 2004-12-31 | |
| WAIT | 6.830 | Ben Cheng | Oil/gas holdings were mid to lower tier versus its competitors. Merging with Calpine which is a little bit of an experiment and will have to wait and see how it unfolds. It could be beneficial for both. | 2004-12-17 | |
| BUY | 6.670 | Blair Wilson | Has a sector outperform on it. Yield of about 14.8%. | 2004-11-10 | |
| BUY | 6.770 | Glenn MacNeill, P.Eng. | Has performed quite well. Complete management changeover which is for the good. Good potential. Will probably work to get their large debt down. | 2004-11-05 | |
| SELL | 6.730 | Peter Brieger | Had a change of management, is up on a spike and also has the heaviest exposure of any income trust to oil. | 2004-10-28 | |
| SELL | 6.330 | Brian Prokop | A sector underperform. Reserve life is about 8 to 9 times. 70% oil. Didn't get the assets they had hoped for from an acquisition they got last year. Restructered and new management is getting it turned around. | 2004-09-15 | |
| VAGUE | 5.970 | Peter Brieger | Probably a takeover story. Management left about six months ago. Speculative. | 2004-08-04 | |
| HOLD | 5.880 | David Cockfield | Stock has been disappointing. Company made a poor acquisition some time ago. The president and CFO have left. Is throwing off an extremely high yield of 16%. This could be cut back. Relatively light reserve index. | 2004-07-26 | |
| DON'T BUY | 5.830 | Ben Cheng | Have made some recent acquisitions to try and shore up production. Too much uncertainty with this trust. | 2004-07-15 | |
| HOLD | 5.680 | Peter Brieger | More interested in natural gas than in oil. Also prefer trusts that can increase their reserves. Likes Focus Energy and Peyto Energy. Will probably be a takeover. | 2004-07-05 | |
| DON'T BUY | 5.850 | Blair Wilson | Oil and gas weighted. Has been volatile over the last 9 months. Cut distributions 3 times. | 2004-06-15 | |
| WATCH | 6.030 | David Cockfield | Have had some mixed performances. Has a new president. Recently it has been acting well. Reserve is of little low so they'll probably have to make another acquisition. | 2004-04-26 | |
| DON'T BUY | 5.720 | Leslie Lundquist | Had some issues. Made an acquisition last year that didn't work out. Because of this, they have had production problems. A number of management changes. Not sure who is going to run it going forward. | 2004-03-22 | |
| HOLD | 5.670 | Peter Brieger | Management change and a reserve reduction. Expect it to be taken out as he can't see them carrying on much longer. It is cheap at this point. | 2004-03-16 | |
| DON'T BUY | 5.450 | David Cockfield | Lost some top management. Reserve life is not strong. 20% payout. Would like to see some strong management command. Not a good situation. | 2004-03-05 | |
| HOLD | 5.460 | Peter Brieger | Yeild is 18%, A deal may be in the works for a takeover. Hold | 2004-02-04 | |
| DON'T BUY | 5.850 | John Priestman | The oil patch is coming under stricter standards. Has had some management problems. A bad acquisition diluted their distributions. | 2004-01-21 | |
| BUY | 5.650 | Peter Brieger | Very oil oriented. Prefers gas trusts. Also heavily leveraged. The cheapest oil trust. | 2003-12-30 | |
| HOLD | 5.550 | Peter Brieger | Leverage on the balance sheets (debt to cash flow) is one of the highest. A drop in oil prices could have a severe affect on distributions. This Company is at the lower end of the value of production a barrel of oil per day to the unit price. | 2003-11-25 | |
| WAIT | 5.690 | Glenn MacNeill, P.Eng. | Not a favorite royalty trust. Paid too much for some assets on which the reserves and properties do not seem to be working out as well as they should. May have a reserve right down. Consider buying under $5. | 2003-11-24 | |
| HOLD | 6.370 | Garth Jestley | Have done three equity issues in the last 12 months, which has been a cloud over its performance. Have a good 10-year reserve life index. Balance sheet is in good shape. | 2003-11-07 | |
| DON'T BUY | 6.370 | Glenn MacNeill, P.Eng. | Prefers other trusts. Reasonably good management. Made a purchase of Key West and paid a fairly high price for it. Has not worked out as well as it should. Concerned that there might be a reserve write down. | 2003-11-05 | |
| HOLD | 6.460 | Bill Shaw | An oily trust. With the present strength of oil, would expect to see some appreciation. | 2003-10-14 | |
| HOLD | 6.290 | Peter Brieger | Heavily weighted in oil. Prefers gas oriented trusts. | 2003-10-08 | |
| DON'T BUY | 6.770 | Leslie Lundquist | Oil/ gas trusts will follow commodity prices. Right now they are high and not sure how long they will stay there. | 2003-09-05 | |
| BUY | 7.010 | Peter Brieger | Focused on oil and is highly leveraged.Good yield. | 2003-08-27 | |
| HOLD | 6.620 | David Cockfield | One of the smaller trusts.Smaller reserve life. | 2003-08-01 | |
| HOLD | 6.580 | John Priestman | A steady Eddy. Reserve life of 9/10.5 years. Good management. Biased to oil. | 2003-07-30 | |
| DON'T BUY | 6.490 | Glenn MacNeill, P.Eng. | Hasn't moved as much as its competitors. Paid full price on a recent acquisition. Will take a while. | 2003-06-30 | |
| BUY | 6.610 | David Cockfield | Pays an excellent return. Good income flow. | 2003-06-26 | |
| HOLD | 6.740 | Garth Jestley | 19% cash on cash yield. Pretty good value. | 2003-06-25 | |
| BUY | 6.800 | Sandy McIntyre | Not a bad little company. Relative to its peers, its offering above average payout. Valuation is lower because of its weighting in oil. A contrarian choice. | 2003-06-19 | |
| WEAK BUY | 6.740 | Glenn MacNeill, P.Eng. | Volatile. Paid too much for their Key West acquisition. | 2003-06-17 | |
| BUY | 6.380 | David Cockfield | Well managed. Pay a good yield. | 2003-05-29 | |
| DON'T BUY | 6.700 | Peter Brieger | Levered to oil and prefers natural gas at this time. | 2003-04-23 | |
| DON'T BUY | 6.370 | Peter Brieger | Distributions will be lower because of lower oil prices. Too heavy in oil for their tastes. | 2003-04-10 | |
| BUY | 6.550 | Ben Cheng | Pretty good value. Expects oil prices to stay strong in 2003. | 2003-04-01 | |
| BUY | 6.500 | Sandy McIntyre | Going through a recycling of stocks into trusts, so price has dropped. At good price. | 2003-03-25 | |
| HOLD | 7.020 | Peter Brieger | Just took over Key West. Prefers natural gas trusts. | 2003-01-15 | |
| DON'T BUY | 6.940 | Sandy McIntyre | Has issued convertible debentures and not a fan of these. | 2003-01-09 | |
| BUY | 6.900 | Ben Cheng | Good management. Prospects look good. | 2002-12-09 | |
| BUY | 7.440 | Glenn MacNeill, P.Eng. | Good management. Have good hopes for it. | 2002-09-17 | |
| BUY | 7.460 | Glenn MacNeill, P.Eng. | Expects distribution will be going up, so share price should also rise. Prefers Arc and Enerplus as first choices and Viking third. | 2002-08-29 | |
| HOLD | 7.420 | Jim Doak | Expects oil/gas distributions will be good for the next while, but if commodity prices go up, then sell. | 2002-08-28 | |
| BUY | 7.400 | Sandy McIntyre | Does a good job. | 2002-08-12 | |
| BUY | 7.590 | Peter Brieger | 12.5% yield. A good long term hold. | 2002-05-24 | |
| BUY on WEAKNESS | 7.200 | Ben Cheng | No concerns on the management or balance sheet. Depends on oil prices. May drop further. | 2002-04-16 | |
| BUY | 7.580 | Peter Brieger | Good yield. | 2002-03-27 | |
| BUY on WEAKNESS | 7.500 | Sandy McIntyre | Good asset mix and management team. Might be a little high. | 2002-03-20 | |
| BUY | 7.460 | John Priestman | Good trust. Steady. | 2002-03-19 | |
| BUY | 6.870 | Glenn MacNeill, P.Eng. | Good assets and at a good value. | 2002-02-07 | |
| TOP PICK | 6.730 | Sandy McIntyre | High quality oil. Good mngmnt. | 2001-10-29 | |
| TOP PICK | 6.540 | Sandy McIntyre | TOP PICK for the 2nd time. Good mngmnt. | 2001-10-02 | |
| TOP PICK | 7.380 | Sandy McIntyre | Have done a good job through the years. Good risk/return ratio. | 2001-09-06 | |
| BUY | 7.990 | Ben Cheng | Solid mngmnt. RLI = 13 yrs. | 2001-08-27 | |
| BUY on WEAKNESS | 7.920 | Bill Shaw | Good mngmnt. | 2001-07-10 | |
| BUY | 9.070 | Sandy McIntyre | Just made new acquisitions. A fair price | 2001-06-19 | |
| BUY | 8.900 | Glenn MacNeill, P.Eng. | Likes. One of the best managed energy trusts. | 2001-05-09 | |
| BUY | 9.000 | Noah Blackstein, B.A., CFA | Optimistic on oil price so will hold their value and may be rise | 2000-11-27 | |
| BUY | 9.000 | Sandy McIntyre | A smaller trust | 2000-11-09 | |
Experts that have talked about Viking Energy Royalty Trust
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