Every Tuesday we bring you “Best Canadian Stocks.” You get our specific recommendation on the stocks we profile, with a full explanation of how we arrived at our opinion. You’ll read about stocks making moves you should know about, from coverage in one of our three newsletters featuring Canadian stocks—The Successful Investor, Stock Pickers Digest and Canadian Wealth Advisor.
CRESCENT POINT ENERGY CORP. (Toronto symbol CPG; www.crescentpointenergy.com) produces oil and natural gas in Western Canada, with a focus on its Bakken light oil development in southeastern Saskatchewan. Its output is 91% oil and 9% gas.
In the three months ended June 30, 2014, Crescent Point’s cash flow rose 26.2%, to $636.7 million from $504.4 million a year earlier.
The company increased its output by 16.7%, to 137,368 barrels of oil equivalent from 117,799. That, plus higher oil and gas prices, was the main reason for the higher cash flow. Cash flow per share rose at a slower rate of 18.3%, to $1.55 from $1.31, because Crescent Point issued shares to pay for acquisitions.
The conservative advantage
Conservative investors have one big advantage—when you guard your money, you’re ready for the tremendous opportunities that appear when the market moves up. Opportunities like Pat McKeough’s Safety-Conscious Stock of the Year for 2013. Bank of Nova Scotia proceeded to hit all-time highs, rising by as much as 12.9% while rewarding investors with the generous 3.9% dividend yield. Pat made it his Safey-Conscious Stock of the Year again for 2014 and it’s up over 20% since he picked it this time.
You find many more opportunities like this when you read Canadian Wealth Advisor, Pat McKeough’s newsletter for conservative investors who want to earn more with less risk. As a new subscriber you can save $50.00 on an introductory subscription. Click here to start your risk-free subscription to Canadian Wealth Advisor now.
Energy stocks: New acquisition adds 10,000 barrels a day to Crescent Point production
In May 2014, the company paid $1.1 billion in cash and shares for CanEra Energy, which produces an average of 10,000 barrels of oil a day and has plenty of exploration potential. Crescent Point now expects to end 2014 with output of over 149,000 barrels a day.
The stock yields a high 6.2%. Crescent Point paid out just 45% of its cash flow as dividends in the latest quarter, so its current rate looks sustainable.
The company will likely generate $6.45 a share in cash flow for all of 2014, based on today’s oil and gas prices.
The stock trades at 6.7 times that estimate. That’s reasonable in light of Crescent Point’s strong growth prospects.
Crescent Point Energy is a buy recommendation of our advisory on safety-first investing, Canadian Wealth Advisor.
If you’re a member of Pat’s Inner Circle and you’d like to ask a question about today’s article or another stock or investment topic, please go to the question page reserved for you (be sure you’re logged in first). Click here to ask your question.
And tomorrow … Check in for our special report on the power of dividends in Investor Toolkit. And look for our report on the credit card company Warren Buffett prefers this Thursday in Best U.S. Stocks.
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Every Tuesday we bring you “Best Canadian Stocks.” You get our specific recommendation on the stocks we profile, with a full explanation of how we arrived at our opinion. You’ll read about stocks making moves you should know about, from coverage in one of our three newsletters featuring Canadian stocks—The Successful Investor, Stock Pickers Digest and Canadian Wealth Advisor.
