Crescent Point Energy Corp. (CPG) saw a big move last session, as the company’s shares fell by about 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for CPG, as the stock is now down around 26% since Nov 21.
Although this slump was obviously disappointing, this conventional oil and gas producer has seen 3 positive revisions and its current year earnings consensus has moved higher over the past few weeks. This suggests that the recent slump might be a temporary blip on the radar for CPG. So make sure to keep an eye on this stock going forward to see if yesterday’s price decline is confirmed by more weakness, or if it can rebound in the weeks ahead.
CPG currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Some better-ranked stocks in the Oils-Energy sector include Alon USA Partners, LP (ALDW), Cheniere Energy Partners LP. (CQP) and Murphy USA Inc. (MUSA). All these stocks hold a Zacks Rank #1 (Strong Buy).
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