The stock of Crescent Point Energy Corp (TSE:CPG) gapped down by $0.04 today and has $15.04 target or 6.00% below today’s $16.00 share price. The 5 months technical chart setup indicates high risk for the $8.59 billion company. The gap down was reported on Nov, 25 by Barchart.com. If the $15.04 price target is reached, the company will be worth $515.40 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 612,101 shares traded hands. Crescent Point Energy Corp (TSE:CPG) has declined 23.36% since April 21, 2016 and is downtrending. It has underperformed by 28.77% the S&P500.
Crescent Point Energy Corp (TSE:CPG) Ratings Coverage
Out of 9 analysts covering Crescent Point Energy (TSE:CPG), 7 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 78% are positive. Crescent Point Energy has been the topic of 53 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Friday, August 14, the company rating was maintained by Canaccord Genuity. The firm earned “Equal Weight” rating on Wednesday, July 22 by Barclays Capital. IBC maintained the stock with “Sector Outperform” rating in Wednesday, September 21 report. Scotia Capital maintained the shares of CPG in a report on Friday, November 11 with “Outperform” rating. As per Monday, August 15, the company rating was downgraded by TD Securities. The rating was maintained by RBC Capital Markets on Friday, January 8 with “Sector Perform”. UBS downgraded Crescent Point Energy Corp (TSE:CPG) on Friday, August 14 to “Neutral” rating. The firm earned “” rating on Tuesday, June 28 by Desjardins Securities. Desjardins Securities maintained the shares of CPG in a report on Wednesday, September 21 with “Buy” rating. The firm has “Sector Perform” rating given on Wednesday, September 21 by RBC Capital Markets.
More notable recent Crescent Point Energy Corp (TSE:CPG) news were published by: Fool.ca which released: “Why Crescent Point Energy Corp. Could Soar” on November 14, 2016, also Forbes.com with their article: “Crescent Point Energy (CPG) Shares Enter Oversold Territory” published on September 14, 2016, Fool.ca published: “Should You Buy Encana Corp. or Crescent Point Energy Corp.?” on October 20, 2016. More interesting news about Crescent Point Energy Corp (TSE:CPG) were released by: Theglobeandmail.com and their article: “Crescent Point Energy posts smaller quarterly loss” published on November 10, 2016 as well as Business.Financialpost.com‘s news article titled: “Crescent Point Energy Corp buys up Saskatchewan land, posts smaller loss as …” with publication date: August 11, 2016.
Crescent Point Energy Corp. is a Canada gas and oil exploration, development and production company. The company has a market cap of $8.59 billion. The Firm is an gas and oil producer with assets consisting of light and medium oil and natural gas reserves in Western Canada and the United States. It currently has negative earnings. The Company’s primary assets are the shares in Crescent Point Holdings Inc. (CPHI), shares in Crescent Point U.S.
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