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CPG:CC - Crescent Point Energy: Hedges Will Roll Off In 2023 Priced At 3x FCF Dividend Yield To Increase
Crescent Point Energy Corp.
Crescent Point Energy is priced at 3x its 2023 free cash flows.
Crescent Point will reach a near-term debt target of $1.3 billion by Q3 2022. At that point, Crescent will upwards revise its 30% excess free cash flow capital allocation strategy.
Crescent has a 2% yield, but this will be meaningfully increased within 2 quarters.
The same as I did two months ago, I rate CPG stock a buy.