Analysts Set Crescent Point Energy Corp (CPG) PT at $5.00

Shares of Crescent Point Energy Corp (NYSE:CPG) (TSE:CPG) have been assigned an average rating of “Hold” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $5.00.

A number of brokerages recently issued reports on CPG. Zacks Investment Research cut shares of Crescent Point Energy from a “buy” rating to a “hold” rating in a research report on Monday, January 21st. Macquarie cut shares of Crescent Point Energy from an “outperform” rating to a “neutral” rating in a research report on Friday, January 18th. Canaccord Genuity cut shares of Crescent Point Energy to a “buy” rating in a research report on Thursday, January 10th. Raymond James reissued a “hold” rating on shares of Crescent Point Energy in a research report on Wednesday, January 16th. Finally, BMO Capital Markets reissued an “average” rating and set a $5.00 price target on shares of Crescent Point Energy in a research report on Monday, January 7th.

NYSE:CPG opened at $3.24 on Wednesday. Crescent Point Energy has a 12 month low of $2.43 and a 12 month high of $9.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $1.76 billion, a PE ratio of 9.70 and a beta of 1.01.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last posted its earnings results on Thursday, March 7th. The oil and gas producer reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.11). Crescent Point Energy had a positive return on equity of 2.79% and a negative net margin of 68.90%. The company had revenue of $599.03 million during the quarter, compared to analysts’ expectations of $741.38 million. During the same period in the prior year, the business posted ($0.06) earnings per share. As a group, research analysts forecast that Crescent Point Energy will post 0.12 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be given a dividend of $0.007 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.03 dividend on an annualized basis and a yield of 0.86%. Crescent Point Energy’s dividend payout ratio (DPR) is currently 9.09%.

Institutional investors have recently modified their holdings of the business. Franklin Resources Inc. raised its holdings in Crescent Point Energy by 15.8% in the third quarter. Franklin Resources Inc. now owns 33,361,414 shares of the oil and gas producer’s stock worth $212,163,000 after buying an additional 4,558,402 shares during the last quarter. Paloma Partners Management Co purchased a new position in Crescent Point Energy in the third quarter worth about $530,000. Russell Investments Group Ltd. raised its holdings in Crescent Point Energy by 14.1% in the third quarter. Russell Investments Group Ltd. now owns 110,387 shares of the oil and gas producer’s stock worth $690,000 after buying an additional 13,650 shares during the last quarter. Credit Suisse AG raised its holdings in Crescent Point Energy by 31.8% in the third quarter. Credit Suisse AG now owns 1,188,867 shares of the oil and gas producer’s stock worth $7,550,000 after buying an additional 286,548 shares during the last quarter. Finally, Nordea Investment Management AB purchased a new position in Crescent Point Energy in the third quarter worth about $177,000. 37.67% of the stock is owned by institutional investors and hedge funds.

Crescent Point Energy Company Profile

Crescent Point Energy Corp. acquires, explores, develops, and produces light and medium oil and natural gas properties 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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