Crescent Point Energy Corp. [CPG] Stock trading around $4.60 per share: What’s Next?

Crescent Point Energy Corp. [NYSE: CPG] traded at a low on 06/14/21, posting a -1.50 loss after which it closed the day’ session at $4.60. The company report on June 8, 2021 that Crescent Point Closes Agreement to Dispose of Remaining Non-Core Southeast Saskatchewan Conventional Assets.

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Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX: CPG) and (NYSE: CPG) has completed the disposition of its remaining non-core southeast Saskatchewan conventional assets (“Assets”), which were previously identified as disposition candidates, for cash proceeds of $93 million (“Transaction”). As a result of the Transaction, Crescent Point also reduced asset retirement obligations (“ARO”) by approximately $220 million, or nearly 25 percent of its ARO balance as at March 31, 2021. Proceeds from the disposition have been directed to the Company’s balance sheet.

Crescent Point considered the Assets to be non-core due to the significant associated ARO, operating expenses that were substantially higher than the corporate average and limited scalability. The Assets also generated minimal free cash flow, after incorporating development capital required to sustain production and reclamation activities, despite contributing annual net operating income of approximately $55 million based on current production of approximately 6,500 boe/d and US$60/bbl WTI.

The results of the trading session contributed to over 9530943 shares changing hands. Over the past one week, the price volatility of Crescent Point Energy Corp. stands at 3.84% while the volatility over the past one month is 3.78%.

The market cap for CPG stock reached $2.44 billion, with 530.37 million shares outstanding and 529.03 million shares in the current float. Compared to the average trading volume of 4.56M shares, CPG reached a trading volume of 9530943 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]?

RBC Capital Mkts have made an estimate for Crescent Point Energy Corp. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 10, 2021. The new note on the price target was released on February 23, 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 0.19, with the Price to Sales ratio for CPG stock in the period of the last 12 months amounting to 1.64. The Price to Book ratio for the last quarter was 0.86.

How has CPG stock performed recently?

Crescent Point Energy Corp. [CPG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.71. With this latest performance, CPG shares gained by 18.56% in over the last four-week period, additionally plugging by 90.08% over the last 6 months – not to mention a rise of 164.37% 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 59.29, with the RSI for the last a single of trading hit 59.24, and the three-weeks RSI is set at 58.44 for Crescent Point Energy Corp. [CPG]. The present Moving Average for the last 50 days of trading for this stock 4.11, while it was recorded at 4.62 for the last single week of trading, and 2.85 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 $893 million, or 37.55% of CPG stock, in the hands of institutional investors. The top three institutional holders of CPG stocks are: FRANKLIN RESOURCES INC with ownership of 39,509,583, which is approximately 21.925% of the company’s market cap and around 9.63% of the total institutional ownership; CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD., holding 16,702,209 shares of the stock with an approximate value of $76.83 million in CPG stocks shares; and VANGUARD GROUP INC, currently with $74.07 million in CPG stock with ownership of nearly 4.922% 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 May and at the time of the May reporting period, where 76 institutional holders increased their position in Crescent Point Energy Corp. [NYSE:CPG] by around 52,477,012 shares. Additionally, 51 investors decreased positions by around 22,745,300 shares, while 13 investors held positions by with 118,884,392 shares. The mentioned changes placed institutional holdings at 194,106,704 shares, according to the latest SEC report filing. CPG stock had 24 new institutional investments in for a total of 8,114,043 shares, while 20 institutional investors sold positions of 13,846,546 shares during the same period.

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