BMO Capital Markets Boosts Crescent Point Energy (NYSE:CPG) Price Target to $14.00

Crescent Point Energy (NYSE:CPG) (TSE:CPG) had its price objective boosted by BMO Capital Markets from $13.00 to $14.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the oil and gas producer’s stock. BMO Capital Markets’ price objective points to a potential upside of 58.55% from the company’s current price.

Crescent Point Energy Price Performance

CPG stock traded up $0.01 during trading on Tuesday, hitting $8.83. 1,392,570 shares of the stock traded hands, compared to its average volume of 5,681,300. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 12.59 and a beta of 2.17. The company has a 50 day simple moving average of $8.24 and a 200 day simple moving average of $7.39. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. Crescent Point Energy has a one year low of $6.03 and a one year high of $9.28.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last announced its earnings results on Thursday, February 29th. The oil and gas producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.11). Crescent Point Energy had a net margin of 15.40% and a return on equity of 13.27%. The business had revenue of $743.70 million during the quarter, compared to analyst estimates of $752.25 million. Equities analysts expect that Crescent Point Energy will post 1.17 EPS for the current fiscal year.

Institutional Trading of Crescent Point Energy

A number of institutional investors have recently modified their holdings of CPG. Vanguard Group Inc. increased its position in shares of Crescent Point Energy by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 18,888,969 shares of the oil and gas producer’s stock worth $156,778,000 after purchasing an additional 217,234 shares during the last quarter. American Century Companies Inc. raised its stake in Crescent Point Energy by 12.1% in the third quarter. American Century Companies Inc. now owns 3,585,348 shares of the oil and gas producer’s stock valued at $29,723,000 after buying an additional 387,650 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Crescent Point Energy by 7.3% in the third quarter. The Manufacturers Life Insurance Company now owns 3,181,597 shares of the oil and gas producer’s stock valued at $26,564,000 after buying an additional 216,250 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Crescent Point Energy by 2.1% during the 3rd quarter. Invesco Ltd. now owns 5,309,589 shares of the oil and gas producer’s stock worth $44,070,000 after acquiring an additional 110,526 shares during the period. Finally, Ninepoint Partners LP lifted its holdings in Crescent Point Energy by 100.0% during the 3rd quarter. Ninepoint Partners LP now owns 16,000,000 shares of the oil and gas producer’s stock valued at $132,800,000 after purchasing an additional 8,000,000 shares during the last quarter. 49.37% of the stock is currently owned by institutional investors.

Crescent Point Energy Company Profile

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.