RE:CPG stock’s performance.juveballclub123 wrote: Oil price vs. CPG stock’s performance.
Opinion: SELL
A year ago, WTI oil traded for close to US$43 per barrel. At the time of posting, it is selling for about US$53, representing a gain of better than 25%.
Crescent Point’s stock, however, is actually down from $18 at the beginning of December 2016 to about $15 per share today.
What’s going on?
Crescent Point’s stock slide appears less confusing when we look at the production profile that is falling despised its recent several acquisitions that have depleated its balance sheet and raising fears of more share dilutions to come
One of the main reasons the Share Price is lower with higher oil price is the dividend cut that took place a year ago. It was the second cut in a short time. The cut one year ago reduced the monthly
dividend payment from .10 down to .03 per share monthly.