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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (58400)	7/19/2019 9:01:09 PM
From: Goose94	Read Replies (1) of 202373

Crescent Point Energy (CPG-T) (revisited) top pick from Eric Nuttall on BNN.ca Market Call Friday July 19th @ 1200ET Crescent Point’s new management team gets the current reality of the energy investment landscape and is aggressively targeting asset sales (infrastructure and non-core production) in order to pay down debt (less than two times debt to cash flow) to allow for a meaningful share buyback program (in addition to 5.6 million shares year-to-date). With its extremely distressed valuation (70 per cent of its proved developed producing reserve value, essentially its liquidation value; 27 per cent free cash flow yield, 3.3 times EV/CF), if the company were to use 30 per cent of proceeds from any asset sales it could retire 8 per cent of its shares outstanding. Once debt to cash flow falls below two times, we believe the company will be extremely aggressive at dedicating every single dollar of free cash flow towards share buybacks.

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