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Tuesday, December 1, 2020

Crescent Point Energy Corp. (NYSE:CPG) on the Path to Ruin

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Crescent Point Energy Corp. (CPG) shares are trading at lower $1.78 and the avg recommendation for the stock is Hold.

To add more color to this target, the company’s high over the last year is $4.84 and the low is $0.51. Over the last 52 weeks, CPG is down -42.77% while the S&P 500 is up 16.12%%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, CPG reported a profit of $-121.0 million. Crescent Point Energy Corp. also saw revenues decrease to $165.8 million. In addition, CPG has free cash flow of -$14.36 million as of 06-2020. The company’s EBITDA came in at -$96.28 million which compares well with its peers.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. CPG has a short ratio of 6.32 and outstanding shares of 529.30M.

Company Outlook

CPG has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 2.03 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.39. Crescent Point Energy Corp. CPG also noted assets of $4.99 billion at the end of the last quarter. Investors should also keep an eye on sector updates as CPG has historically followed its peers on positive news.

All told, Crescent Point Energy Corp. CPG has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CPG represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Crescent Point Energy Corp. CPG is now commanding a market cap of 942.15M and a float of 528.70M. CPG is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of CPG stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in CPG, either long or short, and we have not been compensated for this article.

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