Crescent Point Energy (TSE:CPG) Price Target Raised to C$14.00 at Canaccord Genuity Group

Crescent Point Energy (TSE:CPGFree Report) (NYSE:CPG) had its target price raised by Canaccord Genuity Group from C$13.00 to C$14.00 in a research report released on Wednesday, BayStreet.CA reports. They currently have a buy rating on the stock.

CPG has been the subject of several other reports. National Bankshares dropped their target price on Crescent Point Energy from C$19.00 to C$14.00 and set an outperform rating for the company in a research report on Wednesday, January 10th. Desjardins lifted 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 report on Friday, March 22nd. CIBC dropped 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 report on Tuesday, January 16th. Jefferies Financial Group lifted their target price on Crescent Point Energy from C$12.00 to C$14.00 and gave the company a buy rating in a research report on Tuesday. Finally, Raymond James dropped their target price on Crescent Point Energy from C$16.50 to C$14.00 and set an outperform rating for the company in a research report on Friday, January 19th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, Crescent Point Energy has an average rating of Buy and an average target price of C$13.95.

Check Out Our Latest Report on CPG

Crescent Point Energy Stock Down 0.5 %

Shares of CPG opened at C$11.75 on Wednesday. The firm has a market cap of C$7.28 billion, a P/E ratio of 8.05, a price-to-earnings-growth ratio of -0.59 and a beta of 2.86. Crescent Point Energy has a 12-month low of C$8.16 and a 12-month high of C$12.47. The company’s 50-day moving average price is C$10.44 and its 200 day moving average price is C$9.93. The company has a current ratio of 0.76, a quick ratio of 0.49 and a debt-to-equity ratio of 54.04.

Crescent Point Energy (TSE:CPGGet Free Report) (NYSE:CPG) last issued its quarterly earnings data on Thursday, February 29th. The company reported C$0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.51 by C($0.14). The company had revenue of C$1.01 billion during the quarter, compared to analysts’ expectations of C$1 billion. Crescent Point Energy had a net margin of 17.88% and a return on equity of 11.97%. On average, sell-side analysts forecast that Crescent Point Energy will post 1.430622 earnings per share for the current year.

Crescent Point Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 3.91%. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.02. The ex-dividend date was Thursday, March 14th. Crescent Point Energy’s dividend payout ratio is 31.51%.

Insider Activity at Crescent Point Energy

In other Crescent Point Energy news, Senior Officer William Garret Holt purchased 49,309 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average cost of C$10.15 per share, with a total value of C$500,486.35. In other Crescent Point Energy news, Senior Officer William Garret Holt purchased 49,309 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average cost of C$10.15 per share, with a total value of C$500,486.35. Also, Senior Officer Mark Gordon Eade sold 34,497 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were 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

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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.

Further Reading

Analyst Recommendations for Crescent Point Energy (TSE:CPG)

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