Crescent’s production soars

Article Excerpt

CRESCENT POINT ENERGY CORP. $43.50 (Toronto symbol CPG; Shares outstanding: 238.7 million; Market cap: $12.2 billion; TSINetwork Rating: Extra Risk; Dividend yield: 6.3%; www.crescentpointenergy.com) produces oil and natural gas in western Canada. The shares yield a high 6.3%. In the three months ended March 31, 2011, Crescent Point’s cash flow per share rose 14.6%, to $1.10 from $0.96. Higher oil prices and higher production were the main reasons for the increased cash flow. Production rose 34.8%, to 75,574 barrels of oil equivalent (including natural gas) in the latest quarter, from 56,061 barrels a year earlier. Crescent Point is still a buy. buy…