Crescent Point Energy Corp. [NYSE: CPG] jumped around 0.24 points on Wednesday, while shares priced at $4.05 at the close of the session, up 6.30%. The company report on April 1, 2021 that Crescent Point Closes Accretive Acquisition of Kaybob Duvernay Assets.
Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX: CPG) (NYSE: CPG) is pleased to announce that it has successfully closed its accretive transaction previously announced on February 17, 2021. The Company has acquired Shell Canada Energy’s Kaybob Duvernay assets in Alberta (the “Assets”) for $900 million (the “Acquisition”).
This strategic Acquisition enhances Crescent Point’s core principles of balance sheet strength and sustainability. In particular, these Assets, which are situated in the heart of the condensate rich fairway, are expected to enhance the Company’s free cash flow profile, inventory depth and include key infrastructure that is expected to lower future capital requirements.
Crescent Point Energy Corp. stock is now 73.08% up from its year-to-date (YTD) trading value. CPG Stock saw the intraday high of $4.125 and lowest of $3.85 per share. The company’s 52-week high price is 4.66, which means current price is +75.24% above from all time high which was touched on 03/12/21.
Compared to the average trading volume of 5.57M shares, CPG reached a trading volume of 4384694 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 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 0.22, with the Price to Sales ratio for CPG stock in the period of the last 12 months amounting to 1.44. The Price to Book ratio for the last quarter was 0.76.
How has CPG stock performed recently?
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 2.02. With this latest performance, CPG shares dropped by -10.60% in over the last four-week period, additionally plugging by 200.00% over the last 6 months – not to mention a rise of 305.00% 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 51.13, with the RSI for the last a single of trading hit 50.82, and the three-weeks RSI is set at 52.75 for Crescent Point Energy Corp. [CPG]. The present Moving Average for the last 50 days of trading for this stock 3.89, while it was recorded at 3.93 for the last single week of trading, and 2.34 for the last 200 days.
Crescent Point Energy Corp. [CPG]: Deeper insight into the 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.
Earnings analysis for Crescent Point Energy Corp. [CPG]
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.
Insider trade positions for Crescent Point Energy Corp. [CPG]
There are presently around $672 million, or 37.06% 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 $66.14 million in CPG stocks shares; and VANGUARD GROUP INC, currently with $62.15 million in CPG stock with ownership of nearly -1.061% of the company’s market capitalization.
Positions in Crescent Point Energy Corp. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 63 institutional holders increased their position in Crescent Point Energy Corp. [NYSE:CPG] by around 33,568,111 shares. Additionally, 41 investors decreased positions by around 19,964,074 shares, while 19 investors held positions by with 112,276,798 shares. The mentioned changes placed institutional holdings at 165,808,983 shares, according to the latest SEC report filing. CPG stock had 21 new institutional investments in for a total of 6,399,920 shares, while 6 institutional investors sold positions of 9,159,755 shares during the same period.