Two high-yielding energy stock picks

Article Excerpt

Natural gas prices recently dropped below $2 U.S. per thousand cubic feet, a 10-year low. That’s mainly because of new shale gas discoveries. Prices have since moved up to $3.16, but still well below last year’s high of almost $5. Oil prices have weakened, as well. They are now down 18%, from $109 a barrel in February to $89 today. Oil prices will continue to vary, while gas prices will likely recover. Meanwhile. the long-term outlook for both of these stocks is positive. CRESCENT POINT ENERGY CORP. $39.62 (Toronto symbol CPG; Shares outstanding: 329.1 million; Market cap: $13.0 billion; TSINetwork Rating: Extra Risk; Dividend yield: 7.0%; www.crescentpointenergy.com) produces oil and natural gas in western Canada. Its production is weighted 91% toward oil and 9% to gas. The company continues to focus on its Bakken light-oil development in southeastern Saskatchewan. In the three months ended March 31, 2012, Crescent Point’s cash flow per share rose 21.8%, to $1.34 from $1.10. The company’s shares yield…