RE:RE:One of Nuttall's top picks: TOP PICK
Crescent Point Energy Corp(CPG-T)
22/04/2024
The CPG today is not the CPG of old. It used to have a lot of low-grade wells and bought a lot of companies. Now, they have a serious drilling inventory in the Montney and Duvernay, economic ones in the latter. The board is now conservative and respected. they have more than enough . He projects 3.5x free cash flow inventory, 60% returns to shareholders and the rest to the bank to pay off purchases. In a year or so, that ratio should be 80/20. Meanwhile, are buying back shares and continue drilling profitable wells. He targets around $20. It ticks all the boxes.
(Analysts’ price target is $14.63)
Oil / Gas
Eric Nuttall
$11.900
Owned