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.
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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: