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Veren Inc 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

Comment by BigJoe778on Apr 22, 2022 2:24pm
226 Views
Post# 34624623

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:CRESCENT POINT CPG $20/SHARE = 2022

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:CRESCENT POINT CPG $20/SHARE = 2022Last time CPG saw $20/share(2016) the company was basically in the middle of falling off a cliff. Dividend had recently been reduced from $0.23/month to $0.03/month to $0.03/quarter. Share dilution was a huge problem and only got worse in the months/years to follow. The market has not forgotten this and believe me it's gonna take a pile more work before it does forget it. At the current price and rate of NCIB, they're looking at roughly 4 years before the share count is back to 2016 levels provided there's no further dilution for acquisitions. Let's not forget they have a history of that as well with many outside of Kaybob being terrible decisions. It's not like they can magically surprise this with excess share buybacks as they have to state thier intent of how much before they execute. To date over the last couple of years they've even failed to buyback what they were allowed too. Do I see potential in this company?.....yes I do as I'm currently heavily invested. Do I see my investment more than doubling in 2022?......I flat out don't think there's any chance with the way the stock is currently trading, the conservative approach the company is taking with shareholder returns and the overall market dislike for the company(this is more than obvious on most trading days as it lags its peers on the way up and exceeds its peers on the way down). At the end of the day if we hit $12 by end of year that's roughly a 20% from the 52 week high. I'll certainly be happy with a 20% return on my investment in the next 8 months. Who wouldn't?
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