TSX:CPG - Post Discussion
Post by
retiredcf on Feb 29, 2024 9:21am
RBC
February 29, 2024
Crescent Point Energy Corp.
Q4/23 Quick Take: AFFO Ahead of Street
TSX: CPG | CAD 9.69 | Outperform | Price Target CAD 13.00
Sentiment: Neutral
CPG's Q4/23 results were slightly better than the Street and released in tandem with the company's update reserve book, which was up across all categories reflective of the Hammerhead transaction completed in 2023. CPG's 2024 budget remains unchanged with a view to continued returns to shareholders and Montney development; the company repurchased and cancelled roughly $350mm in CPG stock (6% of float) during 2023. We expect 2024 to be operationally focused with minimal M&A, reflective of an active 2023 on the deal front.
Conference Call:
• Time: 10:00 am MT on February 29 • Dial-in: 1-800-390-0605
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