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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (51958)	10/11/2019 8:10:31 PM
From: Goose94	Read Replies (1) of 202323

TORC Oil & Gas (TOG-T) top pick from Eric Nuttall on BNN.ca Market Call Friday Oct 11th @ 1200ET Torc is run by a very competent management team that has earned the reputation of under-promising and over-delivering. With a rock solid balance sheet (1.1 times debt to cash flow) and the support of CPP (29-per-cent ownership position), Torc offers lower risk exposure to a rising oil price. With a dividend yield of 8.4 per cent that is sustainable down to $50 WTI, the stock trades at 3.6 times EV/CF ($55 WTI) and at only 99 per cent of its liquidation value (PDP reserves). Given the distressed valuation, we look for Torc to announce a “stay-flat” 2020 budget that maximizes free cash flow to allow for a 5 to 10 per cent share buyback program while allowing for a modest dividend increase.

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