pengrowth
PENGROWTH ENERGY $3.26 (Toronto symbol PGF; Shares outstanding: 534.6 million; Market cap: $1.8 billion; TSINetwork Rating: Average; Dividend: 7.4%; www.pengrowth.com) has started up its Lindbergh oil sands project in Alberta, which should produce 16,000 barrels a day by the end of 2015. Excluding Lindbergh, Pengrowth produced 69,334 barrels of oil equivalent a day in the first quarter of 2015.
As well, for the remainder of 2015, the company has hedged 78% of its oil production at $93.87 (Canadian) a barrel, well above today’s price of $60.16 U.S. It has also hedged 57% of its gas output at $3.72 (Canadian) per thousand cubic feet, compared to the current price of $2.94 U.S. The company’s hedges were worth $354.3 million as of March 31, 2015.
Pengrowth is still a buy.
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As well, for the remainder of 2015, the company has hedged 78% of its oil production at $93.87 (Canadian) a barrel, well above today’s price of $60.16 U.S. It has also hedged 57% of its gas output at $3.72 (Canadian) per thousand cubic feet, compared to the current price of $2.94 U.S. The company’s hedges were worth $354.3 million as of March 31, 2015.
Pengrowth is still a buy.
...
TRANSCONTINENTAL INC., $16.06, Toronto symbol TCL.A, fell 12% this week after reporting lower-than-expected earnings. In its 2015 second quarter, which ended April 30, 2015, the company’s earnings rose 13.7%, to $39.1 million, or $0.50 a share. That fell short of the consensus estimate of $0.54. A year earlier, Transcontinental earned $34.4 million, or $0.44 a share. The gain largely came from two recent acquisitions: in May 2014, the company bought U.S.-based Capri Packaging, a maker of plastic bags and pouches for cheese and other dairy products, for $146.5 million. And in June 2014, it paid Sun Media $78.8 million for 74 weekly newspapers in Quebec....
PENGROWTH ENERGY $3.26 (Toronto symbol PGF; Shares outstanding: 534.6 million; Market cap: $1.8 billion; TSINetwork Rating: Average; Dividend: 7.4%; www.pengrowth.com) has started up its Lindbergh oil sands project in Alberta, which should produce 16,000 barrels a day by the end of 2015. Excluding Lindbergh, Pengrowth produced 69,334 barrels of oil equivalent a day in the first quarter of 2015. As well, for the remainder of 2015, the company has hedged 78% of its oil production at $93.87 (Canadian) a barrel, well above today’s price of $60.16 U.S. It has also hedged 57% of its gas output at $3.72 (Canadian) per thousand cubic feet, compared to the current price of $2.94 U.S. The company’s hedges were worth $354.3 million as of March 31, 2015. Pengrowth is still a buy.
PENGROWTH ENERGY CORP. $3.74 (Toronto symbol PGF; Aggressive Growth and Income Portfolios, Resources sector; Shares outstanding: 538.0 million; Market cap: $2.0 billion; Price-to-sales ratio: 1.7; Dividend yield: 6.4%; TSINetwork Rating: Average; www.pengrowth.com) recently started up its Lindbergh oil sands project in eastern Alberta, which should produce 16,000 barrels a day by the end of 2015.
The company has shut down less profitable wells in response to weak oil and gas prices. That’s why its average production fell 7.7% in the first quarter of 2015, to 69,334 barrels a day (52% oil and liquids, 48% gas) from 75,102 a year earlier. Without unusual items, Pengrowth earned $64.8 million, compared to a loss of $2.8 million. Cash flow per share fell 22.2%, to $0.21 from $0.27.
For the remainder of 2015, the company has hedged 78% of its oil production at $93.87 (Canadian) a barrel, well above today’s price of $60.16 U.S. It has also hedged 57% of its gas output at $3.72 (Canadian) per thousand cubic feet, compared to the current price of $2.94 U.S. The company’s hedges were worth $354.3 million as of March 31, 2015.
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The company has shut down less profitable wells in response to weak oil and gas prices. That’s why its average production fell 7.7% in the first quarter of 2015, to 69,334 barrels a day (52% oil and liquids, 48% gas) from 75,102 a year earlier. Without unusual items, Pengrowth earned $64.8 million, compared to a loss of $2.8 million. Cash flow per share fell 22.2%, to $0.21 from $0.27.
For the remainder of 2015, the company has hedged 78% of its oil production at $93.87 (Canadian) a barrel, well above today’s price of $60.16 U.S. It has also hedged 57% of its gas output at $3.72 (Canadian) per thousand cubic feet, compared to the current price of $2.94 U.S. The company’s hedges were worth $354.3 million as of March 31, 2015.
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PENGROWTH ENERGY $4.09 (Toronto symbol PGF; Shares outstanding: 534.6 million; Market cap: $2.1 billion; TSINetwork Rating: Average; Dividend yield: 5.9%; www.pengrowth.com) produces oil and natural gas, mostly in Western Canada. It recently started up its Lindbergh oil sands project in eastern Alberta, which should produce 16,000 barrels a day by the end of 2015.
In the three months ended December 31, 2014, Pengrowth’s cash flow rose 10.0%, to $0.22 a share from $0.20. The company sharply cut its operating costs, offsetting a 7.2% production decline, to 71,802 barrels of oil equivalent a day from 77,371.
The company will spend $200 million on exploration and development in 2015, down 74.0% from $770 million last year. Even so, it expects to produce 73,000 to 75,000 barrels a day in 2015, up about 1.5% from 2014.
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In the three months ended December 31, 2014, Pengrowth’s cash flow rose 10.0%, to $0.22 a share from $0.20. The company sharply cut its operating costs, offsetting a 7.2% production decline, to 71,802 barrels of oil equivalent a day from 77,371.
The company will spend $200 million on exploration and development in 2015, down 74.0% from $770 million last year. Even so, it expects to produce 73,000 to 75,000 barrels a day in 2015, up about 1.5% from 2014.
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PENGROWTH ENERGY CORP. $3.74 (Toronto symbol PGF; Aggressive Growth and Income Portfolios, Resources sector; Shares outstanding: 538.0 million; Market cap: $2.0 billion; Price-to-sales ratio: 1.7; Dividend yield: 6.4%; TSINetwork Rating: Average; www.pengrowth.com) recently started up its Lindbergh oil sands project in eastern Alberta, which should produce 16,000 barrels a day by the end of 2015. The company has shut down less profitable wells in response to weak oil and gas prices. That’s why its average production fell 7.7% in the first quarter of 2015, to 69,334 barrels a day (52% oil and liquids, 48% gas) from 75,102 a year earlier. Without unusual items, Pengrowth earned $64.8 million, compared to a loss of $2.8 million. Cash flow per share fell 22.2%, to $0.21 from $0.27. For the remainder of 2015, the company has hedged 78% of its oil production at $93.87 (Canadian) a barrel, well above today’s price of $60.16 U.S. It has also hedged 57% of its gas output at $3.72 (Canadian) per thousand cubic feet, compared to the current price of $2.94 U.S. The company’s hedges were worth $354.3 million as of March 31, 2015....
BONAVISTA ENERGY $8.02 (Toronto symbol BNP; Shares outstanding: 203.8 million; Market cap: $1.7 billion; TSINetwork Rating: Extra Risk; Dividend yield: 5.2%; www.bonavistaenergy.com) explores for oil and natural gas in Alberta, Saskatchewan and British Columbia. Its production is 70% gas and 30% oil. In the three months ended December 31, 2014, Bonavista’s cash flow per share rose 1.6%, to $0.63 from $0.62 a year earlier. The company’s output gained 14.3%, to 85,810 barrels of oil equivalent a day from 75,072. However, lower oil prices mostly offset the production increase and higher realized gas prices....
POWER CORP. $33.52 (Toronto symbol POW; Shares outstanding: 412.6 million; Market cap: $15.5 billion; TSINetwork Rating: Above Average; Div. yield: 3.5%; www.powercorporation.com) is a diversified holding company. It holds its financial assets through 65.7%-owned Power Financial. These financial assets include 68.1% of Great- West Lifeco, one of Canada’s largest life insurers, and 58.7% of IGM Financial, a leading Canadian mutual fund provider. As well, Power Financial owns 50% of holding company Parjointco, which holds a 55.5% stake in Switzerland-listed Pargesa Holdings SA. Pargesa has 95% of its assets in five large European firms: Imerys (minerals), Total SA (oil), Pernod Ricard (wine and spirits), SGS (inspection, testing and certification services) and Lafarge (cement and building materials). Power Corp. also has investments in Asia....
SCITI Trust, $9.13, symbol SIN.UN on Toronto (Units outstanding: 30.3 million; Market cap: $276.6 million; www.scotiamanagedcompanies.com), first issued units at $10 and began trading on Toronto in April 2003. The trust was scheduled to wind up on April 29, 2008, but unitholders voted to keep it going for another five years in March 2008 and again in March 2013. It’s now scheduled to wind up on April 30, 2018, though it could be extended again. The trust’s portfolio is based on the Scotia Capital High-Yielding Equity Index, which tracks the highest-yielding stocks (including many real estate investment trusts and former income trusts) on the Toronto exchange. SCITI Trust now holds the top 50 highest-yielding issues in the index, on a roughly equal-weight basis....
LOBLAW COMPANIES LTD., $61.78, Toronto symbol L, operates around 1,140 supermarkets across Canada, mainly under the Loblaw, Provigo, Real Canadian Superstore and No Frills banners. In March 2014, it purchased Shoppers Drug Mart, which operates 1,300 drugstores. This week, the company announced that it would build 50 new stores and renovate 100 others in 2015. In addition, it continues to expand its e-commerce operations. In all, Loblaw expects to spend $1.2 billion on these projects. That’s equal to the $1.2 billion, or $3.22 a share, it earned in 2014, excluding costs to integrate Shoppers....