Streetbeat News

CPG

Veren Inc.

http://www.crescentpointenergy.com/

CEO

Craig Stephen Bryksa

Employees

2,021

Industry

Crude Petroleum Extraction

Crescent Point Energy Corp. is an oil and gas company based in Calgary, Alberta, Canada. The company focuses primarily on light oil production in southern Saskatchewan and central Alberta. Since inception in 2001, Crescent Point has significantly increased its production.

Open

8.57

Mkt cap

5.3B

Volume

4.3M

High

8.66

P/E Ratio

23.86

52-wk high

9.28

Low

8.52

Div yield

0.03

52-wk low

6.03

Crescent Point Energy Corp. has officially changed its name to Veren Inc., with shareholder approval at its AGM on May 10, 2024. Shares of Veren are set to trade under the new symbol 'VRN' on the TSX and NYSE starting around May 15, 2024. A new website will also be launched to reflect the change.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 8:17 pm

Crescent Point Energy plans for FY24 include capital expenditures of $1.4B-$1.5B, aiming to generate excess cash flow of $875M.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 10:42 am

Crescent Point Energy (CPG) reported Q1 2024 earnings of $0.22 per share, missing the consensus estimate of $0.35 by 36.29%. Quarterly sales were $821.990M, below the $1.003B estimate, marking an 18.05% miss but a 21.63% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 10:38 am

BMO Capital analyst Jeremy Mccrea has maintained an Outperform rating on Crescent Point Energy (NYSE:CPG) and increased the price target from $13 to $14.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 3:26 pm

Crescent Point Energy (CPG) has agreed to sell certain non-core assets in Saskatchewan, including Flat Lake and Battrum, to Saturn for $600 million in cash. These assets were expected to produce 13,500 boe/d, primarily oil, generating $210 million in net operating income over the next 12 months. Crescent Point had allocated minimal development capital to these assets for the remainder of 2024.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 8:19 am

Crescent Point Energy Corp. (CPG) has received approval from the Toronto Stock Exchange to initiate a normal course issuer bid (NCIB) to buy back up to 61,663,522 common shares, or 10% of its public float, starting March 11, 2024, and ending March 10, 2025. The buyback will occur through the TSX, NYSE, and alternative trading systems, potentially at market price or a discount via private agreement. An automatic purchase plan will be used during blackout periods. As of February 29, 2024, Crescent Point has a public float of 616,635,222 shares. The company aims to enhance shareholder value through share repurchases as part of its capital return framework.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 1:13 pm

Crescent Point Energy (NYSE:CPG) reported Q4 adjusted EPS of $0.27, missing the $0.28 estimate, and sales of $695.58M, missing the $740.12M estimate. This represents a decrease in both earnings and sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 11:38 am

Numerous companies are scheduled to report their earnings on February 29, 2024, covering a wide range of industries from technology to healthcare. This includes both expected quarterly profits and losses, with significant revenues anticipated for some. The diversity of sectors represented, from energy to financial services, highlights the broad economic implications of these reports.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 10:15 am

Crescent Point Energy (NYSE:CPG) is scheduled to release its quarterly earnings report on February 29, 2024, with analysts predicting an EPS of $0.28. The company's past earnings performance shows a mix of beats and misses, with the share price reacting variably. Shares were trading at $7.14 as of February 27, reflecting a slight decline over the last year. Investors are looking for positive guidance for the next quarter beyond the EPS figures.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 3:01 pm

Crescent Point Energy has announced its intention to raise its quarterly base dividend by 15% annually, from $0.299 to $0.46.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 2:16 pm

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