Crescent Point Energy Corp. (NYSE: CPG): Analyst View Points To Future Growth

UPWK stock
UPWK stock

BMO Asset Management, Inc. has recently announced that it has increased stake in Crescent Point Energy Corp. (NYSE:CPG) by 119.44%. After grabbing 15.57 million shares, the institutional investor is now in possession of 8.48 million shares of the Energy Company. The new investment brought the stake of investor firm to 2.94% having worth around $23.98 million. Moreover, Connor, Clark & Lunn Investment M.. increased its share by 4.16 million to have a control over 13.3 million shares. And CIBC Asset Management, Inc. raised its holdings to 2.85 million shares by acquiring 6.38 million shares or 1.21% of the stake.

Crescent Point Energy Corp. (CPG) concluded trading on 08/27/20 at a closing price of $1.80, with 1.79 million shares of worth about $3.22 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -6.74% during that period and on Thursday the price saw a loss of about -1.64%. Currently the company’s common shares owned by public are about 529.30M shares, out of which, 528.70M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 16 analysts are covering the CPG stock and their offered price forecasts bring an average price target of $2.05. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $2.46 and could fall to a lowest price of $1.50. Analysts also issued an outlook of 3.00 for the Crescent Point Energy Corp. stock for next 12 months. However, touching the estimated high of $2.46 would mean a gain of 26.83% for the stock.

Franklin Small Cap Value Fund, Vanguard Total International Stoc, and Government Pension Fund – Global are the top 3 mutual funds which are holding stakes in Crescent Point Energy Corp. Franklin Small Cap Value Fund is currently holding 12.32 million shares of worth totaling $18.97 million. The company recently came buying 0.0 shares which brought its stake up to 2.33% of the company’s outstanding shares. Vanguard Total International Stoc sold -0.26 million shares, after which its hold over company’s outstanding shares shrunk to 1.74%, leaving 9.21 million shares with the mutual fund that have a worth of about $14.18 million. Government Pension Fund – Global, after buying 7.23 million shares, have now control over 1.37% of the stake in the company. It holds 0.35 million shares of worth $11.13 million.

Crescent Point Energy Corp. (NYSE: CPG) started trading at $1.82, below -$0.01 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $1.80, or with a loss of -1.64%. Stock saw a price change of -6.74% in past 5 days and over the past one month there was a price change of 7.14%. Year-to-date (YTD), CPG shares are showing a performance of -59.73% which decreased to -43.04% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.51 but also hit the highest price of $4.84 during that period. While comparing its average daily trading volume of 2.33 million shares, we see that about 1.79 million changed hands on the day. The stock is currently trading -2.25% below its 20-day simple moving average (SMA20), while that difference is up 5.18% for SMA50 and it goes to -22.35% lower than SMA200.

BMO Asset Management, Inc. acquired 15.57 million shares of Crescent Point Energy Corp. having value of about $23.98 million. Data submitted at the U.S SEC by BMO Asset Management, Inc. revealed that the firm now holds 8.48 million shares in the company valued at close to $15255142.2, or have control over 119.44% stake in the company. Crescent Point Energy Corp. (NYSE: CPG) currently have 529.30M outstanding shares and institutions hold larger chunk of about 43.69% of that. Holding of mutual funds in the company is about 25.00% while other institutional holders and individual stake holders have control over 6.64% and — of the stake respectively.

The stock has a current market capitalization of $952.74M. It has posted earnings per share of -$0.39 in the same period. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CPG, volatility over the week remained 5.46% while standing at 5.81% over the month.

Analysts are in expectations that Crescent Point Energy Corp. (CPG) stock would likely to be making an EPS of -$0.08 in the current quarter, while forecast for next quarter ESPS is $0 and it is $0.02 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.55 which is $0.05 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.08 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 81.90% while it is estimated to increase by 115.40% in next year.

Analysts at 16 brokerage firms have issued recommendations for the Crescent Point Energy Corp. (CPG)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.00. Out of those 16 Wall Street analysts, 4 recommended a “Buy” rating, while 11 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Scotiabank on June 15, 2020 offering a Sector perform rating for the stock and assigned a target price of to it. Coverage by Tudor Pickering stated Crescent Point Energy Corp. (CPG) stock as a Hold in their note to investors on March 25, 2020, suggesting a price target of for the stock. On March 16, 2020, BMO Capital Markets Downgrade their recommendations, while on September 16, 2019, BMO Capital Markets Upgrade their ratings for the stock with a price target of. Stock get a Sector outperform rating from CIBC on May 10, 2019.


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