CPG Stock Recent News

Crescent Point Energy management completed the Hammerhead acquisition to improve company finances and grow more cheaply than organic growth. The value of 2P reserves comes for free. Crescent Point Energy faced financial stress due to debt and drop in cash flow when oil prices dropped back in 2015. It's now a far better company. Management is prioritizing debt payment and making accretive acquisitions like the Hammerhead acquisition to improve the company's financial situation and future prospects.

Crescent Point Energy has announced its acquisition of Hammerhead Energy for approximately $2.55 billion. The purchase will enhance Crescent Point's drilling inventory profile. We tell you why we think the Data suggests that we look elsewhere for returns.

Crescent Point Energy Corp (TSX:CPG) stock tumbled Monday after the company announced plans to acquire Hammerhead Energy in a cash and stock deal.  The move will create the seventh-largest exploration and production company in Canada with expected production of more than 200,000 barrels of oil equivalent per day in 2024.

Crescent Point Energy Corporation (NYSE:CPG ) Q3 2023 Earnings Conference Call November 2, 2023 12:00 PM ET Company Participants Craig Bryksa - President & CEO Kenneth Lamont - CFO Shant Madian - VP, Capital Markets Ryan Gritzfeldt - COO Conference Call Participants Amir Arif - ATB Capital Markets Travis Wood - National Bank Financial Operator Good morning, ladies and gentlemen. My name is John, and I will be your operator for Crescent Point Energy's Third Quarter 2023 Conference Call.

Once one of the best-performing sectors in the economy, on a three-year basis, energy stocks are now beginning to show some signs of weakness due to structural cracks. On a year-to-date basis, this former champion has lagged the S&P 500 by 8.0%, as judged by the Energy Select Sector SPDR Fund NYSEARCA: XLE.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Crescent Point Energy Corp. has announced the disposition of its U.S. operations, focusing solely on Canadian operations. The company's reduced debt allows it to wait for a cyclical recovery in the industry before resuming drilling and completion activities. The company's strong balance sheet and optimization efforts are expected to increase profitability and lower the breakeven point over time.

Crescent Point Energy said on Thursday it will sell its North Dakota assets to a private operator for $500 million in cash, as the Canadian oil and gas producer looks to repay its debt.

Crescent Point Energy (CPG) came out with quarterly earnings of $0.28 per share, missing the Zacks Consensus Estimate of $0.30 per share. This compares to earnings of $0.37 per share a year ago.

Here is how Crescent Point Energy (CPG) and MPLX LP (MPLX) have performed compared to their sector so far this year.