Why You Need Crescent Point Energy Corp. (CPG) On Your Watchlist

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Crescent Point Energy Corp. (NYSE:CPG) saw an upside of 2.04% to close Monday at $7.49 after adding $0.15 on the day. The 5-day average trading volume is 4,233,600 shares of the company’s common stock. It has gained $7.52 in the past week and touched a new high 3 times within the past 5 days. An average of 4,892,475 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 6,388,134.

CPG’s 1-month performance is 11.79% or $0.42 on its low of $6.39 reached on 01/04/23. The company’s shares have touched a 52-week low of $5.49 and high of $10.92, with the stock’s rally to the 52-week high happening on 01/23/23. YTD, CPG has achieved 4.76% or $0.34 and has reached a new high 7 times. However, the current price is down -31.44% from the 52-week high price.

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Valuation Metrics

CPG stock has a beta of 2.91. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.42 while the price-to-book (PB) in the most recent quarter is 0.59, with the price to cash flow ratio at 3.33.

Crescent Point Energy Corp.’s quick ratio for the period ended September 29 was 0.60, with the current ratio over the same period at 0.60. As well, the company’s long term debt to equity for the quarter ending September 29 was 0.14, while the total debt to equity was 0.22. In terms of profitability, the gross margin trailing 12 months is 80.10%. The firm’s gross profit as reported stood at $604.41 million against revenue of $2.26 billion.

Earnings Surprise

For the quarterly period ending September 29 this year, Crescent Point Energy Corp.’s cash and short-term investments amounted to $6.05 million against total debt of $1.58 billion. Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -153.26% to -$791.51 million, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected CPG to announce $0.37 per share in earnings in its latest quarter, but it posted $0.61, representing a 64.90% surprise. EBITDA for the quarter stood at more than $674.85 million. CPG stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 2.47 billion, with total debt at $1.58 billion.

Let’s look briefly at Crescent Point Energy Corp. (CPG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 68.65% to suggest the stock is trending Neutral, with historical volatility in this time period at 23.02%.

The stock’s 5-day moving average is $7.27, reflecting a +4.76% or $0.34 change from its current price. CPG is currently trading +8.24% above its 20-day SMA, -8.44% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -10.51% and SMA200 by+4.46%.

Stochastic %K and %D was 88.91% and 82.02% and the average true range (ATR) pointed at 0.26. The RSI (14) points at 60.69%, while the 14-day stochastic is at 97.70% with the period’s ATR at 0.28. The stock’s 9-day MACD Oscillator is pointing at 0.21 and 0.39 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Crescent Point Energy Corp. (NYSE: CPG), Scotiabank upgraded it to a Sector outperform rating. They previously had a Sector perform rating on the stock. Analysts offering their rating for CPG stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate CPG as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 11 have offered a “buy” rating.

What is CPG’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $8.58 and a high of $13.59, with their median price target at $10.45. Looking at these predictions, the average price target given by analysts is for Crescent Point Energy Corp. (CPG) stock is $10.70.

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