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Crescent Point Energy (CPG) Outpaces Stock Market Gains: What You Should Know

·2 min read

Crescent Point Energy (CPG) closed at $4.55 in the latest trading session, marking a +0.66% move from the prior day. This move outpaced the S&P 500's daily gain of 0.16%.

Prior to today's trading, shares of the oil producer had gained 25.91% over the past month. This has outpaced the Oils-Energy sector's gain of 6.81% and the S&P 500's loss of 3.32% in that time.

Wall Street will be looking for positivity from CPG as it approaches its next earnings report date. This is expected to be October 28, 2021. On that day, CPG is projected to report earnings of $0.21 per share, which would represent year-over-year growth of 110%.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.40 per share and revenue of $2.42 billion. These totals would mark changes of +1260% and +90.35%, respectively, from last year.

Any recent changes to analyst estimates for CPG should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. CPG is currently sporting a Zacks Rank of #3 (Hold).

Looking at its valuation, CPG is holding a Forward P/E ratio of 1.33. This represents a discount compared to its industry's average Forward P/E of 7.1.

The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 113, putting it in the top 45% 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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