Oil Stocks: John Stephenson, senior VP and portfolio manager, First Asset Investment Management (Part II)
John Stephenson, senior VP and portfolio manager, First Asset Investment Management on North American large cap oil stocks (PART II)
TRANSALTA (TSE:TPW.UN): might provide attractive opportunities here and there..people believe there will be distribution cut..if you can buy below $8..
DUVERNAY OIL (TSE:DDV): bluechip oil & gas company..great balance sheet..600 potential well targets..had exemplary record in terms of production..
VERMILION ENERGY (TSE:VET.UN): international operations..France, Australia..selling at European prices..cold winter last year unlike us..competing for assets that are less competitive..great name
PENN WEST (NYSE:PWE TSE:PWT.UN): large land mass, good operating metrics..if you do see huge pullback in commodity price, certainly possibility (distribution cut), but this is not one of those names that I'm worried about..
TRILOGY ENERGY (TSE:TET.UN): hold..middle of the pack..I don't see a tremendous catalyst to buy until gas picks up
CYRIES ENERGY (TSE:CYS): might be acquired by a trust, more likely scenario (than conversion)..
TOP PICK COUNTRY SIDE POWER (TSE:COU.UN): want to be defensive..utilities..in stable/declining interest rates..small, ~$200 million market cap..well compensated to hold..10-10.5% yield..80% payout, lower..upside through distribution increase or acquisition..lack of liquidity, small following
TOP PICK FORTIS INC (TSE:FTS): more defensive..opportunity for upside..relatively low payout ratio, low-50s..management top-flight..
TOP PICK BAYTEX ENERGY (NYSE:BTE TSE:BTE.UN): heavy oil-weighted name..could see 20-25% upside..
TRANSALTA (TSE:TPW.UN): might provide attractive opportunities here and there..people believe there will be distribution cut..if you can buy below $8..
DUVERNAY OIL (TSE:DDV): bluechip oil & gas company..great balance sheet..600 potential well targets..had exemplary record in terms of production..
VERMILION ENERGY (TSE:VET.UN): international operations..France, Australia..selling at European prices..cold winter last year unlike us..competing for assets that are less competitive..great name
PENN WEST (NYSE:PWE TSE:PWT.UN): large land mass, good operating metrics..if you do see huge pullback in commodity price, certainly possibility (distribution cut), but this is not one of those names that I'm worried about..
TRILOGY ENERGY (TSE:TET.UN): hold..middle of the pack..I don't see a tremendous catalyst to buy until gas picks up
CYRIES ENERGY (TSE:CYS): might be acquired by a trust, more likely scenario (than conversion)..
TOP PICK COUNTRY SIDE POWER (TSE:COU.UN): want to be defensive..utilities..in stable/declining interest rates..small, ~$200 million market cap..well compensated to hold..10-10.5% yield..80% payout, lower..upside through distribution increase or acquisition..lack of liquidity, small following
TOP PICK FORTIS INC (TSE:FTS): more defensive..opportunity for upside..relatively low payout ratio, low-50s..management top-flight..
TOP PICK BAYTEX ENERGY (NYSE:BTE TSE:BTE.UN): heavy oil-weighted name..could see 20-25% upside..
posted by Spelunca at 6:55 PM
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