Crescent Point Energy Corp. [CPG] is 5.80% higher this YTD. Is it still time to buy?

Crescent Point Energy Corp. [NYSE: CPG] surged by $0.13 during the normal trading session on while it closed the day at $7.54. The company report on March 28, 2023 that Crescent Point Announces Strategic Montney Acquisition.

Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX: CPG) (NYSE: CPG) is pleased to announce that it has entered into an agreement (the “Agreement”) with Spartan Delta Corp. (“Spartan”) to acquire Spartan’s oil and liquids-rich Montney assets in Alberta for $1.7 billion in cash (the “Transaction” or “Acquisition”).

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“Over the past five years, we have fundamentally rebuilt and strengthened Crescent Point,” said Craig Bryksa, President and CEO of Crescent Point. “As a result of our efforts, and after closing this transaction, our asset base will include significant inventory depth in both the Kaybob Duvernay and the Montney, while also maintaining significant low-decline assets in Saskatchewan that provide additional excess cash flow. The Montney acquisition is immediately accretive to our per share metrics, enhances our return of capital to shareholders, and is aligned with our long-term strategy to focus on high quality, scalable resource plays that meet our defined asset criteria. These assets include over 20 years of drilling locations and increase our total corporate inventory of premium locations to 15 years. The acquired lands are also situated in the volatile oil fairway with similar resource characteristics to our adjacent Kaybob Duvernay play, where we have demonstrated significant operational excellence.”.

Crescent Point Energy Corp. stock has also gained 6.80% of its value over the past 7 days. However, CPG stock has inclined by 13.42% in the 3 months of the year. Over the past six months meanwhile, it has gained 2.01% and gained 5.80% year-on date.

The market cap for CPG stock reached $5.65 billion, with 555.10 million shares outstanding and 545.38 million shares in the current float. Compared to the average trading volume of 6.30M shares, CPG reached a trading volume of 4688452 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $10.15 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 0.29, with the Price to Sales ratio for CPG stock in the period of the last 12 months amounting to 1.42. The Price to Book ratio for the last quarter was 0.64, with the Price to Cash per share for the same quarter was set at 0.39. Price to Free Cash Flow for CPG in the course of the last twelve months was 2.97 with Quick ratio for the last quarter at 0.80.

CPG stock trade performance evaluation

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 6.80. With this latest performance, CPG shares gained by 9.28% in over the last four-week period, additionally plugging by 2.01% over the last 6 months – not to mention a rise of 10.96% 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 63.88, with the RSI for the last a single of trading hit 69.36, and the three-weeks RSI is set at 59.64 for Crescent Point Energy Corp. [CPG]. The present Moving Average for the last 50 days of trading for this stock 6.95, while it was recorded at 7.52 for the last single week of trading, and 7.18 for the last 200 days.

Crescent Point Energy Corp. [CPG]: An insightful look at the core fundamentals

Crescent Point Energy Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.80.

Earnings per share (EPS) analysis for Crescent Point Energy Corp. [CPG] stock

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 -5.00%.

Crescent Point Energy Corp. [CPG]: Insider Ownership positions

There are presently around $1,382 million, or 37.97% 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 0.41% of the total institutional ownership; VANGUARD GROUP INC, holding 17,582,655 shares of the stock with an approximate value of $130.29 million in CPG stocks shares; and ACADIAN ASSET MANAGEMENT LLC, currently with $113.84 million in CPG stock with ownership of nearly 22.221% of the company’s market capitalization.

95 institutional holders increased their position in Crescent Point Energy Corp. [NYSE:CPG] by around 28,741,144 shares. Additionally, 89 investors decreased positions by around 24,473,563 shares, while 19 investors held positions by with 133,228,241 shares. The mentioned changes placed institutional holdings at 186,442,948 shares, according to the latest SEC report filing. CPG stock had 35 new institutional investments in for a total of 5,154,983 shares, while 17 institutional investors sold positions of 2,049,623 shares during the same period.


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