Crescent Point Energy Corp. (NYSE:CPG) marked $7.97 per share on Wednesday, down from a previous closing price of $8.13. While Crescent Point Energy Corp. has underperformed by -1.97%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CPG rose by 4.33%, with highs and lows ranging from $8.59 to $5.47, whereas the simple moving average jumped by 11.82% in the last 200 days.
On July 21, 2023, Canaccord Genuity started tracking Crescent Point Energy Corp. (NYSE: CPG) recommending Buy.
Analysis of Crescent Point Energy Corp. (CPG)
CPG currently pays a dividend of $0.40 per share, which means investors will get a return regardless of the company’s performance over the next few months. Further, the quarter-over-quarter decrease in sales is -25.60%, showing a negative trend in the upcoming months.
In order to gain a clear picture of Crescent Point Energy Corp.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of 5.90% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.70, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 3.49M can be a very valuable indicator of volatility for CPG stock. On a monthly basis, the volatility of the stock is set at 3.23%, whereas on a weekly basis, it is put at 3.70%, with a loss of -2.09% over the past seven days. Furthermore, long-term investors anticipate a median target price of $10.14, showing growth from the present price of $7.97, which can serve as yet another indication of whether CPG is worth investing in or should be passed over.
How Do You Analyze Crescent Point Energy Corp. Shares?
The Canada based company Crescent Point Energy Corp. (CPG) is one of the biggest names in Oil & Gas E&P. When comparing Crescent Point Energy Corp. shares with other companies under Energy, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 11.29, there is a growth in quarterly earnings of -32.40%.
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.45%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 38.97% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in CPG shares?
The recent increase in stakes in CPG appears to be a result of several institutional investors and hedge funds increasing their positions. Franklin Mutual Advisers LLC’s position in CPG has increased by 38.12% in the first quarter. The company now owns 29,417,434 shares of the stock, with a value of $197.98 million, following the purchase of 8,119,200 additional shares during the last quarter. The Vanguard Group, Inc. made another decreased to its shares in CPG during the first quarter, downing its stake by -0.26%. During the last quarter, the company picked up -32,949 additional shares for a total stake of worth $85.91 million, bringing number of shares owned by the company to 12,765,823.
During the first quarter, CIBC Asset Management, Inc. added a 3,985,450 position in CPG. Acadian Asset Management LLC sold an additional -3.21 million shares in the last quarter, decreasing its holdings by -20.90%, now holding 12.15 million shares worth $81.79 million. At the end of the first quarter, Dimensional Fund Advisors LP increased its CPG holdings by 11.76% and now holds 9.65 million CPG shares valued at $64.94 million with the added 1.02 million shares during the period. CPG shares are owned by institutional investors to the tune of 38.97% at present.