Crescent Point Energy Corp. (NYSE: CPG) stock fell -1.86% on Wednesday to $7.90 against a previous-day closing price of $8.05. With 7.72 million shares changed hands, the volume of the stock remained lighter than its average volume of 12.66 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $7.95 whereas the lowest price it dropped to was $7.80. The 52-week range on CPG shows that it touched its highest point at $10.92 and its lowest point at $4.05 during that stretch. It currently has a 1-year price target of $12.31. With its current market cap of 5.94 billion, CPG has annualized dividend of $0.32 while the current yield stands at 4.05%. Beta for the stock currently stands at 3.06.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CPG was down-trending over the past week, with a drop of -4.59%, but this was up by 2.67% over a month. Three-month performance dropped to -0.43% while six-month performance fell -6.09%. The stock gained 63.42% in the past year, while it has gained 48.43% so far this year. A look at the trailing 12-month EPS for CPG yields 3.63 with Next year EPS estimates of 2.23. For the next quarter, that number is 0.43. This implies an EPS growth rate of 186.40% for this year and -41.60% for next year. EPS is expected to decline by -4.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 33.70%.
Float and Shares Shorts:
At present, 563.55 million CPG shares are outstanding with a float of 554.38 million shares on hand for trading. On Oct 13, 2022, short shares totaled 9.37 million, which was 1.65% higher than short shares on Sep 14, 2022. In addition to Mr. Craig Bryksa as the firm’s Pres, CEO & Non-Independent Director, Mr. Kenneth R. Lamont B.Com., BComm., C.A., CA serves as its Chief Financial Officer.
Through their ownership of 39.99% of CPG’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 8.36% of CPG, in contrast to 25.43% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in CPG with 4.41% of the stake, Franklin Mutual Advisers LLC holds 25,012,791 shares worth 25,012,791. A second-largest stockholder of CPG, The Vanguard Group, Inc., holds 12,923,484 shares, controlling over 2.28% of the firm’s shares. Acadian Asset Management LLC is the third largest shareholder in CPG, holding 12,570,324 shares or 2.22% stake. With a 3.17% stake in CPG, the Ninepoint Energy Fund is the largest stakeholder. A total of 18,000,000 shares are owned by the mutual fund manager. The Franklin Small Cap Value Fund, which owns about 3.07% of CPG stock, is the second-largest Mutual Fund holder. It holds 17,397,655 shares valued at 136.22 million. DFA International Small Cap Value holds 1.76% of the stake in CPG, owning 10,012,433 shares worth 78.4 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CPG since 14 analysts follow the stock currently. There are 11 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CPG analysts setting a high price target of $13.64 and a low target of $9.22, the average target price over the next 12 months is $11.25. Based on these targets, CPG could surge 72.66% to reach the target high and rise by 16.71% to reach the target low. Reaching the average price target will result in a growth of 42.41% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CPG will report FY 2022 earnings on 03/02/2023. Analysts have provided yearly estimates in a range of $3.00 being high and $2.83 being low. For CPG, this leads to a yearly average estimate of $2.91. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Crescent Point Energy Corp. surprised analysts by $0.25 when it reported $0.60 EPS against a consensus estimate of $0.35. The surprise factor in the prior quarter was $0.06. Based on analyst estimates, the high estimate for the next quarter is $0.36 and the low estimate is $0.28. The average estimate for the next quarter is thus $0.32.