Viewing Company Crescent Point Energy Corp | StockChase
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Crescent Point Energy Corp Stock Symbol: CPG-T

Last Price Recorded: $21.0100 on 2016-04-29

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Date Signal Expert Opinion Price
2016-04-28 BUY Bruce Campbell (1)

He really likes this. There was a CAP conference in Toronto 2 weeks ago, where management gave an excellent presentation. They are doing all the right things. They are in Utah and Saskatchewan, not Alberta too much. Good growth. Cut the dividend down to where, even at strip pricing in the $30s, they would be profitable and generate some free cash flow. Thinks it goes to $24-$25 if oil goes sideways, and higher than that if oil goes higher.


Price:
$21.420
Subject:
CANADIAN LARGE
Bias:
OPTIMISTIC
Owned:
Unknown
2016-04-25 BUY James Rife

It has transitioned from a high payout stock and found religion in managing their dividend.  Investors are very interested in this one.  It was punished.  This is kind of a goto name for oil beta.  If you believe in the energy rally this is posed to outperform the XEG-T ETF.


Price:
$21.120
Subject:
CANADIAN
Bias:
BULLISH
Owned:
Unknown
2016-04-22 COMMENT Josef Schachter

Probability of foreign entities taking out a major producer like this? Thinks this is probably a good idea, but these are the kinds of things that are not going to happen very quickly. This company has done a great job on their hedge book, and still have $1 billion of hedges. BV is $22.05. Any time a stock gets close to BV, it’s a cheap story, and any time you see this trading below BV he thinks it is a great buy. This company is very astute.


Price:
$21.900
Subject:
OIL & GAS
Bias:
BEARISH on ENERGY
Owned:
Unknown
2016-04-19 WEAK BUY David Burrows

Of the key themes in this market is something called beta. Resources and basic materials have been part of that. This stock is really, so far, a retracement of some of the losses over the last 2 years. When you have a bust, things may go down 65%-70%, which oil did, and will very often have as much is a 50% bounce off the bottom, as people go looking for the money they lost on the way down. You have to go through a long period of restructuring in the industry before you ever get a sustainable rally. This company built its business on growth, making acquisitions and growing their production, but they don’t have a balance sheet to make those kinds of accretive acquisitions today, so it is going to be difficult. You’re not going to get hurt too badly right, but he would prefer longer-term to look at a different sector.


Price:
$21.080
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Unknown
2016-04-11 PARTIAL BUY James Telfser

(Market Call Minute.) Would rate this as a half-buy given his views on energy and their great long-life assets.


Price:
$18.410
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
Unknown
2016-04-07 TOP PICK Eric Nuttall

Don’t think about it as a dividend payer.  They are more interested in institutional money.  As oil appreciates they can grow faster than consensus would say.  Money will come out of companies like SU-T and much of it will go into this company.


Price:
$17.530
Subject:
OIL & GAS
Bias:
BULLISH on OIL
Owned:
Yes
2016-04-05 COMMENT Zachary Curry

This is on his list. The reduction in their dividend was a really meaningful step. In effect management is saying that they cannot pay this out anymore. This could be one of the better names coming out of this environment. Have great assets. Also, have not borrowed as heavily as other companies. He would be a buyer at the right price.


Price:
$17.100
Subject:
NORTH AMERICAN - LARGE
Bias:
DEFENSIVE
Owned:
No
2016-03-28 HOLD Michael Sprung

He owns a little.  They finally reduced their dividend to a much more manageable level.  It shows management can act prudently.  This one still looks a little expensive at these levels.  They are a well managed company.


Price:
$17.820
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2016-03-21 TOP PICK Robert Lauzon

They are making money here and just slashed their dividend.  They can make acquisitions without issuing equity now.  He thinks they will acquire to increase earnings per share. 


Price:
$18.590
Subject:
ENERGY & INFRASTRUCTURE
Bias:
OPTIMISTIC
Owned:
Yes
2016-03-15 BUY Bruce Campbell (1)

(Market Call Minute.) This is his only oil holding, and he would be a buyer under $18.


Price:
$17.890
Subject:
CANADIAN LARGE
Bias:
OPTIMISTIC
Owned:
Yes
2016-03-14 HOLD Teal Linde

Don’t sell it.  Don’t buy more.  The problem is that the production was 176k barrels last year and they expect to do 165k this year.  They reduced their dividend to 2%.  Their valuation is lower than their peers.  He would slightly underweight this stock in a portfolio.


Price:
$17.910
Subject:
NORTH AMERICAN
Bias:
SELECTIVE
Owned:
Unknown
2016-03-11 COMMENT Bill Harris, CFA

These are cyclical stocks, so to buy something at the bottom really looks bad. When oil went below $30, no company in Canada was making money. If paying a dividend when you don’t make money and you don’t know how long it is going to be, no company should be paying a dividend. He likes this company, and if he gets his stars to line up correctly, he is probably going to own this again. The best company with oil leverage to get out of this situation.


Price:
$18.340
Subject:
RESOURCE
Bias:
UNKNOWN
Owned:
No
2016-03-10 HOLD Christine Poole

They are being prudent.  They cut back their cap X program as well as the dividend.  35% of this year’s production is hedged at $80.  They can still grow production and it is encouraging.  It speaks to their inventory of land.  There is still a bit of a yield.  It is a call on crude oil at this point.


Price:
$17.490
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH on US ECONOMY
Owned:
Unknown
2016-03-09 COMMENT Fabrice Taylor

This is one of those “go to” names when people want to get back into oil. Had a nice bounce from its low. His guess is that we are close to the bottom in oil. Would prefer buying an ETF, a safer way to play oil.


Price:
$17.350
Subject:
NORTH AMERICAN
Bias:
UNKNOWN
Owned:
No
2016-02-29 COMMENT Ryan Bushell

Hedges – when do they start to disappear?  They have 30% of their oil hedged over $85/barrel for the remainder of the year.  The next two years have about 10% hedged north of $80 and then it is nominal. 


Price:
$16.490
Subject:
CANADIAN LARGE (DIVIDENDS)
Bias:
SELECTIVE
Owned:
Yes
2016-02-29 TOP PICK Brooke Thackray

This company has 33% of their book hedged out at $83 for 2016, so it has some time. Looking at demand going up in oil and supplies slowly coming down, at some point there is going to be some support. They are managing their balance sheet quite well.


Price:
$16.490
Subject:
TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias:
UNKNOWN
Owned:
Yes
2016-02-23 HOLD Eric Nuttall

This could be $20 by year-end. If you were to own one oil name, it would be this. It gives you the combination of very high quality assets, modest debt, good hedge position and high netback light oil. Has been out of favour and is now in favour in large institutions. They may cut their dividend by 20%-30% again in the next couple of months. If they do, he thinks the stock will actually go up.


Price:
$16.010
Subject:
ENERGY & SMALL CAP EQUITIES
Bias:
BULLISH on OIL
Owned:
Yes
2016-02-23 COMMENT James Telfser

This company always issued equity to pay for their dividend and fund some growth. If there is an energy rebound, a company like this should do well. They have decent long life assets to support dividend growth going down the road. He is cautious on energy stocks, and would be cautious on this.


Price:
$16.010
Subject:
CANADIAN
Bias:
CAUTIOUS
Owned:
No
2016-02-12 COMMENT Jason Mann

Definitely a “go to” name for the Canadian retail space, but would not be his 1st pick for energy. You can get companies cheaper that have better price momentum. Pays a good yield, but that alone is not a good reason to own energy stocks. Reasonably valued, kind of the middle of the pack, but high volatility, negative ROE’s and they don’t make money yet at these oil prices. Would prefer something like Raging River (RRX-T) or Granite Oil (GXO-T). Has a small Short on this. (See Top Picks.)


Price:
$14.430
Subject:
NORTH AMERICAN
Bias:
CAUTIOUS
Owned:
Yes
2016-02-11 COMMENT Paul Harris, CFA

Much more levered to oil prices than a lot of other companies, so if oil goes up you are going to get a bigger return. He would stick with companies that are more integrated like Suncor (SU-T) that has good balance sheet. Thinks oil will be touching the lower end of the range between $20 and $30 as opposed to going up.


Price:
$13.660
Subject:
NORTH AMERICAN/GLOBAL
Bias:
UNKNOWN
Owned:
No
2016-02-10 TOP PICK Swanzy Quarshie

She picked this, not only because she thinks oil prices are going to go up, but the business has not been impaired like others in this environment. You want to be exposed to a company that is not going to fall apart, but also has an upside opportunity. Operationally things are going great for them. Decline rates in production are slowly coming down, which means they have to spend less capital. Dividend yield of 8.66%, but wouldn’t be surprised if they cut this again.


Price:
$13.660
Subject:
OIL & GAS
Bias:
OPTIMISTIC on OIL
Owned:
Yes
2016-02-05 DON'T BUY Allan Meyer

They had said their dividend was safe, and then followed that by cutting it. Based on where we are with current oil prices, they may have to cut the dividend again. At these levels they are barely covering their cash costs, and are not able to spend enough money on maintaining their production to capital expenditures.


Price:
$15.150
Subject:
CANADIAN & ETF's
Bias:
UNKNOWN
Owned:
No
2016-02-05 COMMENT Hap (Robert) Sneddon FCSI

In his view this as a bit more of a conservative energy stock. Chart shows a double bottom (August and January), which is quite interesting. That is where the market has seen value. You are probably going to find resistance right where we are right now. This is not a bad place. Dividend yield of 7.9% is a little high.


Price:
$15.150
Subject:
TECHNICAL ANALYSIS
Bias:
UNKNOWN
Owned:
No
2016-02-03 COMMENT Norman Levine

A name he would probably want to own when it is a good time to own energy stocks. For the most part, this company is not in Alberta. Has a decent balance sheet. Cut back on their spending and dividends. A good history of hedging production. They should be a survivor and a name you want to own in the future.


Price:
$14.770
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2016-02-01 COMMENT Brendan Caldwell

They had always done significant stock issues.  Now that energy prices are a lot lower, they cut their dividend.  It will trade in a range for a while. 


Price:
$14.690
Subject:
CANADIAN VALUE
Bias:
SELECTIVELY OPTIMISTIC
Owned:
Unknown
2016-01-28 WATCH Colin Stewart

The energy sector has been in under a lot of pressure.  This is the time to start doing homework on higher quality companies.  They generate good cash flow and have hedges in place.  The market is forward looking and there is a lot of bad news about oil.  When things swing a long way to one side, he tries to look at the other side.  CPG-T is a good quality name in the space. 


Price:
$14.800
Subject:
NORTH AMERICAN - LARGE (LONG/SHORT STRATEGIES)
Bias:
UNKNOWN
Owned:
Unknown
2016-01-25 DON'T BUY Bill Carrigan

You wonder why it has been a favourite when you look at the chart.  We are below the financial crisis low.  There has been a volume increase during 2015.  We have probably had a bottom, but how high is it going to go?  There are better places to go.  It is for traders only.


Price:
$12.780
Subject:
TECHNICAL ANALYSIS
Bias:
BULLISH
Owned:
Unknown
2016-01-22 WAIT Michael Simpson, CFA

Crescent Point (CPG-T) or Whitecap (WCP-T)? Hasn’t cut its dividend for a while, and thinks they should cut. Wait until they make a decision on the dividend and look at it after that.


Price:
$13.980
Subject:
NORTH AMERICAN DIVIDENDS
Bias:
OPTIMISTIC
Owned:
Yes
2016-01-21 DON'T BUY Greg Newman

At the oil price he models, their dividend is sustainable. Debt to cash flow is pretty reasonable at about 2.2% at $50 oil. However, it is not sustainable at $30 oil. They do have some hedges for 2016-2017 below $40 oil. He doesn’t think any Canadian oil stocks are Buys here. 


Price:
$12.880
Subject:
CANADIAN DIVIDEND
Bias:
BULLISH
Owned:
Unknown
2016-01-20 BUY Douglas Kee

This company has great assets, and they are concentrated which is good. Also, has a good balance sheet. Their yield has gone up. They cut their dividend last year. If oil prices are $30 come the summer, they will likely cut their dividend again. If you have a 2-year horizon with this stock, he thinks you will be in good shape buying it here. He would rather buy when oil is $40 again, knowing that oil has bottomed.


Price:
$12.200
Subject:
CANADIAN DIVIDEND
Bias:
UNKNOWN
Owned:
Yes
2016-01-07 BUY Michael Sprung

Owns a little. For years he was a little jaundiced about the company, as they were really depending on their dividend reinvestment program to sustain what was a fairly large discipline. Over the last year or so, they really got religion and have cut back their dividend. Have also got much more disciplined about their capital programs. Recently announced that their forecasted budget for next year was going to be about 40% less then previously announced. On the positive side, this company owns great assets. If prices were better, they could be drilling for many, many years. Now is the time to be looking at this.


Price:
$13.080
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
2016-01-05 DON'T BUY David Baskin

Stock vs. Stock.  BTE-T vs. CPG-T.  He would prefer CPG-T for its assets if a gun was to his head.  It will still be there, but not sure if BTE-T will be around for long.


Price:
$15.510
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
No
2016-01-04 COMMENT Bruce Campbell (1)

It has a lot of growth coming in production.  If oil stays under $60 for a few more months a lot of their hedges would come off.  The dividend is in question.  It would be one of his favourites if oil did okay.


Price:
$15.710
Subject:
CANADIAN
Bias:
CAUTIOUS
Owned:
Unknown
2016-01-04 DON'T BUY John Zechner

Now would not be a good time to get into it.  They have a lot of hedges so have done well so far.  Unless you get a really sharp recovery in the oil price, they will have a lot of problems when the hedges roll off.  They already cut the divided.  He is not comfortable with the sector at all.


Price:
$15.710
Subject:
NORTH AMERICAN - LARGE
Bias:
BEARISH
Owned:
Unknown
2015-12-31 COMMENT Eric Nuttall

His Top holding, and remains a mystery to him because it is materially cheaper than other names with inferior projects, balance sheets and dividend yields. Feels the dividend is safe. People are still hung up on the amount of paper they issued over the past few years. They did so to acquire a lot of properties. Management owns a lot of stock. In terms of quality, this company is in the top 10 in terms of quality in Canada.


Price:
$16.120
Subject:
OIL, GAS & SMALL-CAP CANADIAN
Bias:
OPTIMISTIC
Owned:
Yes
2015-12-30 COMMENT Norman Levine

Has a bit of this in some accounts. He likes this because it is not in Alberta and has a decent balance sheet. It has cut way back on its capital expenditures as well as its dividend. Not a bad one to own as far as oil stocks go.


Price:
$15.970
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2015-12-14 DON'T BUY Teal Linde

It is a high quality company, but you have to appreciate that they have a lot of hedges in this year (50%) and only about 30% next year.  He is not sure what the payout ratio will look like next year.


Price:
$14.990
Subject:
NORTH AMERICAN
Bias:
BEARISH
Owned:
Unknown
2015-12-14 PAST TOP PICK Peter Brieger

(A Top Pick Dec 29/14. Down 41.46%.) A fabulous company. They just have to cut their dividend finally. They are now down to $0.10 per month. Have suspended their DRIP. One of the best managed companies in Canada. It will come back, once we get oil stabilizing. He would put new money to work in this one.


Price:
$14.990
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-12-11 WAIT Jaime Carrasco

If you are looking for yield, the current yield is sustainable. Cash flow and production were in line. His company has a $30 target on this. He would be getting ready to add, but would wait a little longer.


Price:
$15.480
Subject:
REITS, RESOURCES & UTILITIES
Bias:
CONTRARIAN
Owned:
Yes
2015-12-07 HOLD Alex Ruus

Near term, he sees short term downside from the commodity price.  They will probably do some more acquisition rollups.  Over time they do well and produce free cash flow.  Over two years you will make money.


Price:
$15.640
Subject:
NORTH AMERICAN
Bias:
BULLISH
Owned:
Unknown
2015-12-01 COMMENT Bill Harris, CFA

In the screen of investable mid-cap companies, this is #1 or #2 out of 5 that he likes. (See comments under Valeant (VET-T).) Still a fairly high valuation with WTI at $42. The nice thing about this is that it is in Saskatchewan and technically the chart looks pretty good. They should’ve cut their dividend to zero. This is generally a decent play on oil. He is looking at this one very closely.


Price:
$17.930
Subject:
RESOURCE
Bias:
CAUTIOUS
Owned:
No
2015-11-23 BUY Bruce Campbell (1)

6% dividend, Saskatchewan and Utah development.  They have stopped diluting the momentum.  It would be a lot of analysts’ favourite oil, including his.  He sees a 50% gain.


Price:
$17.300
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Unknown
2015-11-20 TOP PICK Eric Nuttall

If you want energy or oil exposure, this is a name that will be a primary beneficiary. When people want a play in the recovery of an oil price, they will sell the Suncors and buy this. Trading at around 6.3-6.4 times cash flow, using $55 oil. If he is wrong in his timing of an oil recovery, they have a fairly decent hedge position for 2016 and financial leverage that is well below average. Dividend yield of about 7.08%.


Price:
$16.870
Subject:
CANADIAN SMALL & ENERGY
Bias:
UNKNOWN
Owned:
Yes
2015-11-11 BUY Martin Davies

He likes the company. Cut their dividend down to $0.10 a share, which was the right thing to do. They were punished for this initially, but in the long run they will be rewarded because of the sustainability of the company. A great deal of their production is on very low decline long life assets through the use of water floods. Most assets are in Saskatchewan. A good place to be.


Price:
$17.610
Subject:
Canadian Energy/Service
Bias:
BULLISH on ENERGY
Owned:
Unknown
2015-11-10 TOP PICK Ryan Bushell

A solid, conservative producer. 6.5% dividend yield even after the dividend cut. This is a company that competes in this environment. They are well hedged through next year with over 33% of volumes hedged over $80 a barrel.


Price:
$18.290
Subject:
CANADIAN LARGE (DIVIDENDS)
Bias:
UNKNOWN
Owned:
Yes
2015-11-05 COMMENT Greg Newman

Have really done a good job playing catch-up with the market. Their balance sheet is improving. They are profitable with oil down at these levels. If you are constructive on oil, this is not the 1st name he would be going to.


Price:
$18.580
Subject:
CANADIAN DIVIDEND
Bias:
CAUTIOUS
Owned:
No
2015-11-04 COMMENT Lyle Stein

They have cut their dividend once. They need $1.9-$2 billion a year to sustain production. At current oil prices, with or hedges in place, they are at that level. Ultimately this is a capital recycling story and capital recycling stories shouldn’t have dividends at the 6.5% level. Sold his holdings midyear. (See Top Picks.)


Price:
$19.010
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
No
2015-11-02 SELL David Burrows

You don’t need to own this right now.  There is a mountain of shareholders underwater just waiting to get their money back.  Take the loss and move on.


Price:
$18.310
Subject:
NORTH AMERICAN - LARGE
Bias:
BULL
Owned:
Unknown
2015-11-02 COMMENT Zachary Curry

This has been beaten down along with all the other oil names. Generally speaking this is a positive. One of the better names in terms of growth. His biggest issue is that they tended to issue equity fairly often. They may not be doing that right now, but when times get better that could continue. That creates a big dilution.


Price:
$18.310
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2015-10-28 COMMENT Mike S. Newton, CIM FCSI

Had been a core holding of his for quite some time and an example of where Stops worked quite nicely. It was very encouraging to see a good move on this today. Cyclicals can be a really frustrating round-trip for a lot of people, so he tends to shy away from these.


Price:
$18.090
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
No
2015-10-27 COMMENT Don Lato

This is not something that he has owned. Thinks it is pretty fair at these valuations. Trading at about 4X cash flow. However, this is a company that has lived by acquisition, rather than through the drill bit. He prefers to own companies whose future is tied to the drill bit and what they can do in that area. Prefers Tourmaline (TOU-T) and Parex(PXT-T), which he feels are better alternatives.


Price:
$17.480
Subject:
NORTH AMERICAN
Bias:
UNKNOWN
Owned:
No
2015-10-26 SELL Brian Acker, CA

$0.43 is the model price.  The dividend is not sustainable.  Mean losses extend out to 2 years.  We had a bounce, but fundamentals are against you here.  They will have to be a further cut to the distribution.  He sees more downside. 


Price:
$17.880
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH on US MARKET
Owned:
Unknown
2015-10-26 PAST TOP PICK Peter Brieger

(A Top Pick Aug 25/14. Down 55.6%.) One of the best managed oil/gas companies in Canada. Have built up an inventory of 7500 wells, most of which are conducive to water flood stimulation. This takes recovery rates from 15% up to 25%.


Price:
$17.880
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Yes
2015-10-23 PAST TOP PICK David Cockfield

(A Top Pick Dec 5/14. Down 26.04%.) One of the oil stocks he held onto, and feels it is one of the stronger players out there. They are in Saskatchewan in the Balkans. Feels they will do all right.


Price:
$18.210
Subject:
AGRICULTURE, DIVIDEND & FIXED INCOME
Bias:
BEAR
Owned:
Yes
2015-10-22 PAST TOP PICK Michael Decter

(Top Pick Nov 7/14, Down 45.45%) He has owned it for a long time.  He likes management a lot.  It is his only producing company.  They are using this downturn to dramatically grow the company by making acquisitions.  He believes someone will eventually buy the company.  He doesn’t want to sell it and then have someone put in a takeover bid 50% higher the next day.  When it comes back it will do so quite quickly.


Price:
$18.460
Subject:
CANADIAN LARGE
Bias:
BULLISH
Owned:
Yes
2015-10-22 COMMENT Eric Nuttall

One of the few oil names that isn’t reflecting a much higher oil price, so he was adding to it today. This could be a $20 stock if he is right on the price of oil. Using $55, it is trading around 6.9X next year’s enterprise value to cash flow. Other names are higher. The business model is superior to a lot of those other companies. The dividend is sustainable to around $52-$53 oil, where he thinks oil is going to rally to next year.


Price:
$18.460
Subject:
OIL, GAS & SMALL-CAP CANADIAN
Bias:
UNKNOWN
Owned:
Yes
2015-10-14 COMMENT Barry Schwartz

It is neither a buy, nor a sell because he does not own energy or resource companies going forward.  He does not know what the price of oil is going to be.  Nothing can be trusted in this environment.  Companies have no control over the price of commodities and yet pay out 100 percent of their cash flow.


Price:
$19.740
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Unknown
2015-10-08 PAST TOP PICK Douglas Kee

(Top Pick Sep 4/14, Down 47.56%)  They are well managed and have done the right things.  They cut CAP-X and their dividend as well as costs. 


Price:
$20.460
Subject:
CANADIAN DIVIDEND
Bias:
OPTIMISTIC
Owned:
Yes
2015-10-07 TOP PICK Bill Bonner

They were correct to reduce the dividend.  It has great oil leverage and is in Saskatchewan where there will be no NDP fall out regarding royalties.  When the market comes back, this one will go very quickly. 


Price:
$19.860
Subject:
CANADIAN ENERGY
Bias:
UNKNOWN
Owned:
Yes
2015-10-05 DON'T BUY John O'Connell, CFA

He has never been a fan because of the high dividend payout.  You invest in it and they give you back your capital and you have to pay tax on it.  Oil prices can’t stay down here that much longer.  It is not sustainable.  The best cure for low prices is low prices.


Price:
$17.610
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
OPTIMISTIC
Owned:
Unknown
2015-10-02 WATCH Prakash Hariharan

Has probably been one of the best light oil producers.  It almost feels like a value proposition.  The quality of dividends is not good, though, as they cut back on it.  The operating numbers look pretty good.  You get into the tax loss selling in December and you realize you should be waiting until January to look at it.


Price:
$16.530
Subject:
GLOBAL EQUITIES & DIVIDEND PAYING STOCKS
Bias:
UNKNOWN
Owned:
Unknown
2015-10-01 DON'T BUY Norman Levine

He was worried that the dividend would not be sustainable.  They locked in hedging at $90, but then pricing did not come back and so dividends were not sustainable.  He would not own a commodity stock for the dividend. 


Price:
$15.460
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
No
2015-09-25 COMMENT Dennis Da Silva

A name that was painful to be in earlier this year until they did their cut in August. There has been a relatively good response since then. A great light oil, high margin producer focused in Saskatchewan. Balance sheet has been right sized with a cut in the dividend. He thinks they can maintain a 100% payout. If oil stays where it is for another 6-9 months, everyone will be susceptible to having to make some cuts. One of the “go to” names if you are looking for a large, liquid light oil producer that can give you some upside. Fairly well hedged at about 35% in 2016, near the $85 US per barrel range.


Price:
$15.520
Subject:
CANADIAN RESOURCES
Bias:
UNKNOWN
Owned:
Yes
2015-09-24 DON'T BUY David Baskin

It may only be a matter of time until the dividend goes to zero.  People were chasing yield at their peril.  As oil prices came down, so had the dividend to.  It is only a matter of time before they cut it again.


Price:
$15.600
Subject:
NORTH AMERICAN
Bias:
SELECTIVELY OPTIMISTIC
Owned:
No
2015-09-21 HOLD Jeff Young

A high quality company that cut their dividend like many of them have.  They will move along with oil prices and they will keep their balance sheet strong throughout, even if it requires a dividend cut.


Price:
$17.550
Subject:
CANADIAN DIVIDEND
Bias:
SELECTIVE
Owned:
Unknown
2015-09-18 COMMENT Mohsin Bashir

A lot of these heavy income names have taken a tumble. You are looking at a forward price to cash valuation of 4X. Ultra, ultra cheap. Management historically has serially issued equity to be able to pay out dividends. Now they are using existing cash flow. Cash flow is still very healthy. They are probably going to be able to ride out the energy problem better. If there is a recovery in oil, this will rebound much faster than others. Excellent assets with light oil exposure. Dividend yield of 7%.


Price:
$17.040
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2015-09-17 SELL Kash Pashootan

He is negative on the oil space as a whole and thinks there are more chips to fall.  He wants to wait until he has more conviction.  They have done everything they said they would not do.  It is not too late to be trimming this.  If it is the only oil you own, then you could hold it.


Price:
$17.300
Subject:
NORTH AMERICAN DIVIDENDS
Bias:
SELECTIVE
Owned:
Unknown
2015-09-11 HOLD Steve DiGregorio

In energy he has everything in one of 3 buckets. 1) The “highly leveraged” names with very poor balance sheets and the potential to go bankrupt. 2) “Highly leveraged” names, that in a $30 environment would be highly levered on a cash flow multiple. 3) Solid balance sheets. This company straddles the 2nd and 3rd buckets. Balance sheet is okay, NETBACKS are some of the best in the industry, it is light oil. In a $40-$50 oil range, this company is fine. Have a good hedging program and the dividend has already been cut. One of the knocks is that they are a serial issuer of equity, and we are not going to see that at any time at these levels.


Price:
$16.550
Subject:
CANADIAN DIVIDEND
Bias:
BULLISH on DIVIDEND STOCKS
Owned:
Unknown
2015-09-09 WAIT Christine Poole

She owned it for a number of years.  They finally cut their dividend.  She is not buying energy right now.  She is not buying it for new clients.  Refineries shut down in the fall for maintenance.  Inventories are high right now.  She would wait for some stabilization in crude prices and to see some declining supplies.


Price:
$16.380
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC on US ECONOMY
Owned:
Yes
2015-09-04 DON'T BUY Don Vialoux

Oily stocks tend not to do too well this time of year. Their period of seasonal strength is actually from January right through until May. We are currently outside of the period of seasonal strength.


Price:
$16.620
Subject:
SEASONAL & TECHNICAL
Bias:
UNKNOWN
Owned:
Unknown
2015-09-04 COMMENT David Cockfield

This is one of the oils he decided to retain, mainly because it is so diversified. It is not in Alberta, but is in Saskatchewan. One of the best managements going. The bounce lately is at the bottom. He is quite sure this is a company that will survive this whole low oil price period. Not a bad buy if you want some income as well.


Price:
$16.620
Subject:
CANADIAN & ETF's
Bias:
OPTIMISTIC
Owned:
Yes
2015-09-02 TOP PICK Swanzy Quarshie

Div $0.10 yield 7.48% Recently cut it's dividend in half. She is happy with this, since it doesn't really help with growth.  Feels that it is good that they rationalized the dividend/payout ratios. Great assets.  A good management team as well. It's at a very very low level, so now is the time to buy. They added at $13 or so.


Price:
$16.150
Subject:
OIL & GAS
Bias:
UNKNOWN
Owned:
Yes
2015-09-01 HOLD Michael Sprung

Reducing the dividend was a wise move in this environment. This is one of the better managed companies with one of the greatest areas to develop in terms of the number of drilling opportunities they have going forward. Very efficient operators. Thinks the dividend, for the time being, is fairly safely covered. Would not be selling, but if anything, would be looking at it as an opportunity.


Price:
$16.090
Subject:
CANADIAN LARGE
Bias:
OPTIMISTIC
Owned:
Yes
2015-08-31 COMMENT Rick Stuchberry

There is not much more this company can do on the operating side. It has been a spectacular operator. Has reduced its cost by 25%. This is a commodity problem in this company is getting clobbered because the oil price is down. They are low cost producers compared to a lot of others.


Price:
$16.880
Subject:
CANADIAN LARGE & ADRs
Bias:
OPTIMISTIC
Owned:
Yes
2015-08-28 COMMENT John O'Connell, CFA

Thinks the street would say this company is pretty cheap right now. He has consistently had a number of quarrels with this company. They are growing like stink and it is a very well-managed company. The problem is that they are paying out a dividend. You invest $10, and it pays you back $0.60 every year, but you have to pay tax on it. Then they dilute you down by selling new shares to buy more and more great opportunities down the road. Doesn’t like the dividend paying model. Institutional investors are very, very nervous about buying these types of companies, because if prices stay down for a while longer the hedges all roll off next year and it is a disaster. They have a lot of debt.


Price:
$15.330
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2015-08-27 PAST TOP PICK Stan Wong

(A Top Pick July 23/14. Down 63.93%.) Sold out of this. Doesn’t have a lot of conviction that oil prices are going to rebound. Still likes the company and will probably own it at some point, but for the time being he has rotated out of this into different names.


Price:
$14.740
Subject:
NORTH AMERICAN & ETFs
Bias:
UNKNOWN
Owned:
No
2015-08-25 TOP PICK Eric Nuttall

The most mispriced oil/gas stock in Canada that he can find. Their proved reserves can produce oil for 10 years. At $55 oil, it is trading at 5.5X its total corporate value relative to cash flow. That means you are getting part of the proved reserves for free, their probable reserves for free and all of their own booked inventory for free. It has never traded as cheaply as it has today. Eliminated people’s major concerns and cut the dividend so it is right sized. He has it being sustainable at about $50-$55 or higher. The cash flow is around 2.5X. Eliminated their DRIP so there is no dilution. Dividend yield of 9.02%.


Price:
$12.790
Subject:
OIL, GAS & SMALL-CAP CANADIAN
Bias:
BULLISH on OIL
Owned:
Yes
2015-08-24 COMMENT Larry Berman CFA, CMT, CTA

This is in panic mode. Maybe it gets cheaper still. People are liquidating wholesale, and that is always when you want to be buying.


Price:
$12.650
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
OPTIMISTIC
Owned:
Yes
2015-08-24 PAST TOP PICK Peter Brieger

(A Top Pick July 28/14. Down 69.34%.) He would be looking for an entry point once he sees oil stabilizing. For any of the producers, he would be asking to what level they could get costs down, marginal and average, relative to the price they get through hedging or actual sales. If the spread was positive, he would look to see the potential for production. This is a classic example of a company that can take advantage of increased production with a positive spread. If oil prices stabilize, he does not believe they will cut their dividend again.


Price:
$12.650
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH on US ECONOMY
Owned:
Yes
2015-08-24 DON'T BUY Keith Richards

A very popularly held stock. For the longest time it wasn’t a bad stock to hold. It was range bound, but it broke down with oil. The company is very leveraged to oil and have a lot of debt, so where oil goes, they are really going to go. Recently cut their dividend and most people that own the stock had been buying it for the dividend. It keeps breaking support levels. He looks for bases. If it started a sloppy sideways zone, where it broke out eventually, you might consider it, but at this time it is in a downtrend. Don’t buy it until it stops going down.


Price:
$12.650
Subject:
TECHNICAL ANALYSIS
Bias:
UNKNOWN
Owned:
No
2015-08-20 DON'T BUY Ross Healy

Cannot give any good news on the stock.  You have to wonder how good the dividend is even after they cut it.  Earnings are still suggesting quite a bit of downside.  They do have a fairly decent balance sheet so can bluff their way through this.


Price:
$14.070
Subject:
NORTH AMERICAN - LARGE
Bias:
BEARISH
Owned:
Unknown
2015-08-19 COMMENT Norman Levine

Their history is that it is a serial acquirer of other companies in its geographical area, and a serial issuer of shares, so the street loves it. When a company keeps issuing shares like that, it is hard for the share price to do well. The yield on the stock was quite high, and a lot of people got sucked into buying because of the yield. Had hedged oil at $90 a barrel. They can’t continue paying their dividend with oil at $40, and they can’t hedge any more. Investors should buy commodity stocks only when they feel commodities are going up. If you are a very long term investor, he is sure you will come out OK, but there is probably going to be some more pain in the near term.


Price:
$14.730
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2015-08-19 COMMENT Bruce Campbell (2)

One of the most heavily followed retail stocks in Canada. The dividend cut was being forecast by the market, but they had always said they were not going to cut the dividend. Their business has obviously significantly changed in the last 60 days. If oil stabilizes and bases here, this will probably be an okay place to be. He always has his eye on this one.


Price:
$14.730
Subject:
CANADIAN
Bias:
CAUTIOUS
Owned:
No
2015-08-18 COMMENT Richard Croft

Covered Call to January 2017? This stock is a challenge. It is holding its value at this stage because of its dividend, which is not at all certain. If you are able to sell a covered call on this, you are going to have a very challenging time trying to buy it back, because it is not a very liquid market. If you are selling a Call Option he would probably go a little closer, not January 2017. He has a feeling that the Bid/Ask spread is going to be so wide it is not something you are going to be able to work with.


Price:
$15.790
Subject:
OPTION STRATEGIES & E.T.F.S
Bias:
CAUTIOUS
Owned:
Unknown
2015-08-14 DON'T BUY Kash Pashootan

Recently cut their dividend. He has been quite bearish on energy space for a few years and has very little exposure. His view is that the dust has not settled. Although there is some stability in the price of oil, at these levels it is difficult for these types of companies to make any money. We need oil to be considerably higher for an investor to make money. Not a name he would Buy right now.


Price:
$16.640
Subject:
NORTH AMERICAN DIVIDENDS
Bias:
CAUTIOUS
Owned:
No
2015-08-14 COMMENT Jon Vialoux

The 2 periods of seasonal strength for energy are from January to May followed by the next one from August through to October. The 1st one played out quite nicely with a bounce from a significantly oversold level. We are significantly oversold again and approaching multiyear lows, and what appears to be a good period for investing again. The probability of some of the seasonal influences kicking in this year is rather low. It would be preferable to see the trend in your favour, which would lower your risks of pursuing some of these plays.


Price:
$16.640
Subject:
TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias:
UNKNOWN
Owned:
Unknown
2015-08-11 COMMENT Christine Poole

They indicated they can maintain that dividend.  But she thinks it is only a question of how long it can stay down there.  In 2016 about a third of their production is hedged at $83.  If crude stays below $50 for a long period of time you have to question a yield that high.


Price:
$18.020
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Unknown
2015-08-10 WAIT John Zechner

14.8% yield means the market is telling you they don’t expect the dividend to be paid.  The market is expecting a cut.  He has not added to it here.  Oil prices are still winding down.  CPG-T has the cash and the great land position they acquired.  A cut in the dividend should not do much to the stock price as the expectation of the cut is built into the stock price.


Price:
$18.940
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Yes
2015-08-10 DON'T BUY Larry Berman CFA, CMT, CTA

He does not think it is going away.  Oil may not turn for a couple of years.


Price:
$18.940
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2015-08-06 HOLD Bill Carrigan

A lot of analysts embrace the model, but these models are only good when the commodity is doing well.  It fought to stay above its peak for ages and then fell down.  He thinks it will hold in here.  Hold but don’t buy it.


Price:
$18.960
Subject:
TECHNICAL ANALYSIS
Bias:
SELECTIVE
Owned:
No
2015-07-31 DON'T BUY Lyle Stein

He thinks this whole business model is coming under question. The real fundamental question is, should resource companies be the significant generators of cash dividends, when in fact they need that capital, particularly as commodity prices continue to disappoint. The dividend doesn’t make sense because they need the capital to keep the regular business going.


Price:
$19.810
Subject:
CANADIAN
Bias:
CAUTIOUS
Owned:
No
2015-07-31 COMMENT David Cockfield

This is definitely going to survive, if any company is going to do well in this particular period of falling prices. Have good financing and good cash flows, and even covering their dividend at the present time. They’ve been good in hedging in terms of selling forward. He hopes they managed to pick up some of that $60 future oil when the market was in contango a month or so ago. Whether they can maintain that 14% dividend is open to question.


Price:
$19.810
Subject:
CANADIAN
Bias:
CAUTIOUS
Owned:
Yes
2015-07-30 COMMENT Robert Lauzon

He likes them.  The market is telling them it wants them to cut the dividend.  They still might not do it.  They didn’t have to earlier this year.  If oil is still $50 when these hedges roll off, CPG-T will have to cut the dividend within a couple of years.  The yield has spiked as the stock price came down.  CPG-T can’t issue equity with a 12-15% yield and make it accretive.  They should bring it down the 7-8%.  Management does not want to do this, but it is best.


Price:
$20.200
Subject:
ENERGY
Bias:
SELECTIVE
Owned:
Unknown
2015-07-29 COMMENT Michael Sprung

Has always been a very well-managed company. For many years, although they didn’t earn it, it was largely supported by the DRIP program. As production and cash flow grew, they were able to cover that. They have run a very effective hedging program. Have 58% of their output hedged at around $88, and 2016 production hedged at around $83. Regarding cash flow, although numbers have come off considerably in the last while, he is still seeing forecasts for the next 2 years of about $4, which allows them to maintain that dividend. Have a lot of very good properties and a lot of potential properties to drill extensively over the next number of years.


Price:
$19.420
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-07-29 DON'T BUY James Telfser

Would probably be at the bottom of his list of energy stocks that he would buy. Always had a problem with them raising money to pay their dividends. They typically raise money which dilutes shareholders, and then the growth kind of disappears from that.


Price:
$19.420
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
No
2015-07-28 WAIT Jim Huang

Leveraged to the oil price, which has come down to $47. They are pretty much 100% oil. Very good management team and good operators in good oil fields. The issue is with the dividend at around 12%, clearly unsustainable at the current price. He thinks a wise decision would be for them to cut the dividend. Wait for a cut in the dividend before buying.


Price:
$19.120
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
No
2015-07-27 HOLD Bruce Campbell (1)

(Market Call Minute.) Dividend yield is now 14.7%. A Hold and maybe even a Buy at this level. They have hedges on through next year, so would only have to cut the dividend if oil stays at $45 for 18 months.


Price:
$18.750
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2015-07-24 COMMENT Jeff Young

Now back to 2008 levels, but it is not alone. A lot of these companies had very strong hedging books going into this year that have seen them come through. When oil had the bounce through the spring, it pushed those hedges out a little bit. It is very difficult to hedge now into 2016. Thinks it’s going to be 2018 before we see a $60 oil price.


Price:
$19.820
Subject:
CANADIAN DIVIDEND
Bias:
CAUTIOUS
Owned:
Unknown
2015-07-24 WAIT Jaime Carrasco

One of the better players in his portfolio. They will survive. He is waiting to add. Has noticed that inventory levels have started to flatten out in North America. His company has a $40 target and that the dividend is sustainable. However, he is not ready to add yet. Yield of around 14%.


Price:
$19.820
Subject:
RESOURCE, UTILITY & REITs
Bias:
BULLISH on GOLD
Owned:
Yes
2015-07-23 PAST TOP PICK Martin Davies

(Top Pick Jun 25/14, Down 51.92%) The market thinks it should cut its dividend, but they are adamant they don’t have to do that.  13.6% is the dividend.  They have a relatively good balance sheet.  It is a buy here.  It is trading at 2008/09 levels.


Price:
$20.450
Subject:
OIL & GAS
Bias:
BULLISH on OIL & GAS
Owned:
Yes
2015-07-22 COMMENT Allan Meyer

One of the better companies. Likes what they are doing. Good strong control. Picking up some of the weaker companies. The trouble is, you have low oil prices. Hopefully their hedges last long enough that they don’t have to start worrying about the current prices of oil. They have been able to hold their dividend in. There is a lot of pressure on oil. He is looking for oil to maintain at around $48. He is not a fan of oil and gas.


Price:
$21.000
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
No
2015-07-21 WATCH Hap (Robert) Sneddon FCSI

He sold all of his energy stocks last fall, hasn't dabbled back into it yet. It is a really interesting idea. If it could hold the December low, it could be an opportunity for a seasonal trade. Recommends sitting on the sidelines and watching.


 


Price:
$21.830
Subject:
TECHNICAL ANALYSIS
Bias:
UNKNOWN
Owned:
Unknown
2015-07-21 DON'T BUY Barry Schwartz

He doesn’t like high yielding companies in the commodity sector. It doesn’t make sense. Kudos to the management team for hedging, but aren’t they in the business to sell oil/gas at the highest price possible in the spot market? 12% yield is all you have to know to tell you that it is a dangerous situation.


Price:
$21.830
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2015-07-17 PARTIAL BUY Brendan Caldwell

This has been under a lot of pressure along with all the other energy companies. Recently bought some of their new issue. Their price has been really, really dependent on it paying its dividend. If they cut, the price would come off in a significant way. Having just done a very large equity issue recently, it is unlikely they will have a cut unless oil prices come under much more pressure. Doesn’t think this is a bad bet to nibble at.


Price:
$22.420
Subject:
CANADIAN VALUE
Bias:
UNKNOWN
Owned:
Yes
2015-07-16 BUY Douglas Kee

Likes the dividend on this, and believes that it is safe. They are making very astute acquisitions and adding onto their core property areas. The balance sheet is still in good shape. Have a good hedging program. Likes this comany longer-term. Dividend yield of 12%.


Price:
$22.800
Subject:
CANADIAN DIVIDEND
Bias:
UNKNOWN
Owned:
Yes
2015-07-15 COMMENT Bruce Tatters

Exited the majority of his energy exposure about a year ago. You can’t talk about an energy company in Canada without talking about the crude oil price. The US rig count has gone from 1600 down to 650 currently. Even by March it had hit about 825. Even with the massive drop in rig counts, we still haven’t seen production rollover in the US. Expects you have to see it start to rollover before you really ever see a sustained a rally in oil. Be patient and let some more time pass. Keep an eye on the weekly EIA report for production, and watch for an actual decline in production.


Price:
$23.100
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Unknown
2015-07-15 BUY Don Lato

One of the energy names that you can step into. He doesn’t know when the turn is coming in the price of oil, so you have to be very careful if you are going to be in the sector. Stick to high-quality names like this. The yield is very attractive. Even if they have to shave it a little bit, it is not going to be the end of the world.


Price:
$23.100
Subject:
NORTH AMERICAN
Bias:
OPTIMISTIC
Owned:
No
2015-07-14 HOLD Christine Poole

Over 90% of their production is crude oil, and the collapse in oil prices has not helped. A very strong balance sheet. Yielding 12%, which she thinks is safe because they have a very strong hedging program in place. They are notorious for issuing equity. They bought Legacy, which is a good transaction as it consolidates their land base in Saskatchewan. On top of that they issued another 23 million shares at $28.50 and the market questions why they did that issue when they are paying for Legacy transaction in stock. Just did another all stock acquisition. Thinks the selloff has been a bit overdone. There is probably more volatility coming, but over the long-term crude has to be higher than here over the next year or 2.


Price:
$26.070
Subject:
NORTH AMERICAN - LARGE
Bias:
BEARISH on OIL
Owned:
Yes
2015-07-13 COMMENT Rick Stuchberry

He owns this for yield. The company is doing all the right things, but the difficulty is that the oil price is going in the wrong direction. They are buying assets at a great price. Great balance sheet. Doesn’t think there is much they can do until energy prices stabilize. Management has stated that they have no intention of cutting the 12% dividend yield.


Price:
$26.070
Subject:
CANADIAN LARGE & ADRs
Bias:
UNKNOWN
Owned:
Yes
2015-07-13 COMMENT John O'Connell, CFA

From a macro perspective, oil and gas stocks are really trading very, very light right now. This one is suffering from 2 things. First they did a transaction to take over Legacy. It was a smart transaction and helps them consolidate their complete control over the Saskatchewan assets, which are good ones. They financed it through a share exchange ratio, and there have been some risk arbitrage trades, which are putting additional pressure on the company. On top of that they once again issued equity at higher numbers to finance a previous transaction. Have been quite acquisitive recently, which is not a bad thing. The problem is that they are always buying assets and issuing equity. This is very, very dilutive. He is not a big fan although he thinks the dividend is sustainable.


Price:
$26.070
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
Unknown
2015-07-10 COMMENT John Stephenson

This is probably been the best run oil/gas company. 90% oil. Overall, the prospects are very good. Like every energy company it is going to be affected by oil prices. In terms of balance sheet strength and location of the properties, it is a very strong company. Overall, he likes the name, but he is bearish on the industry. He doesn’t see any risk on the 11.5% dividend.


Price:
$26.070
Subject:
NORTH AMERICAN - LARGE & RESOURCE
Bias:
OPTIMISTIC
Owned:
Unknown
2015-07-10 WAIT Kash Pashootan

Quite bearish on energy because he thinks there is still more time for the dust to settle. This is one of the higher-quality names. Have hedged their bets, so haven’t been as affected as some of the others. That is not going to last forever. Also, have a large dividend with a yield of about 10.5%, which is a pretty big burden. What is positive is that this is a time when they can leverage their balance sheet.


Price:
$26.070
Subject:
NORTH AMERICAN DIVIDENDS
Bias:
DEFENSIVE
Owned:
No
2015-07-09 DON'T BUY David Burrows

This group is under pressure. A lot of people bought energy over the last several months thinking it is cheap and that oil prices have to move higher. His contention is that with lots of capital available and new technology that is very efficient at finding new energy, it is likely that the price deck is going to stay low for quite some time. Hedge funds, in particular, went double weight this year, and in the last few weeks, have been throwing in the towel. In this company, the risk is that we are trading virtually on the lows and a lot of people owned this for the dividends. If for some reason the company decides they are going to need to cut the dividend, there are a lot of people that are going to sell their stock.


Price:
$26.070
Subject:
NORTH AMERICAN - LARGE
Bias:
BULL on US EQUITIES
Owned:
No
2015-07-07 TOP PICK John Zechner

He is warming up more to the large oil companies, but he wouldn’t call himself a bull on oil. Thinks OPEC is going to draw more of a line in the sand on defending a $60-$70 oil price. That gives him comfort that we are not heading to $30-$40 oil. They hedged forward all this year’s  production at better than $80 a barrel and are now using their balance sheet to make accretive acquisitions. They are buying some of the depressed, distressed juniors. Dividend yield of 10.59%.


Price:
$26.070
Subject:
NORTH AMERICAN - LARGE
Bias:
BEARISH
Owned:
Yes
2015-07-06 DON'T BUY Norman Levine

He used to own it but no longer does.  The dividend looked safe because of hedging.  But he sold because they can’t continue to hedge out at a price like that. He wonders about the long term safety of the dividend.  They have been making a lot of acquisitions to grow and they kept issuing stock that diluted the stock. They are starting to do that again.


Price:
$25.810
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
No
2015-07-03 COMMENT Mike S. Newton, CIM FCSI

Hasn’t owned this for about 4 years. Wasn’t a big fan of all the deals they kept doing. He knows there have been some good trading opportunities in this, but he is generally not a big fan of the space. Probably a pretty good value play down here, but he has other things working and has no room in the portfolio for it.


Price:
$25.630
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
OPTIMISTIC
Owned:
No
2015-06-29 BUY on WEAKNESS Larry Berman CFA, CMT, CTA

The December low is going to hold.  He wants to be accumulating for the next 10 percent lower.  Beyond the noise of today, this is a buying opportunity for today.


Price:
$25.500
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
UNKNOWN
Owned:
Unknown
2015-06-23 WEAK BUY Paul Taylor

It is a very credible management team. Energy may not be where you want to fish right now, but this one is good if your outlook is 3 to 5 years.  This will be one of those survivors in the energy patch.


Price:
$27.280
Subject:
CANADIAN
Bias:
BEARISH on CANADIAN MARKET
Owned:
Unknown
2015-06-22 BUY Michele Robitaille

High dividend yield.  There is a concern in the marketplace about the sustainability of the dividend, although she is comfortable with it.  If oil stayed here or went lower then she would reconsider the dividend sustainability.  She is cautious about stepping into oil plays in a big way, however.


Price:
$26.690
Subject:
HIGH YIELD EQUITIES & REITS
Bias:
CAUTIOUS
Owned:
Yes
2015-06-22 PAST TOP PICK Peter Brieger

(Top Pick May 20/14, Down 34.64%)  He is down because of the oil mess.  He talked to the company extensively and it is one of the best run companies in the country.  It is going to be a true mid to large cap producer.  They acquire land or companies with land.  They keep on issuing equity to pay for acquisitions.  In the latest deal they picked up 700 wells that are conducive to water flood with recover rates of 15-25%.  Despite all the issuance of new shares, you look at the production growth per share and it is positive.


Price:
$26.690
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
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1 Comment

mylund

December 19th 2013 at 12:44pm

Who would be railing their crude in North America?


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