Scotiabank lifts Crescent Point Energy Corp. [CPG] price estimate. Who else is bullish?


Crescent Point Energy Corp. [NYSE: CPG] stock went on a downward path that fall over -2.66% on Friday, amounting to a one-week price increase of more than 4.36%. The company report on July 20, 2022 that Crescent Point Announces Q2 2022 Conference Call.

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Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX: CPG) and (NYSE: CPG) plans to report its second quarter 2022 financial and operating results via press release prior to the opening of markets on Wednesday, July 27, 2022. Crescent Point’s management will hold a conference call at 10:00 a.m. MT (12:00 p.m. ET) the same day to discuss the Company’s results and outlook.

Participants can listen to this event online via webcast. Alternatively, the conference call can be accessed by dialing 1‑888‑390‑0605.

Over the last 12 months, CPG stock rose by 105.33%. The average equity rating for CPG stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $5.10 billion, with 576.89 million shares outstanding and 570.53 million shares in the current float. Compared to the average trading volume of 13.93M shares, CPG stock reached a trading volume of 12073699 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 June 08, 2022. The new note on the price target was released on June 10, 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 0.55, with the Price to Sales ratio for CPG stock in the period of the last 12 months amounting to 1.56. The Price to Book ratio for the last quarter was 0.61, with the Price to Cash per share for the same quarter was set at 0.01. Price to Free Cash Flow for CPG in the course of the last twelve months was 4.96 with Quick ratio for the last quarter at 0.50.

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 4.36. With this latest performance, CPG shares dropped by -8.56% in over the last four-week period, additionally plugging by 8.78% over the last 6 months – not to mention a rise of 105.33% 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 44.82, with the RSI for the last a single of trading hit 45.20, and the three-weeks RSI is set at 45.37 for Crescent Point Energy Corp. [CPG]. The present Moving Average for the last 50 days of trading for this stock 7.93, while it was recorded at 7.18 for the last single week of trading, and 6.53 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 +40.44 and a Gross Margin at +44.26. Crescent Point Energy Corp.’s Net Margin is presently recorded at +83.55.

Return on Equity for this stock inclined to 57.46, with Return on Assets sitting at 29.89.

Crescent Point Energy Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.

Crescent Point Energy Corp. [CPG] Insider Position Details

There are presently around $1,448 million, or 41.03% of CPG stock, in the hands of institutional investors. The top three institutional holders of CPG stocks are: FRANKLIN RESOURCES INC with ownership of 30,856,390, which is approximately -0.45% of the company’s market cap and around 0.37% of the total institutional ownership; CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD., holding 18,232,339 shares of the stock with an approximate value of $126.53 million in CPG stocks shares; and VANGUARD GROUP INC, currently with $119.51 million in CPG stock with ownership of nearly 2.461% of the company’s market capitalization.

Positions in Crescent Point Energy Corp. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 96 institutional holders increased their position in Crescent Point Energy Corp. [NYSE:CPG] by around 31,704,749 shares. Additionally, 71 investors decreased positions by around 34,830,130 shares, while 17 investors held positions by with 142,134,226 shares. The mentioned changes placed institutional holdings at 208,669,105 shares, according to the latest SEC report filing. CPG stock had 43 new institutional investments in for a total of 11,922,914 shares, while 23 institutional investors sold positions of 5,623,040 shares during the same period.