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Crescent Point Energy (CPG) Gains But Lags Market: What You Should Know

·2 min read

Crescent Point Energy (CPG) closed the most recent trading day at $6.92, moving +0.58% from the previous trading session. This change lagged the S&P 500's 0.66% gain on the day. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq lost 0.02%.

Heading into today, shares of the oil producer had lost 4.97% over the past month, lagging the Oils-Energy sector's gain of 4.6% and the S&P 500's loss of 3.79% in that time.

Investors will be hoping for strength from Crescent Point Energy as it approaches its next earnings release. The company is expected to report EPS of $0.34, up 78.95% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $2.72 per share and revenue of $3.59 billion, which would represent changes of +277.78% and +35.39%, respectively, from the prior year.

Any recent changes to analyst estimates for Crescent Point Energy should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 0.37% higher. Crescent Point Energy currently has a Zacks Rank of #2 (Buy).

Investors should also note Crescent Point Energy's current valuation metrics, including its Forward P/E ratio of 2.53. Its industry sports an average Forward P/E of 5.13, so we one might conclude that Crescent Point Energy is trading at a discount comparatively.

The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 50, putting it in the top 20% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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