Crescent Point Energy (TSE:CPG) Price Target Cut to C$6.00 by Analysts at Royal Bank of Canada

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its target price decreased by Royal Bank of Canada from C$7.00 to C$6.00 in a research note released on Thursday morning, BayStreet.CA reports.

CPG has been the subject of a number of other research reports. Raymond James reissued a buy rating on shares of Canadian Natural Resources in a research note on Friday, May 10th. BMO Capital Markets reissued a hold rating and set a $9.50 target price on shares of Vicon Industries in a research note on Friday, June 14th. CIBC lifted their target price on shares of Quebecor from C$34.00 to C$35.00 in a research note on Friday, May 10th. Canaccord Genuity reissued a buy rating and set a $7.50 target price on shares of in a research note on Tuesday, July 9th. Finally, National Bank Financial lowered their target price on shares of Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating for the company in a research note on Tuesday, June 25th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of C$7.83.

Shares of TSE CPG opened at C$4.07 on Thursday. Crescent Point Energy has a twelve month low of C$3.24 and a twelve month high of C$9.70. The business’s fifty day moving average price is C$4.21. The company has a market capitalization of $2.23 billion and a P/E ratio of -0.89. The company has a debt-to-equity ratio of 66.23, a current ratio of 0.59 and a quick ratio of 0.44.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last announced its earnings results on Thursday, May 9th. The company reported C$0.29 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.03 by C$0.26. The firm had revenue of C$892.40 million for the quarter, compared to the consensus estimate of C$836.00 million. As a group, analysts anticipate that Crescent Point Energy will post 0.54 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Saturday, June 15th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Thursday, June 13th. Crescent Point Energy’s dividend payout ratio is presently -6.10%.

About Crescent Point Energy

Crescent Point Energy Corp. explores, develops, and produces light and medium crude oil and natural gas reserves 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 (TSE:CPG)

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