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Crescent Point Energy Corp. (CPG.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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4.7800-0.0800 (-1.65%)
At close: 4:00PM EDT
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  • M
    MP
    This strategic Acquisition enhances Crescent Point's core principles of balance sheet strength and sustainability. In particular, these Assets, which are situated in the heart of the condensate rich fairway, are expected to enhance the Company's free cash flow profile, inventory depth and include key infrastructure that is expected to lower future capital requirements.
  • L
    Logan
    Crescent Point is expected to generate significant excess cash flow in 2021. The Company's initial priority remains centered on balance sheet strength followed by the opportunity to return additional capital to shareholders. Expect a nice dividend update sometime this year :)
  • U
    UncleRemus
    If I ever break even on this I will donate my dividends to save the cats 🐈‍⬛ foundation
  • R
    Ron
    Good to see CPG back to its Chinese like water toucher tactics. Down 6 consecutive sessions and counting.
  • K
    K
    Can’t wait for this to return to $15-20 share, laughing as I have bought long the last two years, sold nothing. Time to ride.
  • C
    CHARLES
    The whole market is down! CPG will make a run in the near future.... the fundamentals are there. Enjoy the roller coaster.
  • L
    LiquidOctopus
    The consolidation pullback was a little more than I expected. I'm not sure what's driving it. CPG is worth more than this at $60 WTI and anything over is solid. Anyways, I'm a long so a bad morning's trading doesn't worry me much.
  • p
    politicalcartoon
    Saturday
    CPG as we close on the Shell Acquisition.
    It is nice to have all the grapes of Wrath in the bowl and not all over the floor.
  • L
    LiquidOctopus
    Did anyone else see CIBC analyst Jamie Kubik raised the price target on Crescent Point to $8? Great news.
  • Z
    Zahid
    There is some thing fishy going on. I wonder company’s management is considering using free cash flow for huge investment activity and not thinking of returning to the shareholders by increasing dividend or improving balance sheet by repaying loan. The stock has almost gone down 15% in spite of huge increase in oil price in last 10 days.
  • B
    BlindAndNaive
    Caught a bit of the CEO on BNN. I heard $600+ million FCF and returning to a base dividend for shareholders. Good interview and news for shareholders. Let's see $6+ by Friday close!
  • R
    Ron
    Can someone tell me what happened to this message board because it seems odd to me right now. Before CPG's latest price increase there was hardly any discussions. Now, we have the whole lot of sesame street and disney characters chiming in on their thoughts (and posting cute videos) about how well the stock is going to do. Are we looking at employees at the company or a group(s) of investors pumping the stock or both?
  • s
    scoffer1210
    My ACB here is $2.04. Decided to buy in last year a little after the sector crashed with price of oil...any seasoned investor would have recognized the buying opportunity. I chose CPG as it was one of the top holdings in Nine Points Energy Fund. It was good enough for them, so it was good enough for my $$. Target is $7-8, but I have a feeling I will be changing that to $10 by the inventory reports the week after the American Memorial Day long weekend. Gentlemen, start your engines....lol
  • p
    politicalcartoon
    Rule #1
    Well that didn't work !
    So tomorrow I expect an apology.
  • Y
    Yo Ernie { pops }đŸ€
    Markets being manipulated CPG @ $60 Oil should be way up - Alberta’s little Cielo is & $1 range and this Giant at around $5 what a laugher 😂 ok invest More in CPG
  • L
    Logan
    Crescent Point Energy has seen the Toronto Stock Exchange approve its request for a normal course issuer bid. More commonly referred to as share buybacks, the program is expected to begin on March 9, 2021.
  • M
    Money Duck
    Bought a ton 😂 below $5
  • A
    Aaron
    it is comforting knowing that Crescent Point is a core holding in XCS small cap ETF. Why buy the ETF when you can own the holdings itself
  • S
    Stuart
    Here's hoping for a new 52 week high in the near future!
  • j
    jon
    FINANCIAL HIGHLIGHTS

    For the year ended December 31, 2020, the Company's adjusted funds flow totaled $874.4 million, or $1.64 per share diluted. In the fourth quarter, adjusted funds flow totaled $220.2 million, or $0.41 per share diluted.

    For the year ended December 31, 2020, Crescent Point's development capital expenditures, which included drilling and development, facilities and seismic, totaled $654.8 million, including $169.4 million spent during fourth quarter. As a result, the Company's 2020 development capital expenditures were below its most recent annual guidance of $665 million.

    As at December 31, 2020, Crescent Point's net debt was approximately $2.1 billion. Management successfully reduced the Company's net debt by over $615 million in 2020, including approximately $40 million in fourth quarter. Crescent Point's unutilized credit capacity is expected to total approximately $2.0 billion upon closing of the Acquisition in April 2021. The Company's credit facilities are not due for renewal until October 2023.

    As part of its risk management program to protect against commodity price volatility, the Company maintains an active hedging portfolio. Crescent Point will have approximately 30 percent of its oil and liquids production, net of royalty interest, hedged through the remainder of 2021 upon closing of the Acquisition. These hedges primarily consist of swaps with an average price of over CDN$60/bbl. Crescent Point plans to remain disciplined in its approach to layering on additional protection in the context of commodity prices.

    As previously announced, the Company recorded a non-cash asset impairment charge of $3.6 billion ($2.7 billion after-tax) in first quarter 2020, primarily due to a significant decrease in the independent engineering price forecast. This resulted in Crescent Point incurring a net loss of $2.5 billion for the year ended December 31, 2020. Neither the Company's adjusted funds flow, nor its credit capacity were impacted by this charge, which is reversible in future periods should there be indications of a change in value, including higher forecast commodity prices. Crescent Point's adjusted net earnings for the year ended December 31, 2020 were $177.4 million.

    Subsequent to the quarter, the Company declared a quarterly cash dividend of $0.0025 per share payable on April 1, 2021.