Zacks likes CPGHere is Zacks conclusion on CPG from June 12:
"These figures are just a handful of the metrics value investors tend to look at, but they help show that Crescent Point Energy is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, CPG feels like a great value stock at the moment."
Full article: https://www.zacks.com/stock/news/428405/are-investors-undervaluing-crescent-point-energy-cpg-right-now?cid=CS-SEEKAPH-FT-428405
S&P, in a report from June 22, rates CPG as a Hold with a target of C$5 based on the following:
- Canadian oil differentials may turn unfavourable
- negative regulatory announcements
- difficulty in selling non-core assets
- weaker effects from cost-cutting
They estimate 2019 earnings at C$.45/share meaning a P/E of 9.75, which is pretty cheap. The low estimate for 2019 is C$.23/share meaning a P/E of 19. Still reasonable.
S&P's estimate is based on WTI $65 for the year. Current year average for WTI is around $60 so earnings may not meet the consensus estimate if present trends continue. If OPEC+ announces an increase to cuts and/or a China/US trade deal happens, oil will rise along with CPG earnings.
Oil would have to decline below $50 and stay there for CPG's earnings to take a huge hit.
Overall it appears that CPG will be profitable this year. Those asset sales we've been waiting for would spike the shares but given the sorry state of Canadian oil, I wouldn't expect any news for quite a while.