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Globe says Crescent Point cash flow improving

[PUNJABI]

Crescent Point Energy Corp (C:CPG)
Shares Issued 581,678,041
Last Close 7/14/2021 $4.64

Thursday July 15 2021 - In the News

The Globe and Mail reports in its Thursday, July 15, edition that CIBC analysts led by Dennis Fong boosted their share target for Crescent Point Energy ($4.64) to $9 from $7. The Globe's Darcy Keith writes that CIBC analysts say in a note: "The second quarter showed continued strength in commodities as global inventories reached pre-pandemic levels aided primarily by the recovery of demand, discipline from OPEC+ countries to production quotas and continued focus from producers to maintain rather than grow production levels. While we have seen increases in cash flows from the strength in commodities, partial offsetting factors include impacts from hedging, higher royalties and cash taxes, as well as the impact of turnarounds. CIBC expects West Texas Intermediate crude oil to average about $65 (U.S.) both this year and in 2022, which is higher than earlier estimates and accounts for much of the boost to the price targets." The Globe reported on March 26 that Desjardins Securities analyst Chris MacCulloch rated Crescent Point "buy." It was then worth $5.01. The Globe reported on June 11 that RBC boosted its recommendation for Crescent Point to "outperform" from "sector perform." It was then worth $5.57.

[Bpultra]

https://www.baystreet.ca/quotedata/CPG-CA/analyst/ When you look at this ... you say wow .. the insiders have bought... but these are warrants they gave themselves.... look over the last year.... now tell me again what our div is and also tell me again how much of the NCIB they have done ???   Insider Summary Last 3 Months 75,985 

[Moemoney42]

Correct me if I'm wrong but aren't those numbers part and parcel of their "compensation packages" (partly awarded in shares).. what I focus on is "0" sells..  thats even more important to me.. JMHO

[Bpultra]

Your missing the point ... they said they would start a NCIB program in lue of DIV... for two years now.... NO div.... NO NCIB  but thier warrants increased ... how can you sit there and think that is ok?   Why not give them another 5 mill of warrants ?  why do you think they are hated they way they are .... yes others are down but CPG is the dog of the bunch  ===========

[bonjovi501]

Bpultra.....is right CPG is not a company of truth but a company of deceit. I would not be surprised if CPG did a bought deal anytime soon to screw us shareholders even further and issue millions more shares and dilute us even further yet. This company used to be top notch in their glory days until the ponzi scheme crumbled. 

[Bpultra]

================= when you have insiders who do not care about the shareholders ... Mr.Market sees this ...and shorts see this ,, and all the naked short sellers see this .... so you add all this up . then the crooked banksters .. and you get a stock like CPG ... just look at how crooked this game is  https://www.youtube.com/watch?v=Gq_SW9Hpzag

[TrendSwapper]

Not sure about you, but I'm sitting on a 200% return and confident this will turn into %400 in the next year. Thanks Mr Market!

[CdnOilObserver]

TW- you caught the bottom - good for you.

[Bpultra]

===================== in one account   30,000 at 88 cents .. still have 20,000 .. seems you know how to do math so I will let you figure it out ... you are missing the point... 

[Moemoney42]

BP, I've posted in the past that they did purchase ~2 million shares in Q1-20 under the NCIB the last time you brought up this subject.. just before all h3ll broke out with the covid issue and oil prices went negative.. I will cut them some slack for this ~2 year period.. but like you, my patience only goes so far.. yours is obviously shorter than mine.. nothing wrong with that.. as you can

[CdnOilObserver]

Nuttall posted yesterday, and this I agree to - if at oil at its current price, today still WTI Oil over $70USD - if Canadian companies do not show NCIB's and dividend increases in a meaningful and significant way - shares prices will be decimated. Currently, WTI is at $72USD and CPG share price at $4.63 - if this company is not 'backing up the truck' and buying back it's own

[darb]

As another "glass half full" guy, I believe CPG is holding off to buy back the shares issued to Shell.

[CdnOilObserver]

50,000,000 shares?  Really?  We can only hope - that would amount to a NCIB of almost 10% - that is larger that what was approved by regulators....

[TrendSwapper]

I think BPultra and his entourage are just paid bathers. Nothing constructive to say and all he does is slam the company. He has alterior motives...

[Bpultra]

======== OH yeah hear we go.... you say something negative and you are a basher... well I probably own way more shares than you... in fact I probably own more than some of the insiders... so when you hear something that goes against your thinking .. just don't think the person is a bashers... or bather...  I have also owned this I am betting way before you...  if you are so right ...

[CdnOilObserver]

I hate the fact that I own more shares than some of the Senior Management and Board of Directors...  really... I have always said that bonuses and compensation must be aligned with Shareholder Interests, and based on high water mark for the share price... Bonus the management when the share gets back to the 3 year average price.... 

[TrendSwapper]

The problem is a shift of policy and investment away from fossil fuels. All O&G companies are in the same boat; look around. CPG is now profitable at $45+ US oil and making crazy cash. Fund managers won't put their clients money into an industry that is at the beginning of the end. There is no appetite for O&G, so management better take some of this cash and move into renewables if

[CdnOilObserver]

I completely agree with this statement. Oil and Gas is deep value, and will only be attractive when the rate of return equals and exceeds the risk of the investment.  An investment into a mid-cap energy producer is now percieved to be high risk and off-side with the ESG movement. However, I belive this whole ESG is a load of cr@p - there are not enough mining projects to produce the

[TrendSwapper]

Agreed, and that's why I'm still here and bullish. The world will get a wake up call once existing, developed assets are depleted and next to no money has gone into exploration and new development. A major supply shock is going to hit in the world in the next couple of years, and there will be nothing OPEC can do to stop it, nor will they want to.

[Bpultra]

Exactly!!! Then and only then will the shorters run for cover and the hedge funds bring ma and pa's money back to this stock.... like when it was $40 and $30 and $20 .... not $10  $5  $1  or $4

[Tommy123]

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[cahclick]

  Yes, the ESG crew will be off their high horses and lined up at the trough as soon as there are high dividends to be had. Its gonna happen as long as WTI holds up jmo glts  

[Tommy123]

This post has been removed in accordance with Community Policy

[NonCredibleSrc]

Hmm - huge cash is great!  perhaps if the funding is available now is an appropriate time to diversify!?!?! Move away from 'just' oil and gas - purchase a proven or proving renewables company and bring it into the CPG portfolio. Fund managers - at least many - are touting 'ethical' investing - investing that adheres to social, political, etc ideals such as human equality

[Anschutz]

Nope not falling for it. This idea of getting energy companies to move investment into renewables is a divestment tactic of the enviro scam. There is nothing companies can do to bring back investment other than through demonstration of creating wealth for shareholders.  All companies that have tried to appease the woke green nutbars have failed to attract investment.  The reality is the

[Dogsbreakfast4U]

The problem with CPG is that it has demonstrated time and time again that shareholders is the least of its concern. The primary goal of the senior management is to keep the company going for as long as possible (hence the latest large acquisition and shareholder dilution) while raking in millions of $ in salary and benefits. They will all ultimately pull the plug with a golden parachutes and end

[CdnOilObserver]

"Renewables" like wind and solar - takes billions in government subsidies to get them to break even...  they are not profitable without them, and/or focused tax breaks... We are decades, many decades away from renewables replacing mainstream energy sources.

[Tommy123]

This post has been removed in accordance with Community Policy

[2021Gamble]

@Tommy123, be realistic.  Oil and Gas production can't "stop".  Even a Tesla drives on Rubber tires; Asphalt is made form Oil, and everywhere I drive 6" of new asphalt is being rolled down new on highways, new roundabouts, and even for the ever growing number of bike lanes. What is the 401 being expanded to? 6 lanes each direction?  Oil. "The world is

[Tommy123]

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[2021Gamble]

I'm not sure who you mean by "most people"..... Alberta would be bankrupt without the industry The Cdn Gov't would be in desperation without being able to tax gasoline the way they currently do. And the alternative....US Shale....ya, I don't see that making many ESG people happy either....

[Tommy123]

This post has been removed in accordance with Community Policy

[CdnOilObserver]

The only thing worse than a socialist - is a rich socialist who has never had to work hard and take risks to build wealth for his family.... Where do you think the Trudeau Family Trust built it's wealth from - Oil & Gas industry in Quebec, and a large chain of gas stations - the family business was stared by Pierre Trudeau's father - he was an oil & gas guy. What Justin is good

[Anschutz]

Bwahahahahaha.... you made me snort my coffee!

[Bpultra]

DJ Crescent Point Energy Corp Price Target Raised to C$9.00/Share From C$7.00 by CIBC World Markets Wednesday, July 14, 2021, 12:18 PM ET   Ratings actions from Baystreet: https://www.baystreet.ca (END) Dow Jones Newswires July 14, 2021 12:18 ET (16:18 GMT) DJ Crescent Point Energy Is Maintained at Buy by Tudor Pickering & Holt Thursday, July 8, 2021, 12:17 PM