CPG Stock Summary and Trading Ideas (Veren | NYSE:CPG)

hVeren Inc formerly Crescent Point Energy Corp is an independent exploration and production company. It is engaged in acquiring, developing, and holding interests in petroleum and natural gas properties and assets related thereto through a general partnership and wholly-owned subsidiaries. The company generates maximum revenue from Oil and gas sales.

Veren trades on the NYSE stock market under the symbol CPG.

As of May 14, 2024, CPG stock price declined to $8.59 with 4,163,860 million shares trading.

CPG has a beta of 0.38, meaning it tends to be less sensitive to market movements. CPG has a correlation of 0.02 to the broad based SPY ETF.

CPG has a market cap of $5.33 billion. This is considered a Mid Cap stock.

Last quarter Veren reported $758 million in Revenue and $.22 earnings per share. This beat revenue expectation by $24 million and missed earnings estimates by -$.02.

In the last 3 years, CPG stock traded as high as $10.96 and as low as $2.75.

The top ETF exchange traded funds that CPG belongs to (by Net Assets): DISV, FCG, DFIC, DFIS, DFAX.

CPG has outperformed the market in the last year with a return of +33.0%, while the SPY ETF gained +28.8%. In the last 3 month period, CPG beat the market returning +37.1%, while SPY returned +6.2%. However, in the most recent 2 weeks CPG has underperformed the stock market by returning -6.9%, while SPY returned +2.6%.

CPG support price is $8.40 and resistance is $8.80 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CPG stock will trade within this expected range on the day.