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Crescent Point Energy (CPG) Gains As Market Dips: What You Should Know

Zacks Equity Research
·2 min read

Crescent Point Energy (CPG) closed the most recent trading day at $3.78, moving +1.34% from the previous trading session. This change outpaced the S&P 500's 0.08% loss on the day.

Heading into today, shares of the oil producer had gained 13.72% over the past month, outpacing the Oils-Energy sector's gain of 4.34% and the S&P 500's loss of 1.81% in that time.

CPG will be looking to display strength as it nears its next earnings release, which is expected to be October 28, 2021. The company is expected to report EPS of $0.21, up 110% from the prior-year quarter.

It is also important to note the recent changes to analyst estimates for CPG. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. CPG is currently a Zacks Rank #3 (Hold).

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 19, which puts it in the top 8% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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Zacks Investment Research