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Introduction
Thanks to the booming oil and gas prices of 2022, Crescent Point Energy (CPG) was able to see their net debt target achieved that, as my previous article discussed, marked an important milestone for
Crescent Point Energy: Autopilot In 2023, Big Things Possibly Coming In 2024
Summary
- Crescent Point Energy achieved their net debt target earlier in 2022 thanks to the booming oil and gas prices.
- As a result, they are now providing higher shareholder returns via share buybacks and special dividends.
- Subsequently, the third quarter saw another set of very impressive results despite oil prices materially softening versus the second quarter.
- When looking ahead, their guidance sees 2023 on autopilot but thankfully, there are big things possibly coming in 2024 for ever higher shareholder returns.
- Even with lower oil prices, their shares are still trading with a very high, near 20% free cash flow yield and thus, I believe that maintaining my buy rating is appropriate.
I primarily focus on income investments, as well as deep value and contrarian opportunities.
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