RE:RE:CRESCENT POINT CPG $20/SHARE = 2022I read it as CPG 35% hedged for 2022. (44,750 b/p/d out of approximately 130,000 b/p/d). Where do you have the rates that the hedges are based on?
Let's also be aware that they're going to deliver over a billion dollars of free cash in 2022. It's totally possible for CPG to be trading at $20 this year. Josef Schachter says they'll be a $20 stock after the recession is over but he's about the worst energy analyst out there. Too bad, his clever bow tie and massive binders made him a bit quirky.
(https://www.crescentpointenergy.com/invest/hedges)
BigJoe778 wrote: Based on what ? The fact that they have 50% of their production hedged at $60-80/barrel or that they have 570 million outstanding shares. There's not a chance in hell this stock reaches $20/share in 2022. Longer term with sustained higher oil prices, better hedges and more share buybacks/increased dividends then it's definitely a possibility but I'd bet every share I own that it doesn't happen this year.