|Bid||1.0000 x 0|
|Ask||1.0100 x 0|
|Day's Range||0.8100 - 1.0200|
|52 Week Range||0.7500 - 6.3000|
|Beta (5Y Monthly)||1.82|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 06, 2020 - May 10, 2020|
|Forward Dividend & Yield||0.04 (4.40%)|
|Ex-Dividend Date||Mar. 11, 2020|
|1y Target Est||3.99|
How should the coronavirus outbreak impact your investing strategy in oil companies such as Crescent Point Energy (TSX:CPG)(NYSE:CPG) and Baytex Energy (TSX:BTE)(NYSE:BTE)?The post How to Invest in Oil During the Coronavirus appeared first on The Motley Fool Canada.
The next few months may not be good for Baytex Energy (TSX:BTE)(NYSE:BTE) or American Hotel Income Properties REIT (TSX:HOT.UN). They might even go bankrupt. The post Market Selloff: These 3 Stocks Could Go Bankrupt in 2020 appeared first on The Motley Fool Canada.
TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:Toronto Stock Exchange (12,360.40, down 1,355.93 points.)Bombardier Inc. (BBD.B) Industrials. Down 17 cents, or 21.8 per cent to $0.61 on 22.6 million shares.Canadian Natural Resources. (TSX:CNQ). Energy. Down $5.41, or 27.25 per cent, to $14.44 on 18.3 million shares.Kinross Gold Corp. (TSX:K). Materials. Up 83 cents, or 17.26 per cent to $5.64 on 15.7 million shares.Suncor Energy Inc. (TSX:SU). Energy. Down $3.47, or 15.37 per cent, to $19 on 13.2 million shares.Toronto-Dominion Bank (TSX:TD). Financials. Down $6, or 9.82 per cent, to $55.11 on 11.8 million shares.Cenovus Energy Inc. (TSX:CVE). Energy. Down 69 cents, or 16.59 per cent, to $3.47 on 11.7 million shares.Companies in the news:Air Canada (TSX:AC). Down $7.14 or 28.1 per cent to $18.23. Air Canada is halving its seat capacity in the second quarter and withdrawing its earnings forecast for 2020 and 2021 amid a "severe drop in traffic" due to the novel coronavirus. Chief executive Calin Rovinescu said Monday that COVID-19 is presenting the airline industry with "unprecedented challenges," adding he is confident Air Canada can weather the storm of cancellations and border closures. The country's largest airline has now suspended or postponed 18 transatlantic routes as Canada announced Monday an entry ban on most non-residents, with U.S. citizens excepted.Aurora Cannabis Inc. (TSX:ACB). Down eight cents or 7.5 per cent to 99 cents. Aurora Cannabis Inc. says founder and former chief executive Terry Booth has sold nearly 12.2 million shares in the company into the open market. The company says the sale is in connection with a restructuring of the company earlier this year that saw the elimination of 500 jobs and Booth's retirement from the company. Aurora announced Booth's departure from the company in February. According to a regulatory filing ahead of the company's annual meeting last year, Booth held 15.2 million shares, nearly 2.2 million options and 305,000 restricted share units at June 30, 2019.Crescent Point Energy Corp. (TSX:CPG). Down 28 cents, or 20.7 per cent to $1.07. More Calgary-based oil and gas producers are cutting spending plans as crude prices fall further and financial analysts lower their stock ratings. Producers Crescent Point Energy Corp., Enerplus Corp., Vermilion Energy Inc. and NuVista Energy Ltd. all announced cuts in their 2020 capital budgets on Monday, adding to a list that includes Husky Energy Inc., Cenovus Energy Inc. and ARC Resources Ltd. Oil producers have been trimming spending and focusing on cost cutting for years after crude prices fell dramatically in 2015 and 2016.Restaurant Brands International Inc. (TSX:QSR). Down $13.07 or 20.7 per cent to $50.01. Tim Hortons parent company Restaurant Brands International Inc. says it is asking Canadian restaurant owners to provide take-out, drive-thru and delivery only in an effort to reduce the spread of COVID-19. The company said Monday it is closing all dining room seating at Tim Hortons effective Tuesday and will continue the closures until further notice. The change comes as governments across the country urge Canadians to engage in social distancing to slow the spread of the virus.MTY Food Group Inc. (TSX:MTY). Soqn $13.20 or 36.3 per cent to $23.20. MTY Food Group Inc. says it will postpone the collection of royalties from franchisees for four weeks as its stock plummeted amid decreased demand triggered by COVID-19. The owner of brands including Thai Express and Tutti Frutti says the postponement will support franchisees as traffic declines. CEO Eric Lefebvre says the deferred royalties amount to between $15 million and $18 million.This report by The Canadian Press was first published March 16, 2020. The Canadian Press
The parade of Canadian energy companies tightening their spending belts to cope with a global oil price rout that shows little sign of abating will be followed by a wave of survival-driven M&A activity.
CALGARY — More Calgary-based oil and gas producers are cutting spending plans as crude prices fall further and financial analysts lower their stock ratings.Despite the cuts, stock prices continued to plummet on Monday, with the S&P/TSX Capped Energy Index down 11.5 per cent at midday in Toronto. The measure of the value of Canada's top energy companies has been cut almost in half over the past week. Producers Crescent Point Energy Corp., Enerplus Corp., Vermilion Energy Inc. and NuVista Energy Ltd. all announced cuts in their 2020 capital budgets on Monday, adding to a list that includes Husky Energy Inc., Cenovus Energy Inc. and ARC Resources Ltd."As uncertainty around oil prices remains, we expect more budgets will be reduced along with dividend cuts as well," warned National Bank of Canada in an industry report on Sunday."Capex cuts have ranged between 20 and 65 per cent (for its coverage group) and are averaging 31 per cent, while guidance production decreases have ranged between two and seven per cent and are averaging four per cent."Oil producers have been trimming spending and focusing on cost cutting for years after crude prices fell dramatically in 2015 and 2016.The latest cuts come as the novel coronavirus outbreak erodes global energy demand and a price war between top producers Saudi Arabia and Russia threatens to flood the oil market with cheap crude.Crescent Point said it now plans capital spending between $700 million to $800 million this year, down from a range of $1.1 billion to $1.2 billion, and it plans to cut its dividend from a penny per quarter to the equivalent of a penny per year.It also reduced its production forecast to about 132,000 barrels of oil equivalent per day from 142,000 boe/d.Enerplus announced a capital spending budget of $325 million, down about 40 per cent from its earlier range of between $520 million and $570 million.It said it will stop all operated drilling and well completions activity in its key oilfields in North Dakota by mid-April, leaving 32 uncompleted wells to be brought on stream in the future if prices recover.Production of oil and natural gas liquids is expected to fall by seven per cent to about 51,000 barrels per day, down from previous guidance of about 58,500 bpd."We're taking immediate and decisive steps to protect value and maintain our balance sheet strength in response to the rapid deterioration in crude oil prices stemming from simultaneous supply and demand shocks,” said CEO Ian Dundas in a statement.On March 6, Vermilion cut its dividend in half and warned it would reduce its $450-million 2020 budget if oil prices stayed low.On Monday, it did just that, slicing between $80 million and $100 million from the budget and delivering a further reduction in the monthly dividend to two cents per share from 11.5 cents.It said the combination would reduce annual cash outlays by about $270 million, "providing greater flexibility to manage our business through this period of depressed and uncertain commodity prices."NuVista said it plans to spend no more than $240 million on capital projects this year, down from an earlier range of $300 million to $330 million.Production is expected to be in the range of 54,000 to 57,000 boe/d, compared to the lower end of prior guidance at 57,000 boe/d.This report by The Canadian Press was first published March 16, 2020.Companies in this story: (TSX:CPG, TSX:VET, TSX:ERF, TSX:NVA, TSX:CVE, TSX:ARX, TSX:HSE) Dan Healing, The Canadian Press
CALGARY, March 16, 2020 /CNW/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is revising its 2020 capital spending by approximately 35 percent in response to the recent decline in commodity prices. This conservative and disciplined approach demonstrates the Company's flexibility, focus on returns and prudent risk management to protect its balance sheet. "Our original plans for 2020 centered on returns, capital discipline, cost savings initiatives and balance sheet strength," said Craig Bryksa, President and CEO of Crescent Point.
Even if it's not a huge purchase, we think it was good to see that Craig Bryksa, the President of Crescent Point...
(Bloomberg) -- Canadian markets were battered on all fronts as the collapse in oil sent shockwaves through a country with one of the biggest exposures to the commodity among the Group of Seven.The S&P/TSX Composite Index plunged 10.3%, wiping out $218 billion in market value in the biggest one-day drop since 1987. The loonie also slumped and government bond yields plunged to fresh record lows as investor pessimism deepened for an economy that barely eked out any growth in the fourth quarter and is already grappling with the coronavirus.Oil and gas stocks plummeted with Meg Energy Corp. tumbling 56%, Cenovus Energy Inc. dropping 52% and Crescent Point Energy Corp. slipping 43%. Only one stock was in the green -- Dollarama Inc., which gained 1.7%.The slump in oil will exact another heavy toll on the natural resource-dependent country, which generates about 9% of its gross domestic product from energy and has the biggest exposure to the sector on its stock market at 15%.“The oil price crash will do irreparable damage to the Canadian economy and stock market,” said Ed Moya, a senior market analyst at Oanda Corp. in New York. “Canadians will have to brace for lower prices for the foreseeable future and the oil sector will have to consolidate. Even when virus fears ease, the oil-dependent Canadian economy snapback rally will lag their peers,” he said.The loonie weakened by about 1.9% against the greenback as of 4:14 p.m., the most since June 2016. West Texas Intermediate, the North American benchmark, was down 25%, the biggest descent since 1991, after tumbling as much as 34%.“The Canadian dollar is embattled with risks to already weak economic growth coming from all angles,” Simon Harvey a London-based market analyst at Monex Europe Ltd. and Monex Canada Inc., said by email. “Markets are coming to the realization that rate cuts by the Bank of Canada will soon lose their effectiveness on supporting the economy, especially with the latest risk of a lower oil price for longer.”Further FallsHarvey sees the loonie falling further away from the C$1.30 area if the oil-price rout is sustained while Bipan Rai, North American head of FX strategy at Canadian Imperial Bank of Commerce expects the C$1.40 to breached in the the next two quarters.The loonie “needs to weaken further given the high degree of oil exports as a percentage of Canada’s goods exports,” Rai said. U.S. dollar “bulls may require some patience as price action is overbought, but ‘buy the dip’ is still the right strategy for” the dollar-loonie currency pair.With the Canadian dollar’s correlation to oil prices, it’s bound to keep weakening.“The currencies of any country for which the oil sector is a significant growth generator are having an awful day and won’t stabilize until oil finds a bottom,” said Kit Juckes, a strategist at Societe Generale SA, said in an email Monday.The loonie “is likely to underperform the Australia and New Zealand dollars for example, as long as oil prices are falling.”The yield on Canada’s 10-year benchmark fell to as low as 0.225% on Monday and the five-year note hit 0.276%, according to Bloomberg data. Traders are now betting on the Bank of Canada, which last week lowered its policy rate to 1.25%, to cut another 50 basis points by its next scheduled meeting in April and another 25 basis points by July.(Updates throughout with stock market close, market prices.)To contact the reporters on this story: Jacqueline Thorpe in Toronto at email@example.com;Divya Balji in Toronto at firstname.lastname@example.org;Susanne Barton in New York at email@example.comTo contact the editors responsible for this story: Derek Decloet at firstname.lastname@example.org, Jacqueline ThorpeFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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How will coronavirus impact energy stocks such as Crescent Point Energy (TSX:CPG)?The post Buy Energy Stocks Now -- But Wait on Commodities appeared first on The Motley Fool Canada.
Crescent Point (CPG) delivered earnings and revenue surprises of 0.00% and -4.57%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
CALGARY , March 5, 2020 /CNW/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is pleased to announce its operating and financial results for the ...
CALGARY, March 5, 2020 /CNW/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is pleased to announce the Toronto Stock Exchange ("TSX") has accepted its notice to implement a normal course issuer bid ("NCIB") to purchase, for cancellation, up to 36,884,438 common shares, or seven percent of the Company's public float, as at February 28, 2020. The NCIB is scheduled to commence on March 9, 2020 and is due to expire on March 8, 2021.