Beginning today, we launch Best Canadian Stocks, a feature which will appear every Tuesday as our daily post. We also launch a new approach—you will get our specific advice on whether to buy, hold or sell the stocks we profile, with a full explanation of how we arrived at our opinion. You will read about stocks making moves you should know about covered in one of our three newsletters featuring Canadian stocks—The Successful Investor, Stock Pickers Digest and Canadian Wealth Advisor.
On Thursday, look for our first weekly feature on U.S. stocks, complete with our specific buy, hold and sell advice.
PENGROWTH ENERGY (Toronto symbol PGF; www.pengrowth.com) produces oil and natural gas in Western Canada and off the Nova Scotia coast. Gas accounts for 55% of its production; the other 45% is oil.
Pengrowth produced 75,102 barrels a day (including gas) in the first quarter of 2014, down 16.3% from 89,702 a year earlier. The company’s cash flow fell 6.9% in the quarter, to $0.27 a share from $0.29.
Output fell mainly because it sold several less important oil and gas properties in Western Canada. It’s investing the proceeds in more promising projects, including its Lindbergh oil sands development in Alberta’s Cold Lake region.
Conservative investors have one big advantage—when you safeguard your money, you’re prepared to take advantage of the opportunities that appear as the markets move 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 19% since he picked it.
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: Holding 229.7 million proven and probable barrels, Lindbergh slated to start up in 2015
Pengrowth recently announced that Lindbergh holds more oil than originally estimated. According to an independent consulting firm, the property has proven reserves of 101 million barrels, up 24% from its previous estimate at the end of 2013. If you include probable reserves, Lindbergh holds 229.7 million barrels, for a 61% increase.
The company expects Lindbergh’s first phase to start up in early 2015 and produce 12,500 barrels a day. That’s equal to 16.6% of Pengrowth’s first quarter output. Future phases will raise the project’s daily production to 50,000 barrels.
The company continues to pay a monthly dividend of $0.04 a share, for a 6.5% annualized yield. Dividends accounted for 45% of its cash flow in the latest quarter, so the payout seems safe.
Pengrowth Energy is a buy recommendation of Pat McKeough’s advisory on safety-conscious 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, please go to the question page reserved for you (be sure you’re logged in first). Click here to ask your question.
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Beginning today, we launch Best Canadian Stocks, a feature which will appear every Tuesday as our daily post. We also launch a new approach—you will get our specific advice on whether to buy, hold or sell the stocks we profile, with a full explanation of how we arrived at our opinion. You will read about stocks making moves you should know about covered in one of our three newsletters featuring Canadian stocks—The Successful Investor, Stock Pickers Digest and Canadian Wealth Advisor.
