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Crescent Point Energy (CPG) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·3-min read

Crescent Point Energy (CPG) closed the most recent trading day at $6.90, moving -1.43% from the previous trading session. This change lagged the S&P 500's daily loss of 1.13%. Meanwhile, the Dow lost 1.01%, and the Nasdaq, a tech-heavy index, lost 0.14%.

Coming into today, shares of the oil producer had lost 7.77% in the past month. In that same time, the Oils-Energy sector lost 1.89%, while the S&P 500 lost 7.59%.

Investors will be hoping for strength from Crescent Point Energy as it approaches its next earnings release. The company is expected to report EPS of $0.33, up 73.68% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $2.69 per share and revenue of $3.59 billion, which would represent changes of +273.61% and +35.39%, respectively, from the prior year.

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Investors should also note any recent changes to analyst estimates for Crescent Point Energy. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.47% lower. Crescent Point Energy currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Crescent Point Energy has a Forward P/E ratio of 2.6 right now. For comparison, its industry has an average Forward P/E of 5.32, which means Crescent Point Energy is trading at a discount to the group.

The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 37% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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Zacks Investment Research