Crescent Point output rises

Article Excerpt

CRESCENT POINT ENERGY $9.23 (Toronto symbol CPG; Shares outstanding: 545.8 million; Market cap: $5.0 billion; TSINetwork Rating: Extra Risk; Dividend yield: 3.9%; www. produces oil and natural gas in Western Canada. It is now focused on its Bakken light oil development in southeastern Saskatchewan. In the three months ended December 31, 2017, the company’s daily output rose 8.4%, to an average 178,975 barrels of oil equivalent from 165,097. Crescent Point’s cash flow improved 17.2%, to $494.7 million, or $0.90 a share, from $422.0 million, or $0.77, a year earlier. On December 31, 2017, Crescent Point’s long-term debt was $4.0 billion, or a high 80% of its market cap. The stock trades at just 2.7 times the company’s forecast 2018 cash flow per share of $3.38. Those shares yield 3.9%. Crescent Point Energy is a buy. buy…

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