Vero Energy Inc. (VRO.TO) Buy, Sell or Hold

Vero Energy Inc. (VRO.TO)

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Gas weighted in the Montney northwest Alberta, the most prolific and economic play. If you like gas this would be the one. He is inclined to wait until spring to see how much gas is around.

BUY ON WEAKNESS

Just announced 09 numbers, which were very positive. Stock jumped 15%. Support is probably around $4.80. Wouldn't be surprised to see a pullback to $6-$6.10. Technically he can see a trading up to about $8.

HOLD

Gas weighted. Had a little bit too much debt last year so the stock price came off quite a bit but is now starting to move up. Valuations are good but have to do something with their debt.

PAST TOP PICK

(A Top Pick April 24/09. Down 4.5%.) Still a Buy.

BUY

Small but has a pretty good balance sheet and is a low-cost producer. Pretty good drill results.

PAST TOP PICK

(A Top Pick Apr 24/09. Down 3.8%.) Natural gas producer. Great asset base. Will be doing a fair amount of drilling activity over the next 6 months.

PAST TOP PICK

(Top Pick Nov 14/08, Down 25%) Because of debt load they have not done as expected.

HOLD

Junior Alberta gas producer. A little bit weaker than its peers. OK but not one of the stronger ones in the sector. Management is working on the debt problem. You have to keep your eye on it.

BUY

If you are looking for a stock that is going to benefit with an uptick in gas prices, this is one of the top picks.

DON'T BUY

An unhedged player and have had to shut in gas so have had some difficulties lately. Did an equity offering because they had borrowed money so management wouldn't have to sell its stock. Prefers companies that do not do this.

SELL

Did an equity raise and have a lot of debt coming due. Up against some of their bank lines. If you own, consider selling for tax loss purposes.

WAIT

Will be driven by natural gas prices. Did a tremendous job historically in growing on a per-share basis. Stumbled last year and coming into 2009 in maintaining an aggressive capital program in the face of weakening prices. Got a little over leveraged and had to do an equity issue to fix the balance sheet.

COMMENT

Likes natural gas but right now you need a bit of patience. There has been a 50% decline in rigs. Factor in a lag of about 15 to 18 months. Thinks we will be facing major shortages. Expect there will be a lot of demand in the US is utilities change from coal to gas.

BUY

No balance sheet issues. Recently good production. Could be taken out.

BUY

Junior natural gas producer based in western Canadian. Good land package. Good production growth profile. Quite cheap.

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Vero Energy Inc. (VRO.TO)