Crescent Point Energy Corp (CPG.TO) Buy, Sell…

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Crescent Point Energy Corp (CPG.TO)

11.72

-0.04 (0.34%)

as of May 14, 2024, 8:00:00 pm Market Open.

802 watching

PAST TOP PICK

(A Top Pick Feb 17/22, Up 18%)

Nice in the past year and could get even better. Still bullish on oil and gas.

BUY

Has traded stock in the past.
Current trend line suggesting good time to buy.
Energy fundamentals strong.

HOLD

Company is inventory light (less than 10 years).
Better names to own in energy sector.
Current shares are mis-priced, but very short term hold given inventory concerns.

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Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

TOP PICK

Stockchase Research Editor: Michael O’Reilly

We reiterate CPG, operator of low-risk,high return assets generating great cash flow, as a TOP PICK. Less than 20% of its production is natural gas. It is generating over $1 billion of free cash flow annually, allowing cash reserves to grow while debt is aggressively repaid and stock bought back. We recommend trailing up the stop (from $6) to $7, looking to achieve $14 — upside potential over 45%. Yield 2.4%

(Analysts’ price target is $13.94)

BUY ON WEAKNESS

He's buying. Hard to resist a stock that's trading at 3-3.5x operating cashflow when they're starting to pay down debt, return cash to shareholders, and unwind mistakes of the past decade. Risk is oil prices collapsing, but he's not really worried about that despite a slowdown, as there are still lots of supply issues.

BUY

Good company at current share price.
Energy stocks have stalled at current prices.
Supply/demand situation settling in.
SPR purchase by USA at $70 good for investors.
$70-$80 floor good for business.

PAST TOP PICK

(A Top Pick Dec 21/21, Up 69%) Energy performed very well this year. High energy prices will continue to hold. New discipline paying off for shareholders (returning capital to shareholders). Increasing dividends, paying down debt and share buybacks will reward shareholders. Thinks excess cash flow should be invested in renewables or, other growth areas.

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Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

TOP PICK

Stockchase Research Editor: Michael O'Reilly A play that western Canadian oil prices can be sustained. The company can generate $1.25 billion in excess cash flow at $80 WTI. It announced a 25% increase in the base dividend for 2023 and an acquisition of prolific Duvernay assets. It trades at under 3x cashflow and under book value. Recent earnings support a ROE of 33%, while the company is aggressively retiring debt. We recommend a stop loss at $6, looking to achieve $13 - upside potential over 40%. Yield 2.8% (Analysts’ price target is $13.09)

Unspecified

It is a dominant player in that sector of the economy. It has made a new acquisition in Duverney and it might take some time to drill it out. It is well run and is coming back.

HOLD

Not buying shares at this time. Waiting for company to increase acreage. Better companies to invest in.

HOLD

Believes is a good company, but thinks energy prices will not remain high for the long term. If going into recession, then oil prices will fall. Rising interest rates are likely to push economy into recession.

PAST TOP PICK

(A Top Pick Oct 28/21, Up 74%) Cheap PE. Excellent upside potential. Likes fossil fuel industry going forward. Gross underinvestment. Powers that be continue to put pressure on the sector.

Unspecified

It has returned free cash flow but he is worried about inventories. It will need better quality inventory and to be active in acquisitions. It is good on other counts such as management.

BUY

Is positive on energy sector. Good company that has had a turnaround. Return of capital (dividends and buybacks) is good for investors. Overall, is a good business going forward. Believes will be a continued need for fossil fuels.

BUY

Lowest of high conviction names. Has sold shares even though believes company has large upside. Expects share price to rise.

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Crescent Point Energy Corp (CPG.TO)