+ Watch CPG
on My Watchlist
Oil with excellent dividend
Still has an upside.
Yeah, I know, I know. I saw it was absurdly low and had to jump on it, though. I'm taking bets on how high they will let this go before they're forced to revert it.
Crescent Point Energy is a significant Canadian operator and producer of the Bakken oil play in Saskatchewan Canada. It produces approximately 31,000 bopd and 29 mmcf/day with roughly Cdn.$500,000,000 of annualized operational funds flow. If oil and gas prices fall or drop below present levels, the company can scale back capital expenditures without adversely affecting the large amounts of cash flow. The company distributes a portion of its unrestricted funds each month for an annual distribution of approximately Cdn.$2.75 per share.My entry point was a ridiculously low $1.79/sh, which likely happened only because the U.S. market for this Canadian security is relatively illiquid and presumably the sell order that triggered the low price most likely missed a decimal point. Even if it isn't available at the abnormally low price, this company should still be worth acquiring and holding as an oil and gas play.
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