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Crescent Point Energy Corp Stock Symbol: CPG-T

Last Price Recorded: $15.3300 on 2015-08-30

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Date Signal Expert Opinion Price
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
2015-06-18 COMMENT Greg Newman

Just issued a lot more equity, which is helping to protect their balance sheet. Paying a real high dividend. Debt to cash flow is pretty high at around 2.5X. There are better ways to be making money than this. If you have it, OK.


Price:
$27.340
Subject:
CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias:
BULLISH
Owned:
Unknown
2015-06-15 BUY Teal Linde

50% of production is hedged over 90%.  As time goes by the hedges roll over and then cash flow will come down.  The 10% yield they can maintain.


Price:
$27.040
Subject:
NORTH AMERICAN
Bias:
CAUTIOUS
Owned:
No
2015-06-12 BUY Swanzy Quarshie

Thinks this one is a Buy in this kind of environment. You do want to be in a company where their capital is essentially going to be safe. This is a call option on higher oil prices. Did an acquisition of Legacy Oil, which is a very good acquisition. It is accretive and right in their backyard. She thinks the market is getting fatigued with their deals.


Price:
$26.960
Subject:
OIL & GAS
Bias:
OPTIMISTIC on ENERGY
Owned:
Unknown
2015-06-10 TOP PICK Dennis Da Silva

Acquiring Legacy (LEG-T). They have garnered a reputation for being a serial issuer. In this kind of oil price environment, people probably now appreciate that they issued stock and didn’t leverage up to do a lot of deals they did. Leaves them in a strong position. The 10.08% dividend is safe given the hedging they have in place for this year, and about a 3rd into 2016. The balance sheet is still solid.


Price:
$27.470
Subject:
CANADIAN RESOURCE
Bias:
OPTIMISTIC
Owned:
Yes
2015-06-10 COMMENT Hap (Robert) Sneddon FCSI

Had good support of around $35 for a number of years. Currently there is a shorter term support at around $27.50, which it has tested a couple of times. If it doesn’t hold this level, it would probably go to the low it had at the end of December and the low $20s. Dividend yield of around 10%.


Price:
$27.470
Subject:
TECHNICAL ANALYSIS
Bias:
UNKNOWN
Owned:
No
2015-06-09 HOLD Christine Poole

The company did an equity issue to buy Legacy a couple of weeks ago. Got it at a good price and it is going to be a good acquisition for them longer-term. The company has cut capital spending. Have a very good hedging position this year. Dividend yield of 10.2%, and they would rather cut capital spending rather than cut the dividend.


Price:
$27.130
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-06-08 WEAK BUY Eric Nuttall

Raised $600 Million a week or two ago to fund an acquisition, which he likes.  He likes CPG-T.  If we get to $60 oil it could be a $30-$32 stock.  People don’t like the sustainability of the dividend.  They were at 135% payout, but after this acquisition it lowers the payout by about 10 points.  Their dividend should be seen as more sustainable.  He doesn’t see the dividend being cut. 


Price:
$26.490
Subject:
OIL, GAS & SMALL-CAP CANADIAN
Bias:
SELECTIVE
Owned:
Unknown
2015-06-08 COMMENT Michael Sprung

There have been a number of moving parts lately. Just acquired Legacy, which was a big acquisition. In order to do so, they had to raise capital, which increased debt to cash flow to around 3.4 times. Also, increased their payout ratio to over 100%. They are not earning their dividend, so are depending again on their DRIP program. Yield of around 10%, is usually a worrying sign. He is not adding to his position, but is watching it carefully.


Price:
$26.490
Subject:
CANADIAN LARGE
Bias:
CAUTIOUS
Owned:
Yes
2015-06-04 COMMENT Mike S. Newton, CIM FCSI

Recently did a new issue again. They are very busy, and he applauds them on how busy they are. Their balance sheet is pretty strong and they have the flexibility to maintain that dividend. But they absolutely have to have the oil price recover, and he doesn’t believe that will happen.


Price:
$27.330
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
BULLISH
Owned:
No
2015-06-03 COMMENT Alex Ruus

On this one, you really have to have an outlook on where you think oil is going. If you are bullish on oil, this is one of the plays to own. A dominant producer in the Bakken in Saskatchewan. Recently acquired Legacy, which had good assets that were complementary to this company’s holdings. He sees oil in the next 6 months as flat to slightly down, but as we go into next year it should start to rise. This would be one of the positions he would be comfortable owning here.


Price:
$28.030
Subject:
NORTH AMERICAN
Bias:
BULLISH
Owned:
Unknown
2015-06-01 HOLD Peter Hodson

He has always had a problem with them constantly issuing equity.  He would prefer a company that didn’t need to do it.  The Legacy acquisition is okay.  He likes them more now than last year because more of their assets are outside of Alberta.  If the cycle turns, the acquisition will look really good.  Don’t worry about the dividend.


Price:
$28.030
Subject:
CANADIAN SMALL & MIDCAPS
Bias:
BULLISH on SMALL CAPS
Owned:
Unknown
2015-06-01 TOP PICK Bruce Campbell (1)

Acquired Legacy (LEG-T) and had to assume some debt to do some equity. In a sense that is the kiss of death for some people, but this is an accretive acquisition and you didn’t want them to do it for all debt. The equity issue is at $28.50 and the stock is still $.50 underwater. Thinks that at around $28 with a 2.76% dividend, it gives you almost a 10% yield. If it goes back to where it was 2 days before the acquisition, the stock will be up 10 from here and with a 10% dividend, $31 a year from now gives you a 20% return. Yield of 9.85%.


Price:
$28.030
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
2015-05-27 COMMENT Bill Bonner

The behaviour in the market today would suggest that the financing they did didn’t go as smoothly as what they had hoped. Just acquired Legacy (LEG-T), which was a name that he liked once. As time marched on, their balance sheet just overcame all the upside. Crescent Point is getting some outstanding assets. This is one of the best Saskatchewan operators, but he prefers others.


Price:
$28.190
Subject:
CANADIAN ENERGY
Bias:
UNKNOWN
Owned:
No
2015-05-26 COMMENT Norman Levine

This is a serial acquirer and issuer of shares. This works great for investment bankers, but not as great for shareholders over time. They have had a tendency of buying in areas that are contiguous where they already have operations. He liked them when they were not buying and issuing shares. Recently sold his holdings.


Price:
$29.820
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
Showing 1 to 60 of 897 entries
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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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