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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (67824)	10/11/2019 6:05:17 PM
From: Goose94	Read Replies (1) of 202172

Crew Energy (CR-T) revisited top pick from Josef Schachter on BNN.ca Market Call Thirst-day Oct 10th @ 1200ET Crew trades very cheaply as the market worries about its debt level and low natural gas prices for the strip and AECO spot. Second-quarter production was 22,865 boe/d (31 per cent liquids, up from 28 per cent the prior year) and they showed cash flow of $23 million. They’re focusing on spending less than cash flow and using excess funds to pay down their debt level, which was $343 million on June 30. Equity at the end of the second quarter was $919 million. Cash flow per share in 2019 should be 67 cents ($106 million) and 77 cents ($120 million) in 2020 based on our forecast of 24,500 boe/d. We’re fans of management and the CEO owns 4.7 million shares. Our one-year target is $1.80, so there is lots of upside ahead. Crew is one of the companies we like for the potential of LNG on the west coast. They are very close to the route of the new Coastal Gas line. Longer term, Crew could be a takeover candidate as the LNG operators tie down reserves to meet their long-term contracts. The stock traded at over $21 per share as recently as 2011.

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