Crescent Point Energy Corp. (CPG, $15.07, SO, $27.50) – Bloomberg Article Indicates Potential Activist Investor Presence in Stock.
- Michael Bellusci and Joshua Fineman of Bloomberg reported Crescent Point may be targeted by a U.S.-based activist
investor. The article cites a publication from DealReporter, which itself cites three industry sources. CPG has not commented on the matter. We have maintained a positive stance on CPG based on the relative valuation of the company’s asset portfolio and future growth potential.
- Last Friday, the stock was up over 6% intraday in response to the article and contrasted with generally neutral equity performances among Canadian competitors in the session. Prior to last Friday’s trading session, the stock lagged competitors with a YTD equity return of -17%.