yesterday from David Cockfield.GLTA

  • Crescent Point Energy (CPG TSX) A fast growing Canadian oil-focused company dominant in Bakken oil play in Saskatchewan and North Dakota. The company has been very active in acquiring smaller oil companies and adding to its already large land position. The company is highly ranked for its excellent operating record. Growth through acquisition has meant dilution of the shares but the company has continued to be able to pay an excellent dividend presently at 7.5 percent. Recent purchase in December @ $36.98.

 

2012-12-13 TOP PICK David Cockfield

Bakken oil in Saskatchewan/North Dakota. Always feels it is a good Buy under $40. Had just got too far ahead with their acquisitions. Acquisitions often include stocks and then there is the Hold on the stock, but then the Hold runs out and people start cashing in. They have more or less said they are going to step back a little bit and not do so many acquisitions. Feels the dividend is very safe and have a great DRIP plan. Expect they will be shipping over 40,000 barrels a day by tank car.


Price:
$36.980
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
Yes