CRESCENT POINT ENERGY CORP. (Toronto symbol CPG; www.crescentpointenergy.com) produces oil and natural gas in western Canada. Its output is weighted 90% toward oil and 10% to gas.
The company continues to focus on its Bakken light oil development in southeastern Saskatchewan.
In the three months ended June 30, 2013, Crescent Point’s cash flow rose 30.6%, to $504.4 million from $386.3 million a year earlier.
The company raised its production by 21.5%, to 117,799 barrels of oil equivalent (including gas) from 96,972 a year earlier. That was the main reason for the higher cash flow. Cash flow per share rose just 10.1%, to $1.31 from $1.19, because Crescent Point issued new shares to pay for acquisitions.
Energy stocks: Purchase of Ute Energy brings 8,000 barrels a day plus growth potential
Crescent Point spent about $3 billion purchasing other companies in 2012. These deals included the late-2012 purchase of Ute Energy for $861 million U.S. Ute added 8,000 barrels of oil per day in Utah, as well as lots of expansion potential.
The stock yields a high 7.3%. Crescent Point paid out 53% of its cash flow as dividends in the latest quarter.
In the latest issue of Canadian Wealth Advisor, we look at the outlook for Crescent Point’s cash flow based on today’s oil and gas prices and whether the company can continue to sustain its high dividend. We conclude with our clear buy-hold-sell advice on the stock.
COMMENTS PLEASE—Share your investment knowledge and opinions with fellow TSINetwork.ca members
Crescent Point Energy has a high dividend yield, yet it is in a volatile industry. Do you prefer to get your dividends from less volatile sectors like banks and utilities? Or do you like the idea of a high dividend yield plus the chance for rapid growth that comes with a stock in a more cyclical or volatile sector? Let us know what you think.
Comments
Ernie
I purchased CPG (2M) almost 4 years ago and has been one of the most beneficial stocks I own. The share price has not risen that much but the dividends (7.2%) have been a monthly addition to my account. The company reports about current income and expansion are good to hear.
I like high dividends, growth and steadiness, so I have positions in the 4 major banks, plus CPG, BTE, SU, WCP and HSE, 5 pipelines, utilities, industry and one telecom, BCE; all Canadian. It seems like a good mix. Your comments on CPG are welcome as I will be adding to it this autumn
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I purchased CPG (2M) almost 4 years ago and has been one of the most beneficial stocks I own. The share price has not risen that much but the dividends (7.2%) have been a monthly addition to my account. The company reports about current income and expansion are good to hear.
I like high dividends, growth and steadiness, so I have positions in the 4 major banks, plus CPG, BTE, SU, WCP and HSE, 5 pipelines, utilities, industry and one telecom, BCE; all Canadian. It seems like a good mix. Your comments on CPG are welcome as I will be adding to it this autumn