Should I buy Crescent Point Energy? CPG Stock Research and Analysis Q1 Week 3 JHR 

Should I buy Crescent Point Energy stock? Taking a look at CPG Stock latest valuation update and recent research and analysis in Q1 Week 3 JHR.
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Crescent Point Energy Corp is an independent exploration and production company which engages in acquiring, developing and holding interests in petroleum and natural gas properties. Through general partnerships and wholly-owned subsidiaries, Crescent Point Energy generates most of its revenue from Oil and Gas sales.
Back on December 9th 2022 Crescent Point announced it entered into a purchase and sale agreement to acquire certain Kaybob Duvernay assets from Paramount Resources Ltd worth $375 million. These Assets are adjacent to Crescent Point’s existing land base and further enhance the Company’s scale, high-return drilling inventory and development opportunities within the basin. This acquisition will be funded through existing credit facilities and is expected to close during January 2023. The Assets include approximately 130 net drilling locations across nearly 65,000 net acres of crown land with 90% average working interest and no expiries. The acquired Assets currently produce over 4,000 barrels of oil equivalent per day (50% liquids) and include a gas plant, associated pipelines, water infrastructure and seismic data. This acquisition extends Crescent Point's drilling inventory in play, to over 20 years.
Crescent Point Energy stock known as CPG is up 18.24% over the past 12 months, although it has underperformed its Oil & Gas peers in the last three months and over the past year as well. CPG stock price has increased over both time periods, and the Canadian Energy sector has seen gains of over 23% the past 12 months.
Crescent Point delivered strong operational numbers in 2022 and as a result of the excess cash flow it expects to generate from the newly acquired assets: The Board of Directors has approved a 25 percent increase to the quarterly base dividend to $0.40 per share annually, up from $0.32 per share. This increased base dividend is payable on April 3rd 2023 to shareholders on record at the close of business on March 15th, 2023.
Morningstars’ latest quantitative research report released on January 18th 2023: Gives Crescent Point Energy Corp stock a 3 Star rating, with very high quantitative uncertainty but strong short-term bullish evidence. The report considers CPG stock currently undervalued with an estimated projected 10 percent annual return rate over a 5 year period. CPG Stocks’ fair value price is set at $12.82 per share. CPG stock is currently trading at $9.64 per share and its 52 week range is between $7.25 and $13.74. The current consensus on CPG stock out of 14 analysts is: 10 say ‘buy’ 2 say ‘strong buy’ and 2 analysts say ‘hold’.
Should I buy Crescent Point Energy? CPG Stock Research and Analysis Q1 Week 3 JHR
January 13, 2023 - 04:44pm EST
Written by Jon Paulino for The Jonathan Henry Report RU-vid Channel.
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