Analysts Set Crescent Point Energy Corp (NYSE:CPG) Price Target at $6.01

Crescent Point Energy Corp (NYSE:CPG) (TSE:CPG) has received an average recommendation of “Buy” from the nine research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $6.01.

A number of analysts recently commented on CPG shares. Royal Bank of Canada reiterated a “hold” rating and set a $6.00 price objective on shares of Crescent Point Energy in a research report on Thursday, July 18th. Raymond James set a $7.00 price objective on Crescent Point Energy and gave the company a “hold” rating in a research report on Wednesday, September 4th. Zacks Investment Research upgraded Crescent Point Energy from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Wednesday, September 25th. BMO Capital Markets upgraded Crescent Point Energy from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $6.00 to $8.00 in a research report on Monday, September 16th. Finally, ValuEngine upgraded Crescent Point Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd.

Crescent Point Energy stock traded down $0.09 during mid-day trading on Friday, reaching $3.78. 1,938,238 shares of the stock traded hands, compared to its average volume of 3,047,385. The stock has a market capitalization of $2.12 billion, a PE ratio of 11.45 and a beta of 1.09. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.59 and a quick ratio of 0.59. Crescent Point Energy has a 12-month low of $2.43 and a 12-month high of $5.42. The business’s 50-day moving average is $4.02 and its 200-day moving average is $3.56.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. The company had revenue of $706.64 million during the quarter, compared to analysts’ expectations of $724.48 million. Crescent Point Energy had a positive return on equity of 5.15% and a negative net margin of 58.40%. During the same quarter in the prior year, the business earned $0.19 earnings per share. Equities analysts anticipate that Crescent Point Energy will post 0.47 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Sunday, September 15th were given a $0.008 dividend. This is a boost from Crescent Point Energy’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.03 dividend on an annualized basis and a yield of 0.85%. Crescent Point Energy’s dividend payout ratio is presently 9.09%.

Institutional investors and hedge funds have recently modified their holdings of the business. Corient Capital Partners LLC purchased a new stake in Crescent Point Energy in the second quarter worth about $39,000. Jefferies Group LLC purchased a new stake in Crescent Point Energy in the second quarter worth about $68,000. Tower Research Capital LLC TRC increased its position in Crescent Point Energy by 72.9% in the second quarter. Tower Research Capital LLC TRC now owns 21,032 shares of the oil and gas producer’s stock worth $70,000 after buying an additional 8,871 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Crescent Point Energy by 13.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,763 shares of the oil and gas producer’s stock worth $149,000 after buying an additional 4,024 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in Crescent Point Energy by 29,739.4% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 46,251 shares of the oil and gas producer’s stock worth $153,000 after buying an additional 46,096 shares in the last quarter. Institutional investors and hedge funds own 31.76% of the company’s stock.

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 (NYSE:CPG)

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