Scotiabank slashes price target on Crescent Point Energy Corp. [CPG] – find out why.

Crescent Point Energy Corp. [NYSE: CPG] slipped around -0.17 points on Tuesday, while shares priced at $6.83 at the close of the session, down -2.43%. The company report on February 23, 2023 that Crescent Point Announces Q4 and Year-End 2022 Results Conference Call.

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Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX: CPG) (NYSE: CPG) plans to report its fourth quarter and year-end 2022 financial and operating results via press release prior to the opening of markets on Thursday, March 2, 2023. 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 via webcast. To join the call without operator assistance, participants may register online by entering their phone number to receive an instant automated call back. Alternatively, the conference call can be accessed with operator assistance by dialing 1–888–390–0605.

Crescent Point Energy Corp. stock is now -4.48% down from its year-to-date (YTD) trading value. CPG Stock saw the intraday high of $7.10 and lowest of $6.825 per share. The company’s 52-week high price is 10.92, which means current price is +6.89% above from all time high which was touched on 01/27/23.

Compared to the average trading volume of 5.92M shares, CPG reached a trading volume of 6478050 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]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CPG shares is $10.93 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CPG stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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 0.27, with the Price to Sales ratio for CPG stock in the period of the last 12 months amounting to 1.32. The Price to Book ratio for the last quarter was 0.53, with the Price to Cash per share for the same quarter was set at 0.30. Price to Free Cash Flow for CPG in the course of the last twelve months was 3.09 with Quick ratio for the last quarter at 0.60.

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 1.94. With this latest performance, CPG shares dropped by -8.69% in over the last four-week period, additionally sinking by -13.04% over the last 6 months – not to mention a drop of -0.83% 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 43.60, with the RSI for the last a single of trading hit 41.03, and the three-weeks RSI is set at 45.27 for Crescent Point Energy Corp. [CPG]. The present Moving Average for the last 50 days of trading for this stock 7.04, while it was recorded at 6.88 for the last single week of trading, and 7.43 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 +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 0.60 and a Current Ratio set at 0.60.

Earnings analysis for Crescent Point Energy Corp. [CPG]

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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Crescent Point Energy Corp. go to -4.00%.

Insider trade positions for Crescent Point Energy Corp. [CPG]

There are presently around $1,274 million, or 37.21% of CPG stock, in the hands of institutional investors. The top three institutional holders of CPG stocks are: FRANKLIN RESOURCES INC with ownership of 21,548,114, which is approximately -14.804% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 17,582,655 shares of the stock with an approximate value of $120.09 million in CPG stocks shares; and ACADIAN ASSET MANAGEMENT LLC, currently with $104.93 million in CPG stock with ownership of nearly 22.221% of the company’s market capitalization.

Positions in Crescent Point Energy Corp. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 96 institutional holders increased their position in Crescent Point Energy Corp. [NYSE:CPG] by around 28,896,044 shares. Additionally, 89 investors decreased positions by around 25,358,011 shares, while 18 investors held positions by with 132,219,933 shares. The mentioned changes placed institutional holdings at 186,473,988 shares, according to the latest SEC report filing. CPG stock had 35 new institutional investments in for a total of 5,309,433 shares, while 18 institutional investors sold positions of 3,049,623 shares during the same period.


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