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Veren Inc T.CPG


Primary Symbol: T.VRN Alternate Symbol(s):  VRN

Veren Inc., formerly Crescent Point Energy Corp., is a Canada-based oil and gas exploration company. The Company is engaged in the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. Its crude oil and natural gas properties and related assets are located in the provinces of Saskatchewan, Alberta and the United States. Its operating areas include Viewfield area of southeastern Saskatchewan; Shaunavon resource play, which is located in southwest Saskatchewan; Flat Lake play, which is a multi-zone resource play located in southeast Saskatchewan; Kaybob Duvernay play, which is situated in the heart of the condensate rich fairway, Central Alberta, and Montney assets in Alberta. Its wholly owned subsidiaries include Crescent Point Resources Partnership, Crescent Point Holdings Ltd. and Crescent Point U.S. Holdings Corp.


TSX:VRN - Post by User

Bullboard Posts
Comment by jwallingfon Apr 02, 2019 2:59pm
93 Views
Post# 29571754

RE:Do I have chance to buy CPG.TO at 3.50 this summer?

RE:Do I have chance to buy CPG.TO at 3.50 this summer?Anything's possible upkick. But it doesn't seem likely unless oil crashes. Current demand for oil is increasing as seen in the futures market, which is in backwardation. OPEC+ is exceeding production cutbacks, Vz output keeps falling, Iran sanctions will perhaps keep more oil in the ground. The China/US trade battle will probably end friendly. So a lot of factors suggest WTI stays at least in the $55-$65 range. As oil companies announce better Q1 results, the sector should rise. If you're looking for a quick trade I have no clue as to an entry point. For a longer term investment, buying CPG at today's price is going to pay off. That might take a month. Or it might take two years. CPG is cheap on any number of metrics: P/CF 1.31, P/S .71, P/Tangible Book .36, EBITDA/share C$3.47 FY18. The P/CF ratio really shows the degree to which CPG is extremely undervalued. A more normal range would be 3-5x so, even at 3, CPG should be trading around C$9. With WTI up about 35% this year and looking like it will stay there, CPG's results should surprise to the upside. 
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