Advertisement
Canada markets closed

  • S&P/TSX

    22,290.62
    +31.15 (+0.14%)
     

  • S&P 500

    5,187.70
    +6.96 (+0.13%)
     

  • DOW

    38,884.26
    +31.99 (+0.08%)
     

  • CAD/USD

    0.7286
    -0.0035 (-0.48%)
     

  • CRUDE OIL

    78.37
    -0.11 (-0.14%)
     

  • Bitcoin CAD

    86,657.23
    -564.20 (-0.65%)
     

  • CMC Crypto 200

    1,308.29
    -56.83 (-4.16%)
     

  • GOLD FUTURES

    2,322.50
    -8.70 (-0.37%)
     

  • RUSSELL 2000

    2,064.65
    +3.97 (+0.19%)
     

  • 10-Yr Bond

    4.4630
    -0.0260 (-0.58%)
     

  • NASDAQ futures

    18,197.75
    +2.25 (+0.01%)
     

  • VOLATILITY

    13.23
    -0.26 (-1.93%)
     

  • FTSE

    8,313.67
    +100.18 (+1.22%)
     

  • NIKKEI 225

    38,835.10
    +599.03 (+1.57%)
     

  • CAD/EUR

    0.6772
    -0.0020 (-0.29%)
     

Crescent Point Energy (CPG) Stock Moves -0.32%: What You Should Know

Zacks Equity Research
·2 min read

Crescent Point Energy (CPG) closed at $6.18 in the latest trading session, marking a -0.32% move from the prior day. This change was narrower than the S&P 500's 2.11% loss on the day. Elsewhere, the Dow lost 1.54%, while the tech-heavy Nasdaq lost 0.3%.

Heading into today, shares of the oil producer had lost 18.31% over the past month, lagging the Oils-Energy sector's loss of 11.61% and the S&P 500's loss of 8.19% in that time.

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

CPG's full-year Zacks Consensus Estimates are calling for earnings of $2.69 per share and revenue of $3.59 billion. These results would represent year-over-year changes of +273.61% and +35.39%, respectively.

ADVERTISEMENT

Investors might also notice recent changes to analyst estimates for Crescent Point Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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. The Zacks Consensus EPS estimate has moved 2.18% lower within the past month. Crescent Point Energy is currently sporting a Zacks Rank of #3 (Hold).

Looking at its valuation, Crescent Point Energy is holding a Forward P/E ratio of 2.3. This represents a discount compared to its industry's average Forward P/E of 4.8.

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 68, which puts it in the top 27% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Crescent Point Energy Corporation (CPG) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research