It is Poised to be a Bull Market for Crescent Point Energy Corp. (CPG)

Crescent Point Energy Corp. (NYSE: CPG) stock fell -1.75% on Wednesday to $6.74 against a previous-day closing price of $6.86. With 2.87 million shares changed hands, the volume of the stock remained lighter than its average volume of 5.15 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $6.93 whereas the lowest price it dropped to was $6.70. The 52-week range on CPG shows that it touched its highest point at $10.89 and its lowest point at $5.47 during that stretch. It currently has a 1-year price target of $10.69. With its current market cap of 4.91 billion, CPG has annualized dividend of $0.40 while the current yield stands at 5.93%. Beta for the stock currently stands at 2.89.

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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 up-trending over the past week, with a rise of 1.05%, but this was down by -7.42% over a month. Three-month performance dropped to -2.42% while six-month performance fell -13.41%. The stock lost -12.91% in the past year, while it has lost -5.42% so far this year. A look at the trailing 12-month EPS for CPG yields 0.89 with Next year EPS estimates of 1.88. For the next quarter, that number is 0.41. This implies an EPS growth rate of -36.80% for this year and 9.33% for next year. EPS is expected to decline by -5.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 144.70%.

Float and Shares Shorts:

At present, 548.88 million CPG shares are outstanding with a float of 538.18 million shares on hand for trading. On Apr 27, 2023, short shares totaled 7.26 million, which was 1.33% higher than short shares on Mar 30, 2023. 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.

Institutional Ownership:

Through their ownership of 38.96% of CPG’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 27.88% of CPG, in contrast to 11.46% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in CPG with 5.37% of the stake, Franklin Mutual Advisers LLC holds 29,417,434 shares worth 29,417,434. A second-largest stockholder of CPG, The Vanguard Group, Inc., holds 12,765,823 shares, controlling over 2.33% of the firm’s shares. CIBC Asset Management, Inc. is the third largest shareholder in CPG, holding 12,757,924 shares or 2.33% stake. With a 3.73% stake in CPG, the Franklin Small Cap Value Fund is the largest stakeholder. A total of 20,463,392 shares are owned by the mutual fund manager. The Ninepoint Energy Fund, which owns about 3.29% of CPG stock, is the second-largest Mutual Fund holder. It holds 18,000,000 shares valued at 133.2 million. DFA International Small Cap Value holds 1.88% of the stake in CPG, owning 10,307,460 shares worth 76.28 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, CPG reported revenue of $1.13B and operating income of $626.50M. The EBITDA in the recently reported quarter was $876.10M and diluted EPS was $0.58.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CPG since 0 analysts follow the stock currently. 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 $13.30 and a low target of $8.83, the average target price over the next 12 months is $10.54. Based on these targets, CPG could surge 97.33% to reach the target high and rise by 31.01% to reach the target low. Reaching the average price target will result in a growth of 56.38% 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.

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