oil and gas
The highest yield dividend stocks are great for your portfolio—but only if there’s a history of paying a steady dividend and the high yield isn’t misleading
CRESCENT POINT ENERGY $2.19 (Toronto symbol CPG; Shares o/s: 529.3 million; Market cap: $1.2 billion; TSINetwork Rating: Speculative; Dividend yield: 0.5%; www.crescentpointenergy.com) produces oil and gas in Western Canada, with a focus on its Bakken light oil development in southeastern Saskatchewan.
In the quarter ended June 30, 2020, Crescent’s average daily output fell 29.9%, to 120,842 barrels (90% oil, 10% gas) from 172,476....
In the quarter ended June 30, 2020, Crescent’s average daily output fell 29.9%, to 120,842 barrels (90% oil, 10% gas) from 172,476....
These two firms remain essential equipment suppliers to oil producers, so the onset of COVID-19 and the collapse of oil prices have hurt this year’s earnings. However, their strong balance sheets will help them cope with the crisis and maintain their current dividends.
FINNING INTERNATIONAL INC....
The direction of oil and gas prices depends on a lot of things, particularly economic growth rates around the world in the wake of COVID-19. Meanwhile, though, well-established companies in the industry have taken advantage of the setback to pick up properties and employees who might be harder to find in more-prosperous times.
Those top companies also have the balance sheet strength to get through low prices—and keep paying dividends....
Those top companies also have the balance sheet strength to get through low prices—and keep paying dividends....
Long-time readers know that we continually evaluate the stocks we recommend to see if they should remain in thePower Growth Investor newsletter. Here’s a look at two we now see as sells.
CAMECO CORP. $14.00, is a sell. The company (Toronto symbol CCO; TSINetwork Rating: Extra Risk) (www.cameco.com; Shares outstanding: 395.8 million; Market cap: $5.5 billion; Dividend yield: 0.6%) is the world’s biggest uranium producer.
Uranium prices—and Cameco’s share price—have moved up lately, despite the COVID-19 economic and stock market downturn....
COVID-19 has forced CIBC to increase its provisions for possible future loan losses. However, the bank remains well capitalized and should continue to cut costs as the virus speeds up its customers’ shift to online banking.
CANADIAN IMPERIAL BANK OF COMMERCE $98 is a buy. It’s (Toronto symbol CM; Conservative Growth and Income Portfolios, Finance sector; Shares outstanding: 445.1 million; Market cap: $43.6 billion; Price-to-sales ratio: 2.6; Dividend yield: 6.0%; TSINetwork Rating: Above Average; www.cibc.com) is the smallest of Canada’s Big Five banks by market cap.
CIBC is now working to reduce its reliance on Canada, which now accounts for about 90% of its revenue....
CANADIAN IMPERIAL BANK OF COMMERCE $98 is a buy. It’s (Toronto symbol CM; Conservative Growth and Income Portfolios, Finance sector; Shares outstanding: 445.1 million; Market cap: $43.6 billion; Price-to-sales ratio: 2.6; Dividend yield: 6.0%; TSINetwork Rating: Above Average; www.cibc.com) is the smallest of Canada’s Big Five banks by market cap.
CIBC is now working to reduce its reliance on Canada, which now accounts for about 90% of its revenue....
The COVID-19 pandemic has slowed the pace of new construction projects. But, the large backlog of orders for both of these leading engineering firms will help them rebound with the global economy. Still, for your new buying, we prefer Stantec given SNC’s new restructuring plan will weigh on its short-term earnings.
STANTEC INC....
STANTEC INC....
The price for Western Canadian crude oil jumped from an average $4.92 a barrel in April to $46.03 in June as Canada and other countries began to ease COVID-19 lockdowns.
Strengthening oil prices, combined with aggressive cost cuts, improve the prospects of these four oil producers....
Strengthening oil prices, combined with aggressive cost cuts, improve the prospects of these four oil producers....
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