The stock of Crescent Point Energy Corp (TSE:CPG) gapped down by $0.31 today and has $14.73 target or 4.00% below today’s $15.34 share price. The 5 months technical chart setup indicates high risk for the $8.20 billion company. The gap down was reported on Nov, 29 by Barchart.com. If the $14.73 price target is reached, the company will be worth $328.00M 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 795,005 shares traded hands. Crescent Point Energy Corp (TSE:CPG) has declined 25.71% since April 25, 2016 and is downtrending. It has underperformed by 30.97% 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. $38 is the highest target while $5.25 is the lowest. The $23.33 average target is 52.09% above today’s ($15.34) stock price. Crescent Point Energy has been the topic of 53 analyst reports since July 21, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained Crescent Point Energy Corp (TSE:CPG) on Wednesday, September 21 with “Sector Perform” rating. On Tuesday, June 28 the stock rating was maintained by Desjardins Securities with “”. The stock of Crescent Point Energy Corp (TSE:CPG) has “Equal Weight” rating given on Wednesday, July 22 by Barclays Capital. Scotia Capital maintained Crescent Point Energy Corp (TSE:CPG) on Friday, November 11 with “Outperform” rating. The firm has “Outperform” rating given on Friday, November 11 by National Bank Canada. Canaccord Genuity maintained it with “Buy” rating and $25 target price in Friday, August 14 report. The stock has “Sector Outperform” rating given by IBC on Wednesday, September 21. TD Securities downgraded the stock to “Buy” rating in Monday, August 15 report. The rating was downgraded by UBS to “Neutral” on Friday, August 14. As per Friday, January 8, the company rating was maintained by RBC Capital Markets.
More notable recent Crescent Point Energy Corp (TSE:CPG) news were published by: Fool.ca which released: “Crescent Point Energy Corp. Is Impossible to Ignore at These Prices” on November 28, 2016, also Fool.ca with their article: “Why Crescent Point Energy Corp. Could Soar” published on November 14, 2016, Forbes.com published: “Crescent Point Energy (CPG) Shares Enter Oversold Territory” on September 14, 2016. More interesting news about Crescent Point Energy Corp (TSE:CPG) were released by: Fool.ca and their article: “Should You Buy Encana Corp. or Crescent Point Energy Corp.?” published on October 20, 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 $8.20 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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