Crescent Point Energy (CPG) Gains As Market Dips: What You Should Know

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Crescent Point Energy (CPG) closed the most recent trading day at $7.46, moving +0.27% from the previous trading session. The stock outpaced the S&P 500's daily loss of 2.8%. At the same time, the Dow lost 2.11%, and the tech-heavy Nasdaq lost 0.06%.

Prior to today's trading, shares of the oil producer had gained 7.51% over the past month. This has outpaced the Oils-Energy sector's gain of 1.49% and the S&P 500's loss of 4.08% in that time.

Wall Street will be looking for positivity from Crescent Point Energy as it approaches its next earnings report date. On that day, Crescent Point Energy is projected to report earnings of $0.33 per share, which would represent year-over-year growth of 73.68%.

For the full year, our Zacks Consensus Estimates are projecting earnings of $2.63 per share and revenue of $3.59 billion, which would represent changes of +265.28% and +35.39%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for Crescent Point Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

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. Over the past month, the Zacks Consensus EPS estimate has moved 3.31% lower. Crescent Point Energy is currently a Zacks Rank #5 (Strong Sell).

In terms of valuation, Crescent Point Energy is currently trading at a Forward P/E ratio of 2.83. This valuation marks a discount compared to its industry's average Forward P/E of 5.88.

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 232, which puts it in the bottom 8% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow CPG in the coming trading sessions, be sure to utilize Zacks.com.


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