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

SELL

Longer-term outlook is "When will we hit peak traditional energy demand?". Big oil is not investing any more in North America. There is a window there where oil prices will stay high due to this lack of investment. Hard to time. Interesting for traders but long-term investors should sell into the strength.

BUY

Has been buying shares in company for the past few weeks. Expecting plan for return of capital to shareholders soon. Company at point where inventory depth is adequate. Currently trading at 1.9x cash flow and has 29% free cash flow yield. Expecting company to be debt free next year. Will start seeing share buybacks and dividend increase. Share price should be around $22 (91% upside). 4th largest shareholder at the moment.

BUY ON WEAKNESS

Believes company has been overlooked by investors. Company trading at a very cheap multiple. Risk is that company does not execute, or Russia tensions fall. Expecting company share price to increase if oil prices remain strong.

COMMENT

Obviously CPG has benefited from rising oil prices. She owned this years ago, but now prefers the pipelines, which avoid oil price utility. CPG will go where crude oil goes.

BUY

Similar to Baytex, but carries a little more debt. They have sold some assets to re-focus. They have leverage to the upside, but if you are negative about oil, you can short this.

TOP PICK

These companies have finally got religion by treating their shareholders better by paying down their debt, raising dividends and buying back shares. Trading at a 20%+ free cash flow yield. He chose CPG and sees more upside than other oil companies, because CPG was the worst offender (under the past CEO) in buying companies, issuing more stocks and diluting shares. Now, they've changed--consolidating, raising the dividend, paying down debt and buying back shares. Of course, it benefits from high oil prices. (Analysts’ price target is $13.71)

BUY

A name you want to own. New management has really focused the company on nat gas. Balance sheet is improving significantly. Will probably be able to raise dividend later this year. $20 target in next 3-5 years, with potential dividend increases along the way.

COMMENT

It is a good company and has done well navigating through the oil and gas turmoil. It is buying back stock. The oil and gas business is tricky. Consider Tourmaline (TOU) as a more diversified company and its sister company Topaz. He also suggested Rubilex (RDY) as a very good micro cap. It is not being followed, trades at 2X cash flow and has very good drilling/exploration potential in a project.

Unspecified

It is a leveraged play. About 85% liquids. There will be a bonanza of cash flow due to higher commodity prices but don't hold through the cycle. There is a better one in the top picks.

Unspecified

It is a decent company which is earning its stripes back. There is still upside if management continues to be diligent to their commitments. Oil is still in a seasonal uptrend.

HOLD

Has followed company for a number of years, but does not own stock. Company has preformed well the past few years. A lot of properties that have potential. Will be a good investment in next 2-3 years. Not a good term short term hold (1-2 months). Stock price is fairly valued.

PAST TOP PICK

(A Top Pick Mar 30/20, Up 777.3%) He bought when they were throwing these stocks out. In his personal portfolio, he's now sold all his oil stocks, seeking better returns elsewhere.

N/A

Free cash flow yield very high. Reason company not trading higher is because of ESG concerns. Investors worried about how long energy prices will remain strong. Concerns about value of long dated reserves.

TOP PICK

Fits in with his themes of what's timely. Reasonably cheap, FMV is way higher. The kind of stock you can comfortably be in and not expect anything bad to happen. Yield is 2.14%. (Analysts’ price target is $10.95)

BUY

Believes company will raise dividend soon. Has made some good acquisitions of assets. Cost savings and improved economics will increase stock price. $80 oil price, share price should be $13. $100 oil price, share price should be $19.

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Crescent Point Energy Corp (CPG.TO)