GBA Presents: House of Gummy-!

stonedinvestor said:
I saw the Cramer if you listen carefully he put a little shade on the idea something like in a few years.. or after some more downside.. / There's still some dislocation in the banking sector. I haven't charted it but I would wait til the next earn report when you can dig in and figure out where the money is going within that company.
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It gets even better, I didn't catch this, a buddy of mine did.
Same show, someone asked about Pioneer Energy... know what he said?
I kid you not... Coterra. :wtf:
 
stonedinvestor said:
What you and Cramer saying the same thing? :D

Wait for $48<---- That's where you can pick some up.
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Isn't that where it was the day I wrote that post? Or was it $47
~the chart king :p

CTRA is a natty play, not oil.
It too is a long term hold.
I'm not gonna re-write what I already wrote explaining the LNG angle.

Your SOFI will still be below $8 when this thing has doubled.
 
CTRA is 10% oil. Proven reserves are down around 17%/ Dividend could be higher .

Little NOG pays a higher Div-

    • Oil production averaged 90.7 MBbls/d (thousand barrels per day), above the high-end of guidance.
    • Natural gas production averaged 2,780 Mmcf/d (million cubic feet per day), above the high-end of guidance.
Including the effect of commodity derivatives, average realized prices for oil and natural gas for fourth-quarter 2022 were $81.57 per Bbl and $4.74 per Mcf, respectively.

2023 Outlook

"Guided by principles focused on full-cycle value creation and disciplined capital allocation, Coterra expects to invest approximately 50 percent of its cash flow, at recent strip prices", commented Jorden. "This is expected to result in a 2023 production profile that will be relatively flat year-over-year before returning to modest growth in 2024 and 2025. Coterra's dynamic organization, top-tier assets and industry-leading balance sheet are poised to generate long-term consistent profitable growth."

Flat growth and then modest.

Meh.
 
Here are some highlights) Crescent Point>



CALGARY, AB, March 2, 2023 /CNW/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) (NYSE: CPG) is pleased to announce its operating and financial results for the year ended December 31, 2022.

KEY HIGHLIGHTS

  • Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base.
  • Reduced net debt by approximately $850 million, or over 40 percent.
  • Returned nearly $500 million to shareholders through dividends and share repurchases totaling over five percent of the float.
  • Increased drilling inventory in the Kaybob Duvernay to over 20 years while optimizing portfolio through non-core dispositions.
  • Increased NAV per share by 30 to 35 percent across all categories and replaced 113 percent of 2022 production on a 2P basis.
  • Generated strong FD&A recycle ratios, including change in FDC, of 3.4 and 2.3 times based on PDP and 2P reserves.
  • Achieved best safety scores in company history and remain on track to meet or exceed land, emissions and water targets.
  • Expect to generate significant excess cash flow of approximately $1.0 billion in 2023 at US$75/bbl WTI.
"Our success in 2022 demonstrates our ability to execute our long-term strategy of capital discipline, balance sheet strength, sustainability and returning capital to our shareholders," said Craig Bryksa, President and CEO of Crescent Point. "Since beginning this transformation five years ago, we have delivered consistent and compounding benefits for our shareholders. Our multi-basin portfolio generates significant excess cash flow driven by industry leading netbacks, which we have further enhanced through the addition of our Kaybob Duvernay asset. This, combined with our superior technical, operational and safety performance, positions us to deliver substantial returns to shareholders now and well into the future."

FINANCIAL HIGHLIGHTS

  • Adjusted funds flow totaled over $2.2 billion for the year ended December 31, 2022, or $3.91 per share diluted, driven by a strong operating netback of $62.94 per boe. In fourth quarter, adjusted funds flow totaled $522.8 million, or $0.93 per share diluted.
  • For the year ended December 31, 2022, development capital expenditures, which included drilling and development, facilities and seismic costs, totaled $956.1 million, in-line with the Company's annual guidance of $950 million.
  • Net debt as at December 31, 2022 was less than $1.2 billion, reflecting a reduction of $850.3 million, or over 40 percent since the beginning of 2022. On January 11, 2023, Crescent Point closed its acquisition of additional Kaybob Duvernay assets, which included a net cash payment of approximately $370 million. As of the acquisition close, Crescent Point's net debt was approximately $1.5 billion.
  • For the year ended December 31, 2022, Crescent Point reported net income of approximately $1.5 billion. The Company's 2022 net income includes the positive contribution of a $0.4 billion ($0.3 billion after-tax) non-cash impairment reversal due to higher commodity prices, net of increased cost assumptions due to inflation.
  • As part of its risk management program, Crescent Point has hedged approximately 15 percent of its total production in 2023, net of royalty interest, including over 20 percent in the first half of the year.
RETURN OF CAPITAL HIGHLIGHTS

  • In July 2022, the Company updated its return of capital framework to target the return of up to 50 percent of its discretionary excess cash flow, in addition to its base dividend, through a combination of share repurchases and special dividends.
  • The Company's total return of capital to its shareholders in 2022 was $483.3 million comprised of base dividends, share repurchases and special dividends. This included $287.8 million in the second half of the year under its updated framework, or approximately 60 percent of its excess cash flow.
  • During fourth quarter, Crescent Point repurchased 8.6 million shares for $86.6 million, bringing total repurchases to 31.3 million shares for $294.2 million in 2022, representing over five percent of its public float. The Company remains active on its normal course issuer bid ("NCIB") and has repurchased 3.2 million shares for $30.0 million to-date in 2023. Crescent Point has filed notice with the Toronto Stock Exchange ("TSX") of the intention to renew its NCIB, which is due to expire on March 8, 2023.
  • The Company's Board of Directors ("Board") has declared a special cash dividend, based on fourth quarter 2022 results, of $0.032 per share payable on March 17, 2023, to shareholders of record as of the close of business on March 10, 2023.
  • As previously announced, Crescent Point's Board approved and declared a first quarter 2023 dividend of $0.10 per share, payable on April 3, 2023 to shareholders of record on March 15, 2023. This equates to an annualized dividend of $0.40 per share, an increase of 25 percent from the prior level or 122 percent since the beginning of 2022.
 
stonedinvestor said:
CTRA is 10% oil. Proven reserves are down around 17%/ Dividend could be higher .

Little NOG pays a higher Div-

    • Oil production averaged 90.7 MBbls/d (thousand barrels per day), above the high-end of guidance.
    • Natural gas production averaged 2,780 Mmcf/d (million cubic feet per day), above the high-end of guidance.
Including the effect of commodity derivatives, average realized prices for oil and natural gas for fourth-quarter 2022 were $81.57 per Bbl and $4.74 per Mcf, respectively.

2023 Outlook

"Guided by principles focused on full-cycle value creation and disciplined capital allocation, Coterra expects to invest approximately 50 percent of its cash flow, at recent strip prices", commented Jorden. "This is expected to result in a 2023 production profile that will be relatively flat year-over-year before returning to modest growth in 2024 and 2025. Coterra's dynamic organization, top-tier assets and industry-leading balance sheet are poised to generate long-term consistent profitable growth."

Flat growth and then modest.

Meh.
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A good honest ceo too then. That's even better.
As opposed to to SOFI which loses money, burns cash, and has tons and tons of debt?
Which one do you want in an IRA?
A 3% dividend stock that also has a buyback in place and the second lowest price producer of natural gas in the country.... or a meme stock that you hope Wsb's might rally behind and get to $7?
 
CTRA has reserves DOWN 17%

Crescent Point Announces Reserves UP 17%
(and that's before the big new purchase!)-> Bada Bing! :cool:

Wait for earn and go with CPG- 4.45% Div :cool:
 
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