Viewing Expert Eric Nuttall | StockChase
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Compiling comments that experts make about stocks while on public TV.

Viewing Expert

Eric Nuttall , Portfolio Manager

Sprott Assett Management


Date Signal Chart Symbol Company Opinion Price
2017-01-31 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Energy. We have had oil flat on the year, the loonie generally flat, yet oil stocks are down 10%-15%-20% just this month. Why are stocks selling off? It is clearly on concerns about this border adjustment tax, that if it comes through, will put Canadian companies at a disadvantage relative to their US peers. He doesn’t think they are going to tax energy imports. If you are a politician, one of the largest determinants of presidential approval rate is gasoline prices. There has not been an increase in the US federal tax on gasoline in over 30 years. Part of Trump’s mandate is re-industrializing the US, and how do you do that when you are increasing fuel costs for industry. The reward versus the risk you are taking today, justifies being fully invested in energy. His fund is all in, with a major focus on Canada.


Price:
$0.020
Subject:
ENERGY
Bias:
OPTIMISTIC
Owned:
_N/A
2017-01-31 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Playing natural gas? People were raging Bulls coming into the winter because of a lot of forecasts of a very cold winter. Natural gas has now normalized in terms of inventories. He uses $3 gas in all of his analysis from now until next fall. In the fall of 2018 there is going to be about 21 BCF a day of further take away capacity of the Marsalis, so you are going to have a flood of new supply that will challenge and compete with Canadian gas. From now until then, you are exposed to the vagaries of weather.


Price:
$0.020
Subject:
ENERGY
Bias:
OPTIMISTIC
Owned:
_N/A
2017-01-31 COMMENT Must be logged in to use chart AAV-T Advantage Oil & Gas Ltd

This just continues to get better and better and better. A low cost natural gas producer. They have been doing a great job at really improving production efficiencies, as well as improving the overall productivity of their wells. He struggles with the valuation and the relative growth over the next couple of years. Prefers others.


Price:
$8.390
Subject:
ENERGY
Bias:
OPTIMISTIC
Owned:
Unknown
2017-01-31 TOP PICK Must be logged in to use chart BIR-T Birchcliff Energy Ltd.

Predominantly a gas producer. Trading at a material discount relative to its gassy peers on a production per share growth over the next couple of years. They’ve picked off a great asset from Encana (ECA-T), and part of it has exploration access in the D2 zone, a liquids rich oily zone. He expects results in mid-March and is optimistic they will be successful. They have an internally financed ability to grow production very meaningfully over the next 5 years. Trading at 5.2X, and he thinks it will be able to gain an 8 multiple over the next 18 months, a 65% upside from today’s level. Dividend yield of 1.24%. (Analysts’ price target is $12.70.)


Price:
$8.020
Subject:
ENERGY
Bias:
OPTIMISTIC
Owned:
Yes
2017-01-31 DON'T BUY Must be logged in to use chart BNP-T Bonavista Energy Corp

(Market Call Minute.) Probably a value trap. People have given up on the name. It is probably going to stay cheap for the foreseeable future.


Price:
$4.620
Subject:
ENERGY
Bias:
OPTIMISTIC
Owned:
Unknown
2017-01-31 PAST TOP PICK Must be logged in to use chart BTE-T Baytex Energy Corp

(A Top Pick Feb 23/16. Up 96.6%.) There are times to own and there are times to not own. The time to own is not now. There is no differentiation largely in the marketplace between the “haves” and “have-nots”. This one is clearly a “have not” based on their balance sheet. He wants companies that have excess free cash flow, that they can use to drill, grow production faster and compress their multiples much faster.


Price:
$5.190
Subject:
ENERGY
Bias:
OPTIMISTIC
Owned:
No
2017-01-31 COMMENT Must be logged in to use chart CFW-T Calfrac Well Services Ltd

This was on the edge of bankruptcy not long ago. Along with the entire service sector, they are benefiting from a massive increase in CapX this year, due to rising oil and gas prices. In Canada there are 3 fracers, and this is his least favourite. While they have done a pretty good job of avoiding covenant violations, they don’t have as much flexibility as he would like them to have. (See Top Picks.)


Price:
$4.230
Subject:
ENERGY
Bias:
OPTIMISTIC
Owned:
No
2017-01-31 PAST TOP PICK Must be logged in to use chart CJ-T Cardinal Energy Ltd

(A Top Pick Feb 23/16. Up 40.98%.) This remains a core holding for him, and he is still buying. He is looking for 87% upside.


Price:
$10.490
Subject:
ENERGY
Bias:
OPTIMISTIC
Owned:
Yes
2017-01-31 DON'T BUY Must be logged in to use chart CNQ-T Canadian Natural Rsrcs

Peyto Exploration (PEY-T) or Canadian Natural Resources (CNQ-T)? Two different companies. Apples to oranges. He wouldn’t own either. This has great stewards of capital. A big company and doesn’t know why you would want to own a large cap Canadian stock. He can buy a company that can grow production by 10%-15%, spending 1X cash flow with a good balance sheet that has well over 10 years of inventory. Prefers others.


Price:
$39.340
Subject:
ENERGY
Bias:
OPTIMISTIC
Owned:
No
2017-01-31 DON'T BUY Must be logged in to use chart CPG-T Crescent Point Energy Corp

(Market Call Minute.) Probably a value trap. People have given up on the name. It is probably going to stay cheap for the foreseeable future.


Price:
$15.170
Subject:
ENERGY
Bias:
OPTIMISTIC
Owned:
Unknown
2017-01-31 COMMENT Must be logged in to use chart DEE-T Delphi Energy Corp.

A small-cap that has been around for 12-14 years. They have a good quality asset with improving well results. They have an exploration well that is academically intriguing. Has always been challenged with such a small company drilling such expensive wells where the concentration risk is so high. The CEO left unexpectedly which makes him a little nervous. Also, the valuation is not compelling enough for him to get excited.


Price:
$1.460
Subject:
ENERGY
Bias:
OPTIMISTIC
Owned:
No
2017-01-31 COMMENT Must be logged in to use chart ECA-T Encana Corp

He has not been a big fan of this, however this is now a US Permian name and is trading at a massive discount. If he had to own one of the large caps, it would probably be this one.


Price:
$16.610
Subject:
ENERGY
Bias:
OPTIMISTIC
Owned:
No
2017-01-31 SELL Must be logged in to use chart HSE-T Husky Energy

This is a value trap. It will never garner any semblance of a multiple due to the ownership.


Price:
$16.790
Subject:
ENERGY
Bias:
OPTIMISTIC
Owned:
No
2017-01-31 COMMENT Must be logged in to use chart PD-T Precision Drilling

Trades at a premium multiple because it is one of the few actual liquid service names in Canada. We have a big service sector, but so many of them are small companies. He is more bullish on the pumpers than he is on the drillers. On the drillers, there is a lot of excess capacity in equipment.


Price:
$7.320
Subject:
ENERGY
Bias:
OPTIMISTIC
Owned:
Unknown
2017-01-31 DON'T BUY Must be logged in to use chart PEY-T Peyto Exploration & Develop.

Peyto Exploration (PEY-T) or Canadian Natural Resources (CNQ-T)? Two different companies. Apples to oranges. He wouldn’t own either. This one gives you natural gas exposure in Canada. They’ve had some issues with take away capacity in pipelines. The shine has come off the story. It has traded at a significant premium, and he thinks they are going to be losing that relative to some of their peers. Prefers others.


Price:
$28.320
Subject:
ENERGY
Bias:
OPTIMISTIC
Owned:
No
Showing 1 to 15 of 1,170 entries
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6 Comments

petersirie

December 17th 2012 at 6:46pm

Keep up the quality commentary please. I have really appreciated your insight.

boblewellyn@yah

March 16th 2013 at 7:50pm

There is a report that Petrobakken has started a gas injection program that has substantially increased their production and reserves. Stock closed at $9.50 on Friday, March 15, 2013, probably because of this report.

car2nz

April 10th 2014 at 3:12pm

When Eric says BUY...You should be SELLING ...When he says Sell...You should be BUYING. He is consistently WRONG! It's amazing!

BeauRegard

April 21st 2014 at 3:36pm

Not the sharpest knife in the drawer!

CH-Investments

April 26th 2014 at 10:04am

Not a fan of all his picks but some of them have great potential to generate a large profit. Have found a number of decent picks here and have done my own analysis which has made me operate at a decent profit.

3clicks

June 1st 2016 at 9:35am

I like Eric for his overall market commentaries. But gotta be cautious with his picks although BTE was a great advice.


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