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Why Cresent Point Energy (CPG) Stock Is Higher Today

Stocks in this article: CPG

NEW YORK (TheStreet) -- Shares of Cresent Point Energy Corp  (CPG) are up 2.30% to $46.61 on Friday.

The Canadian oil and gas company announced it is raising its 2014 guidance for production and funds flow from operations.  

Cresent's average daily production in 2014 is expected to increase to 135,500 barrels of oil equivalent, otherwise referred to as boe/d from 134,000 boe/d.

Must Read: Warren Buffett's 25 Favorite Growth Stocks

Exit production rate for 2014 is expected to increase to 148,000 boe/d from 145,000 boe/d. 

Crescent Point's funds flow from operations is expected to increase to $2.45 billion from $2.40 billion.

Separately, TheStreet Ratings team rates CRESCENT POINT ENERGY CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate CRESCENT POINT ENERGY CORP (CPG) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, good cash flow from operations, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • The revenue growth came in higher than the industry average of 3.1%. Since the same quarter one year prior, revenues rose by 17.0%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Oil, Gas & Consumable Fuels industry. The net income increased by 2016.3% when compared to the same quarter one year prior, rising from -$1.61 million to $30.89 million.
  • Net operating cash flow has increased to $574.14 million or 25.01% when compared to the same quarter last year. In addition, CRESCENT POINT ENERGY CORP has also modestly surpassed the industry average cash flow growth rate of 17.43%.
  • The gross profit margin for CRESCENT POINT ENERGY CORP is currently very high, coming in at 70.56%. It has increased from the same quarter the previous year. Regardless of the strong results of the gross profit margin, the net profit margin of 4.71% trails the industry average.
  • CPG's debt-to-equity ratio is very low at 0.24 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Even though the company has a strong debt-to-equity ratio, the quick ratio of 0.34 is very weak and demonstrates a lack of ability to pay short-term obligations.
  • You can view the full analysis from the report here: CPG Ratings Report
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