A History of Outperforming Analyst Forecasts and Beating the Odds: Crescent Point Energy Corp. (CPG)

Crescent Point Energy Corp. (NYSE: CPG) stock jumped 1.30% on Thursday to $8.54 against a previous-day closing price of $8.43. With 2.15 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.16 million shares. The 52-week range on CPG shows that it touched its highest point at $8.59 and its lowest point at $5.46 during that stretch. It currently has a 1-year price target of $10.76. With its current market cap of 6.22 billion, CPG has annualized dividend of $0.40 while the current yield stands at 4.68%. Beta for the stock currently stands at 2.28.

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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 3.02%, but this was up by 3.89% over a month. Three-month performance surged to 29.03% while six-month performance rose 46.70%. The stock gained 20.78% in the past year, while it has gained 20.22% so far this year. A look at the trailing 12-month EPS for CPG yields 0.71 with Next year EPS estimates of 1.57. For the next quarter, that number is 0.44. This implies an EPS growth rate of -36.80% for this year and -3.87% for next year.

Float and Shares Shorts:

At present, 542.95 million CPG shares are outstanding with a float of 533.66 million shares on hand for trading. On Aug 14, 2023, short shares totaled 11.99 million, which was 2.24% higher than short shares on Jul 13, 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 41.57% of CPG’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 22.10% of CPG, in contrast to 14.42% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in CPG with 4.09% of the stake, Franklin Mutual Advisers LLC holds 21,905,632 shares worth 21,905,632. A second-largest stockholder of CPG, The Vanguard Group, Inc., holds 12,865,236 shares, controlling over 2.40% of the firm’s shares. CIBC Asset Management, Inc. is the third largest shareholder in CPG, holding 11,378,920 shares or 2.12% stake. With a 2.86% stake in CPG, the Franklin Small Cap Value Fund is the largest stakeholder. A total of 15,342,485 shares are owned by the mutual fund manager. The DFA International Small Cap Value, which owns about 2.01% of CPG stock, is the second-largest Mutual Fund holder. It holds 10,783,157 shares valued at 87.45 million. Vanguard Total International Stoc holds 1.26% of the stake in CPG, owning 6,741,740 shares worth 54.68 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 Jun 29, 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 $12.00 and a low target of $9.53, the average target price over the next 12 months is $10.46. Based on these targets, CPG could surge 40.52% to reach the target high and rise by 11.59% to reach the target low. Reaching the average price target will result in a growth of 22.48% 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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