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CPG - Torc Oil & Gas: An Interesting Investment Case And It's Not The 9%+ Dividend Yield
Crescent Point Energy Corporation
Thanks to its strong free cash flow during Q2, Torc Oil & Gas (VREYF) reduced its net debt. Due to its low leverage, the company has many possibilities to allocate its excess free cash flow.
In contrast with many other Canadian producers, the company is looking to acquire oil assets. This strategy is relevant in the context of lower valuations in the Canadian oil and gas industry compared to last year.
But the market values Torc Oil & Gas at a small premium to its close competitors due to its solid balance sheet.