Crescent Point Energy Corp

CPG-T

TSE:CPG

2.10
0.06 (2.94%)
Crescent Point Energy Corp. is an oil and gas company based in Calgary, Alberta, Canada and Denver, Colorado, United States. The company focuses primarily on light oil production in southern Saskatchewan and the Uinta basin in Utah.
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Analysis and Opinions about CPG-T

Signal
Opinion
Expert
BUY WEAKNESS
BUY WEAKNESS
January 24, 2020
They had a balance sheet issue and began selling assets to pay down debt, including the sale of infrastructure assets. This will reduce debt below $3 billion. Any cash generation will be levered to WTI prices as they are 90% liquids based. A rise in WTI prices will lead to more share buybacks he thinks. At $70 WTI, it traded at $20. His target price is $7. He thinks there are better names out there. Perhaps buy on weakness.
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They had a balance sheet issue and began selling assets to pay down debt, including the sale of infrastructure assets. This will reduce debt below $3 billion. Any cash generation will be levered to WTI prices as they are 90% liquids based. A rise in WTI prices will lead to more share buybacks he thinks. At $70 WTI, it traded at $20. His target price is $7. He thinks there are better names out there. Perhaps buy on weakness.
DON'T BUY
DON'T BUY
January 23, 2020
It has never been a favorite. The company has grown but the debt position has also. If the sector rallies then it will move but otherwise there is a lot of stock and high debt.
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It has never been a favorite. The company has grown but the debt position has also. If the sector rallies then it will move but otherwise there is a lot of stock and high debt.
PAST TOP PICK
PAST TOP PICK
January 3, 2020
(A Top Pick Jan 04/19, Up 37%) He recommended it at a low point last year. Today, it moved well. He strictly trades this stock and is not in it right now. However, he has made 30%-50% trading it in the past. He's getting his feet back into energy but he would prefer other names.
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(A Top Pick Jan 04/19, Up 37%) He recommended it at a low point last year. Today, it moved well. He strictly trades this stock and is not in it right now. However, he has made 30%-50% trading it in the past. He's getting his feet back into energy but he would prefer other names.
PARTIAL SELL
PARTIAL SELL
December 24, 2019
You can take profits now and re-buy later. WTI oil will likely see weakness. Big resistance at $6, so you can take some profits now. He predicts a general market pullback in January. He predicts a 10-15% pullback in CPG, but he likes the 2002-2021 outlook for CPG and oil.
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You can take profits now and re-buy later. WTI oil will likely see weakness. Big resistance at $6, so you can take some profits now. He predicts a general market pullback in January. He predicts a 10-15% pullback in CPG, but he likes the 2002-2021 outlook for CPG and oil.
WATCH
WATCH
December 20, 2019
A lot of the stocks are trading substantially below book values. They are in North Dakota and Southern Saskatchewan. They have been buying back their stocks. The dividend has been cut but the stock has been acting well.
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A lot of the stocks are trading substantially below book values. They are in North Dakota and Southern Saskatchewan. They have been buying back their stocks. The dividend has been cut but the stock has been acting well.
TOP PICK
TOP PICK
December 19, 2019
They have been buying back stock and sold mid-stream assets. It is trading at 18% free cash flow yield. It is 2.7 times enterprise value to cash flow, which is staggering considering multiple compression. They are not as exposed to pipeline bottlenecks as others. (Analysts’ price target is $7.40)
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They have been buying back stock and sold mid-stream assets. It is trading at 18% free cash flow yield. It is 2.7 times enterprise value to cash flow, which is staggering considering multiple compression. They are not as exposed to pipeline bottlenecks as others. (Analysts’ price target is $7.40)
DON'T BUY
DON'T BUY
December 16, 2019
He would not buy any E&P companies right now. You need a rally in the commodity price to get people excited. Companies are just paying down debt and buying back stock, but that won't get any attention. Look elsewhere.
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He would not buy any E&P companies right now. You need a rally in the commodity price to get people excited. Companies are just paying down debt and buying back stock, but that won't get any attention. Look elsewhere.
PAST TOP PICK
PAST TOP PICK
December 10, 2019
(A Top Pick Dec 31/18, Up 20%) He still likes it. They did wrong things in the past--issuing alot of equity--but are doing the right things now--share buybacks and selling off assets. These please shareholders, not production growth. CPG just sold its infrastructure assets last month at 7x, but the stock is trading at 3x. The balance sheet is now 2x debt-to-EBITDA.
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(A Top Pick Dec 31/18, Up 20%) He still likes it. They did wrong things in the past--issuing alot of equity--but are doing the right things now--share buybacks and selling off assets. These please shareholders, not production growth. CPG just sold its infrastructure assets last month at 7x, but the stock is trading at 3x. The balance sheet is now 2x debt-to-EBITDA.
TOP PICK
TOP PICK
December 10, 2019
They are well-positioned, what he wants an energy company to do. Forget about growing production, but rather get out of residual assets, improving their balance sheet and buying back shares. They're doing the opposite of what they did for years--issuing equity which drowned out valuation. They finally listened to shareholders and have reversed course. Great value at 3x operating cash flow. They just sold off infrastructure assets in Utah at 8x. Free cash flow yield is nearly 20%, which is great value. (Analysts’ price target is $7.40)
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They are well-positioned, what he wants an energy company to do. Forget about growing production, but rather get out of residual assets, improving their balance sheet and buying back shares. They're doing the opposite of what they did for years--issuing equity which drowned out valuation. They finally listened to shareholders and have reversed course. Great value at 3x operating cash flow. They just sold off infrastructure assets in Utah at 8x. Free cash flow yield is nearly 20%, which is great value. (Analysts’ price target is $7.40)
BUY
BUY
November 21, 2019
They just announced a sale of mid-stream operations in mid-Saskatchewan. An infrastructure deal will knock the debt down when it closes in Q1. They will continue to be able to pay down debt. His target is $7.50-$8.
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They just announced a sale of mid-stream operations in mid-Saskatchewan. An infrastructure deal will knock the debt down when it closes in Q1. They will continue to be able to pay down debt. His target is $7.50-$8.
HOLD
HOLD
November 15, 2019
The new CEO has payed down debt, rationalized assets and bought back stock. They are now monetizing assets at 10 times cash flow when the company is only trading at 2.8 times. All good things. If it traded back to 5 times cash flow, its share price would rise 100%.
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The new CEO has payed down debt, rationalized assets and bought back stock. They are now monetizing assets at 10 times cash flow when the company is only trading at 2.8 times. All good things. If it traded back to 5 times cash flow, its share price would rise 100%.
DON'T BUY
DON'T BUY
October 30, 2019
Oil prices? He doesn't have an oil price forecast. CPG is like a lot of other companies -- divesting assets and paying down debt. He thinks Canadian equities are dead in the water here and does not know what catalyst will help change things.
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Oil prices? He doesn't have an oil price forecast. CPG is like a lot of other companies -- divesting assets and paying down debt. He thinks Canadian equities are dead in the water here and does not know what catalyst will help change things.
WAIT
WAIT
October 25, 2019

Average down? The mid-cap energy trade has been very tough. CPG is executing on their plan, paying down debt, changing management and selling assets. If you like oil, thinking it will go up in value, it would be a good buy. We need to see large foreign investors coming back in again. You might buy CNQ instead.

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Average down? The mid-cap energy trade has been very tough. CPG is executing on their plan, paying down debt, changing management and selling assets. If you like oil, thinking it will go up in value, it would be a good buy. We need to see large foreign investors coming back in again. You might buy CNQ instead.

TOP PICK
TOP PICK
October 18, 2019
They are buying back stocks and breaking the trend of issuing more equity and growing. They have decent light oil, strong production and good cash flow generation. The energy sector risk is there, but it is a good buy among them.
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They are buying back stocks and breaking the trend of issuing more equity and growing. They have decent light oil, strong production and good cash flow generation. The energy sector risk is there, but it is a good buy among them.
COMMENT
COMMENT
October 15, 2019
They're paying down debt and buying back shares. He still doesn't like this stock or Canadian oil stocks. Wait longer. They report in November. He hopes the balance sheet looks better.
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They're paying down debt and buying back shares. He still doesn't like this stock or Canadian oil stocks. Wait longer. They report in November. He hopes the balance sheet looks better.
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