Crescent Point Energy (TSE:CPG) Upgraded to Outperform at BMO Capital Markets

Crescent Point Energy (TSE:CPG) (NYSE:CPG) was upgraded by research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report issued on Monday, BayStreet.CA reports. The brokerage presently has a C$8.00 target price on the stock, up from their prior target price of C$6.00. BMO Capital Markets’ target price would suggest a potential upside of 28.62% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Raymond James reaffirmed a “market perform” rating and set a C$7.00 price target on shares of Crescent Point Energy in a research report on Wednesday, September 4th. Royal Bank of Canada lifted their price target on Crescent Point Energy from C$6.00 to C$7.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 4th. National Bank Financial reaffirmed an “outperform” rating and set a C$7.50 price target on shares of Crescent Point Energy in a research report on Thursday, September 5th. Finally, Canaccord Genuity lowered their price target on Crescent Point Energy from C$8.00 to C$7.50 in a research report on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of C$7.56.

TSE CPG traded up C$0.53 during trading hours on Monday, hitting C$6.22. The company had a trading volume of 8,012,187 shares, compared to its average volume of 4,721,711. Crescent Point Energy has a 52 week low of C$3.24 and a 52 week high of C$8.58. The firm has a 50 day simple moving average of C$4.27 and a 200 day simple moving average of C$4.49. The company has a debt-to-equity ratio of 58.69, a quick ratio of 0.44 and a current ratio of 0.59. The firm has a market capitalization of $3.12 billion and a price-to-earnings ratio of -1.59.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last issued its quarterly earnings results on Thursday, July 25th. The company reported C$0.27 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.21 by C$0.06. The firm had revenue of C$945.20 million for the quarter, compared to analyst estimates of C$973.00 million. On average, research analysts forecast that Crescent Point Energy will post 0.48 earnings per share for the current year.

Crescent Point Energy Company Profile

Crescent Point Energy Corp. explores, develops, and produces light and medium crude oil and natural gas reserves in Western Canada and the United States. The company's crude oil and natural gas properties, and related assets are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota, Montana, and Utah.

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Analyst Recommendations for Crescent Point Energy (TSE:CPG)

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