|Bid||1.0300 x 0|
|Ask||1.0400 x 0|
|Day's Range||0.9600 - 1.0800|
|52 Week Range||0.7500 - 6.3000|
|Beta (5Y Monthly)||1.82|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 06, 2020 - May 10, 2020|
|Forward Dividend & Yield||0.04 (3.67%)|
|Ex-Dividend Date||Mar 11, 2020|
|1y Target Est||3.99|
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
It was another volatile day for U.K. stocks on Tuesday, as equities gyrated on how to correctly price in the impact on the economy from the raging coronavirus.
Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is revising its 2020 capital spending by approximately 35 percent in response to the recent decline in commodity prices. This conservative and disciplined approach demonstrates the Company's flexibility, focus on returns and prudent risk management to protect its balance sheet.
Even if it's not a huge purchase, we think it was good to see that Craig Bryksa, the President of Crescent Point...
(Bloomberg) -- Canadian markets were battered on all fronts as the collapse in oil sent shockwaves through a country with one of the biggest exposures to the commodity among the Group of Seven.The S&P/TSX Composite Index plunged 10.3%, wiping out $218 billion in market value in the biggest one-day drop since 1987. The loonie also slumped and government bond yields plunged to fresh record lows as investor pessimism deepened for an economy that barely eked out any growth in the fourth quarter and is already grappling with the coronavirus.Oil and gas stocks plummeted with Meg Energy Corp. tumbling 56%, Cenovus Energy Inc. dropping 52% and Crescent Point Energy Corp. slipping 43%. Only one stock was in the green -- Dollarama Inc., which gained 1.7%.The slump in oil will exact another heavy toll on the natural resource-dependent country, which generates about 9% of its gross domestic product from energy and has the biggest exposure to the sector on its stock market at 15%.“The oil price crash will do irreparable damage to the Canadian economy and stock market,” said Ed Moya, a senior market analyst at Oanda Corp. in New York. “Canadians will have to brace for lower prices for the foreseeable future and the oil sector will have to consolidate. Even when virus fears ease, the oil-dependent Canadian economy snapback rally will lag their peers,” he said.The loonie weakened by about 1.9% against the greenback as of 4:14 p.m., the most since June 2016. West Texas Intermediate, the North American benchmark, was down 25%, the biggest descent since 1991, after tumbling as much as 34%.“The Canadian dollar is embattled with risks to already weak economic growth coming from all angles,” Simon Harvey a London-based market analyst at Monex Europe Ltd. and Monex Canada Inc., said by email. “Markets are coming to the realization that rate cuts by the Bank of Canada will soon lose their effectiveness on supporting the economy, especially with the latest risk of a lower oil price for longer.”Further FallsHarvey sees the loonie falling further away from the C$1.30 area if the oil-price rout is sustained while Bipan Rai, North American head of FX strategy at Canadian Imperial Bank of Commerce expects the C$1.40 to breached in the the next two quarters.The loonie “needs to weaken further given the high degree of oil exports as a percentage of Canada’s goods exports,” Rai said. U.S. dollar “bulls may require some patience as price action is overbought, but ‘buy the dip’ is still the right strategy for” the dollar-loonie currency pair.With the Canadian dollar’s correlation to oil prices, it’s bound to keep weakening.“The currencies of any country for which the oil sector is a significant growth generator are having an awful day and won’t stabilize until oil finds a bottom,” said Kit Juckes, a strategist at Societe Generale SA, said in an email Monday.The loonie “is likely to underperform the Australia and New Zealand dollars for example, as long as oil prices are falling.”The yield on Canada’s 10-year benchmark fell to as low as 0.225% on Monday and the five-year note hit 0.276%, according to Bloomberg data. Traders are now betting on the Bank of Canada, which last week lowered its policy rate to 1.25%, to cut another 50 basis points by its next scheduled meeting in April and another 25 basis points by July.(Updates throughout with stock market close, market prices.)To contact the reporters on this story: Jacqueline Thorpe in Toronto at firstname.lastname@example.org;Divya Balji in Toronto at email@example.com;Susanne Barton in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Derek Decloet at email@example.com, Jacqueline ThorpeFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Crescent...
Crescent Point (CPG) delivered earnings and revenue surprises of 0.00% and -4.57%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is pleased to announce its operating and financial results for the year ended December 31, 2019.
Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is pleased to announce the Toronto Stock Exchange ("TSX") has accepted its notice to implement a normal course issuer bid ("NCIB") to purchase, for cancellation, up to 36,884,438 common shares, or seven percent of the Company's public float, as at February 28, 2020. The NCIB is scheduled to commence on March 9, 2020 and is due to expire on March 8, 2021.
Crescent Point Energy Corp. ("Crescent Point") (TSX and NYSE: CPG) announces its Board of Directors has declared a quarterly cash dividend of CDN $0.01 per share to be paid on April 1, 2020 for shareholders of record on March 15, 2020.
Crescent Point (CPG) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) plans to report its year-end 2019 financial and operating results and reserves via press release prior to the opening of markets on Thursday, March 5, 2020. Crescent Point's management will host a conference call at 10:00 a.m. MT (12:00 p.m. ET) the same day to discuss the results and outlook for the Company.
North American producers are forced to focus on cleaning up their balance sheets instead of spending on drilling more as the industry struggles with volatile commodity prices amid a glut of shale oil and global trade uncertainties. Alberta-based producers, such as Crescent, have also been hit by production curtailments due to a bottleneck in pipeline capacity crippling transportation and leading to record discounts on oil.