Crescent Point Energy Corp. [CPG] Stock trading around $4.58 per share: What’s Next?

Crescent Point Energy Corp. [NYSE: CPG] stock went on an upward path that rose over 6.76% on Wednesday, amounting to a one-week price increase of more than 18.04%. The company report on March 5, 2021 that Crescent Point Receives Approval for Normal Course Issuer Bid.

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Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX: CPG) (NYSE: CPG) is pleased to announce the Toronto Stock Exchange (“TSX”) has accepted its notice to implement a normal course issuer bid (“NCIB”) to purchase, for cancellation, up to 26,462,509 common shares, or five percent of the Company’s public float, as at February 26, 2021. The NCIB is scheduled to commence on March 9, 2021 and is due to expire on March 8, 2022.

Purchases of Crescent Point’s common shares under the NCIB may be made through the facilities of the TSX, the New York Stock Exchange (the “NYSE”) and alternative trading systems by means of open market transactions or by such other means as may be permitted by the Canadian Securities Administrators (the “CSA”) and under applicable securities laws, including by private agreement pursuant to issuer bid exemption orders issued by applicable securities regulatory authorities. The price the Company will pay for any common shares will be the market price at the time of purchase or such other price as may be permitted by the CSA. Any private purchase made under an exemption order issued by a securities regulatory authority will generally be at a discount to the prevailing market price.

Over the last 12 months, CPG stock rose by 266.40%. The average equity rating for CPG stock is currently 3.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.43 billion, with 530.36 million shares outstanding and 529.23 million shares in the current float. Compared to the average trading volume of 4.54M shares, CPG stock reached a trading volume of 7690086 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Crescent Point Energy Corp. [CPG]:

Scotiabank have made an estimate for Crescent Point Energy Corp. shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on February 23, 2021. The new note on the price target was released on January 11, 2021, representing the official price target for Crescent Point Energy Corp. stock.

The Average True Range (ATR) for Crescent Point Energy Corp. is set at 0.24 The Price to Book ratio for the last quarter was 0.38.

CPG Stock Performance Analysis:

Crescent Point Energy Corp. [CPG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.04. With this latest performance, CPG shares gained by 41.80% in over the last four-week period, additionally plugging by 218.06% over the last 6 months – not to mention a rise of 266.40% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CPG stock in for the last two-week period is set at 76.45, with the RSI for the last a single of trading hit 79.20, and the three-weeks RSI is set at 74.48 for Crescent Point Energy Corp. [CPG]. The present Moving Average for the last 50 days of trading for this stock 3.22, while it was recorded at 4.30 for the last single week of trading, and 2.05 for the last 200 days.

Insight into Crescent Point Energy Corp. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Crescent Point Energy Corp. [CPG] shares currently have an operating margin of +0.15 and a Gross Margin at +5.82. Crescent Point Energy Corp.’s Net Margin is presently recorded at -169.35.

Return on Total Capital for CPG is now 0.03, given the latest momentum, and Return on Invested Capital for the company is -38.22. Return on Equity for this stock declined to -61.72, with Return on Assets sitting at -30.11. When it comes to the capital structure of this company, Crescent Point Energy Corp. [CPG] has a Total Debt to Total Equity ratio set at 85.59. Additionally, CPG Total Debt to Total Capital is recorded at 46.12, with Total Debt to Total Assets ending up at 36.35. Long-Term Debt to Equity for the company is recorded at 76.81, with the Long-Term Debt to Total Capital now at 41.38.

Reflecting on the efficiency of the workforce at the company, Crescent Point Energy Corp. [CPG] managed to generate an average of -$3,428,435 per employee. Receivables Turnover for the company is 6.00 with a Total Asset Turnover recorded at a value of 0.18.

CPG Stock EPS

With the latest financial reports released by the company, Crescent Point Energy Corp. posted 0.17/share EPS, while the average EPS was predicted by analysts to be reported at -0.07/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 342.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CPG.

Crescent Point Energy Corp. [CPG] Insider Position Details

There are presently around $759 million, or 35.74% of CPG stock, in the hands of institutional investors. The top three institutional holders of CPG stocks are: FRANKLIN RESOURCES INC with ownership of 32,404,870, which is approximately 14.454% of the company’s market cap and around 0.07% of the total institutional ownership; BANK OF MONTREAL /CAN/, holding 16,332,095 shares of the stock with an approximate value of $74.8 million in CPG stocks shares; and VANGUARD GROUP INC, currently with $70.29 million in CPG stock with ownership of nearly -1.061% of the company’s market capitalization.

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Positions in Crescent Point Energy Corp. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 63 institutional holders increased their position in Crescent Point Energy Corp. [NYSE:CPG] by around 33,568,643 shares. Additionally, 40 investors decreased positions by around 19,956,589 shares, while 19 investors held positions by with 112,292,703 shares. The mentioned changes placed institutional holdings at 165,817,935 shares, according to the latest SEC report filing. CPG stock had 21 new institutional investments in for a total of 6,400,452 shares, while 6 institutional investors sold positions of 9,159,755 shares during the same period.

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