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

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 Jul 20/21, Up 113%) Believes there is a lot more upside in the share price. Largest active manager investor in the company. Currently trading at ~1.5x cash flow and has 45% free cash flow yield. Management on board with returning capital to shareholders. Expecting company to be debt free in Q3 next year. Expecting a 5x multiple or a $32 share price.

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BUY

CPG vs. BIR More balanced oil and nat gas, whereas BIR has more nat gas. Good turnaround from new management. Cheap on free cashflow basis. He'd definitely look at it at these prices.

HOLD

The highs we saw in May might end up being the highs of the cycle. Cheap now. Generating gobs of cash and giving it to shareholders. Not a long-term growth position at this point. He hasn't added to the sector since mid-June.

BUY

Why target debt instead of zero debt? Their target debt was based on $45 WTI, less than half of where oil is now. That would be great for their balance sheet. They also talk about capital returns to shareholders, with theirs being 16% compared to peers at 11%. If oil stays at these levels, CPG is cheaper than the group and is executing well. He's been trading, but would be a net buyer.

BUY

Believes prospects for energy companies is good. Recent capital discipline is renewing interest in company. Even if oil price goes to $80, company will preform well. Less capital going into exploration and drilling programs will keep oil prices up. Positive on the prospects of the company.

BUY

Cleaned up balance sheet. More focused than before. Goal is to return 50% of cashflow to shareholders. Free cashflow yield north of 20%. A good name. Nice dividend around 3.8%, which may increase.

COMMENT

No doubt it's a cheap stock, but Devon Energy has lost 25 straight points (which is ridiculous) in a round trip. Buy Devon.

BUY

$100 oil solves all their problems. Paid down debt. Increased dividend, and that's the right thing to do. This move will attract new investors. Even oil at $80-100, these companies are highly profitable.

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WEAK BUY

Reducing leverage on balance sheet. Should be close to net cash by end of 2022. Relatively cheap versus the peer group. Letting hedges roll off, so should see better cashflow. Production looks relatively flat for the next couple of years. Recently raised dividend. Once energy consolidates, names like this should do well.

BUY

John: 40% free cashflow yield. Cheap. Still makes money if oil goes down to $50.

BUY

It's one of the higher-levered companies to energy pricing. They are well-positioned in the US Bakken. Probably they can drill more and get more oil to market fairly quickly. Likes it and this should go higher.

BUY ON WEAKNESS

Pays a 2.88% dividend yield and suspects that's safe given oil prices. He prefers Suncor and CNQ and Chevron, larger caps in energy. CPG is down 34% in 11 days, along with many energy stocks. So, now is an opportunity. Likes it. Oil supply can't meet demand.

DON'T BUY

Energy stocks have fallen the past week, despite good long term prospects for sector. Has not bought Canadian energy stocks due to price discount in Canada. Would not buy shares in company. Prefers European names in sector.

BUY

Shares will be driven by oil's price. She prefers the pipeline stocks because they pay good dividends and are less volatile than oil stocks. If you're bullish oil, you can buy CPG.

TOP PICK

With his three top picks he is aiming to create a portfolio that even if it doesn't work in the short or medium term it won't collapse. CPG is 4 1/2 X Earnings and 1 X Book Value. Oils should continue to do well. Buy 11, Hold 2, Sell 0. (Analysts’ price target is $14.92)

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Crescent Point Energy Corp (CPG.TO)