Crescent Point Energy Corp [NYSE: CPG] stock went on a downward path that fall over -1.65% on Wednesday, amounting to a one-week price decrease of less than -6.54%. The company report on December 21, 2023 at 9:05 AM that Crescent Point Completes Strategic Alberta Montney Consolidation and Provides Improved 2024 and Five-Year Outlook.
Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX: CPG) (NYSE: CPG) is pleased to announce that it has successfully completed its previously announced strategic acquisition of Hammerhead Energy Inc. (“Hammerhead”), an oil and liquids-rich Alberta Montney producer (the “Transaction”). The Company is also pleased to provide its formal 2024 guidance and five-year plan, which are significantly enhanced as a result of the Transaction.
“Our recent Alberta Montney consolidation marks the completion of our portfolio transformation,” said Craig Bryksa, President and CEO of Crescent Point. “Through this strategic transaction, we have enhanced the long-term sustainability of our business, including increasing the excess cash flow per share expected within our five-year plan by approximately 20 percent. This accretion also enhances our return of capital profile for shareholders. As we approach 2024, we are excited to build on the momentum and strong results we have achieved to-date within our resource plays, including through potential synergies from our recent Montney transaction. Our strategic priorities will now focus on continued operational execution, balance sheet strength and increasing our return of capital to shareholders.”.
Over the last 12 months, CPG stock dropped by -3.68%. The one-year Crescent Point Energy Corp stock forecast points to a potential upside of 38.25. The average equity rating for CPG stock is currently 1.27, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $4.12 billion, with 626.55 million shares outstanding and 586.88 million shares in the current float. Compared to the average trading volume of 4.36M shares, CPG stock reached a trading volume of 3870814 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]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CPG shares is $10.64 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 1.27. 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.
Canaccord Genuity have made an estimate for Crescent Point Energy Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 21, 2023.
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 1.60. The Price to Book ratio for the last quarter was 0.82, with the Price to Cash per share for the same quarter was set at 0.05. Price to Free Cash Flow for CPG in the course of the last twelve months was 5.85 with Quick ratio for the last quarter at 1.29.
CPG Stock Performance Analysis:
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 -6.54. With this latest performance, CPG shares dropped by -3.38% in over the last four-week period, additionally sinking by -9.03% over the last 6 months – not to mention a drop of -3.68% 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 38.63, with the RSI for the last a single of trading hit 33.87, and the three-weeks RSI is set at 40.50 for Crescent Point Energy Corp [CPG]. The present Moving Average for the last 50 days of trading for this stock 7.05, while it was recorded at 6.75 for the last single week of trading, and 7.40 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 +48.85 and a Gross Margin at +51.75. Crescent Point Energy Corp’s Net Margin is presently recorded at +37.15.
Return on Total Capital for CPG is now 25.05, given the latest momentum, and Return on Invested Capital for the company is 20.17. Return on Equity for this stock inclined to 24.93, with Return on Assets sitting at 15.90. 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 24.11. Additionally, CPG Total Debt to Total Capital is recorded at 19.43, with Total Debt to Total Assets ending up at 16.50. Long-Term Debt to Equity for the company is recorded at 15.43, with the Long-Term Debt to Total Capital now at 12.43.
Reflecting on the efficiency of the workforce at the company, Crescent Point Energy Corp [CPG] managed to generate an average of $1,931,510 per employee. Receivables Turnover for the company is 12.44 with a Total Asset Turnover recorded at a value of 0.43.Crescent Point Energy Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.29 and a Current Ratio set at 1.29.
CPG Stock EPS
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 -1.00%.
Crescent Point Energy Corp [CPG] Institutonal Ownership Details
The top three institutional holders of CPG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CPG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CPG stock with ownership which is approximately 5.8325%.