Crescent Point Energy (TSE:CPG) Price Target Raised to C$14.00

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its target price lifted by Canaccord Genuity Group from C$13.00 to C$14.00 in a research report sent to investors on Wednesday, BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other research analysts have also commented on the company. BMO Capital Markets raised their price target on Crescent Point Energy from C$12.00 to C$13.00 and gave the company an outperform rating in a report on Thursday, March 21st. Desjardins raised their target price on Crescent Point Energy from C$12.00 to C$12.50 and gave the company a buy rating in a research note on Friday, March 22nd. Stifel Nicolaus raised their target price on Crescent Point Energy from C$14.00 to C$14.50 and gave the company a buy rating in a research note on Thursday, March 21st. ATB Capital decreased their target price on Crescent Point Energy from C$13.00 to C$12.00 and set an outperform rating for the company in a research note on Thursday, January 18th. Finally, CIBC decreased their target price on Crescent Point Energy from C$15.00 to C$14.00 and set an outperform rating for the company in a research note on Tuesday, January 16th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of C$14.05.

Crescent Point Energy Price Performance

Shares of TSE CPG opened at C$11.96 on Wednesday. Crescent Point Energy has a 1-year low of C$8.16 and a 1-year high of C$12.47. The company has a debt-to-equity ratio of 54.04, a current ratio of 0.76 and a quick ratio of 0.49. The business’s fifty day moving average price is C$10.57 and its two-hundred day moving average price is C$9.95. The firm has a market capitalization of C$7.41 billion, a PE ratio of 8.19, a P/E/G ratio of -0.59 and a beta of 2.86.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last issued its quarterly earnings results on Thursday, February 29th. The company reported C$0.37 EPS for the quarter, missing analysts’ consensus estimates of C$0.51 by C($0.14). The business had revenue of C$1.01 billion for the quarter, compared to analyst estimates of C$1 billion. Crescent Point Energy had a net margin of 17.88% and a return on equity of 11.97%. On average, research analysts expect that Crescent Point Energy will post 1.430622 EPS for the current year.

Crescent Point Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a $0.115 dividend. This is a positive change from Crescent Point Energy’s previous quarterly dividend of $0.02. The ex-dividend date was Thursday, March 14th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.85%. Crescent Point Energy’s dividend payout ratio (DPR) is 31.51%.

Insider Activity at Crescent Point Energy

In related news, Senior Officer Mark Gordon Eade sold 34,497 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of C$11.83, for a total value of C$408,099.51. In other Crescent Point Energy news, Senior Officer William Garret Holt acquired 49,309 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was purchased at an average cost of C$10.15 per share, for a total transaction of C$500,486.35. Also, Senior Officer Mark Gordon Eade sold 34,497 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of C$11.83, for a total value of C$408,099.51. 0.23% of the stock is currently owned by corporate insiders.

About Crescent Point Energy

Crescent Point Energy Corp. explores, develops, and produces oil and gas properties in Canada and the United States. The company focuses on crude oil, tight oil, natural gas liquids, shale gas, and natural gas reserves. Its properties are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota.