Crescent Point Energy (TSE:CPG) Price Target Raised to C$14.50 at Canaccord Genuity Group

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its price objective upped by Canaccord Genuity Group from C$14.00 to C$14.50 in a report published on Tuesday, BayStreet.CA reports. The firm currently has a buy rating on the stock.

Several other research firms have also issued reports on CPG. Raymond James reduced their target price on Crescent Point Energy from C$16.50 to C$14.00 and set an outperform rating on the stock in a report on Friday, January 19th. Desjardins raised their target price on shares of Crescent Point Energy from C$12.50 to C$14.00 and gave the company a buy rating in a report on Tuesday, April 23rd. ATB Capital upped their price target on shares of Crescent Point Energy from C$12.00 to C$13.00 in a report on Monday, April 22nd. Stifel Nicolaus lifted their price objective on shares of Crescent Point Energy from C$14.25 to C$16.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. Finally, Jefferies Financial Group upped their target price on Crescent Point Energy from C$12.00 to C$14.00 in a research note on Tuesday, April 23rd. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of Buy and an average price target of C$14.70.

Crescent Point Energy Price Performance

Shares of Crescent Point Energy stock opened at C$12.15 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 0.76 and a debt-to-equity ratio of 54.04. The stock has a market capitalization of C$7.53 billion, a price-to-earnings ratio of 8.32, a price-to-earnings-growth ratio of -0.59 and a beta of 2.86. Crescent Point Energy has a twelve month low of C$8.16 and a twelve month high of C$12.67. The company has a 50-day simple moving average of C$11.26 and a two-hundred day simple moving average of C$10.04.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last released its quarterly earnings results on Thursday, February 29th. The company reported C$0.37 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.51 by C($0.14). The business had revenue of C$1.01 billion during 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%. Analysts forecast that Crescent Point Energy will post 1.430622 EPS for the current year.

Crescent Point Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.46 dividend on an annualized basis and a yield of 3.79%. This is a positive change from Crescent Point Energy’s previous quarterly dividend of $0.02. Crescent Point Energy’s payout ratio is currently 31.51%.

Insiders Place Their Bets

In other news, Senior Officer William Garret Holt purchased 49,309 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were 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 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 Crescent Point Energy stock in a transaction on Thursday, April 4th. The stock was sold at an average price of C$11.83, for a total transaction of C$408,099.51. Insiders own 0.23% of the company’s stock.

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.