Nonsense Something is seriously wrong when CPG trades at almost 6X PBN's value.
Let's do a comparison:
Net debt: $1.5B (CPG), $1.3B (PBN)
Netback: $51 (CPG), $52 (PBN)
Recent production per day: 82,000 (CPG), 40,000 (PBN)
Fund flow for the quarter: $400m (CPG), $185m (PBN).
Market cap: $13.1B (CPG), $2.2B (PBN).
Is CPG worth double PBN? Of course.
Is it worth triple? Probably given the consistency and higher earnings of CPG?
Quadruple? uhhh....that's stretching it.
CPG is now trading 5.97 times the value of PBN. That is nonsense!!!