Crescent Energy (TSX:CPG) Posts C$21.7Mn Profit In Q1. Worth A Buy?

2 min read | May 12, 2021 12:14 PM EDT | By Raza Naqvi

Crescent Energy (TSX:CPG) Posts C$21.7Mn Profit In Q1. Worth A Buy? — Image source: pan demin, Shutterstock

Crescent Energy (TSX:CPG) Stock Performance

The oil producer, with a market cap of C$ 3 billion and a debt-to-equity (D/E) ratio of 0.86, distributes a quarterly dividend of C$ 0.003. Crescent Energy’s dividend yield, at the moment, stands at 0.197 per cent.

On March 11 this year, Crescent stock touched a fresh 52-week high of C$ 5.86. CPG scrips skyrocketed by 176 per cent in one year and grew 71 per cent year-to-date (YTD).

Crescent Energy Latest Financials

Crescent Energy says that it is committed to combating climate change and, as per its earnings report, it plans to reduce emissions intensity by 50 per cent by year 2025.

The oil producer also expects to generate excess cash flow in the range of C$ 525 million to C$ 650 million in 2021.

Crescent’s adjusted net earnings from operations stood at C$ 95.1 million in Q1 2021, almost double of what it achieved in Q1 2020. Its average selling price also climbed to C$ 58.65 per barrel of oil equivalent (boe) in Q1 2021, up from C$ 42.64 per boe in Q1 2020.

The above constitutes a preliminary view and any interest in stocks should be evaluated further from an investment point of view.

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