Crescent Point Energy’s (CPG) “Hold” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their hold rating on shares of Crescent Point Energy (NYSE:CPG) (TSE:CPG) in a research report sent to investors on Thursday morning, AnalystRatings.com reports. Royal Bank of Canada currently has a $6.00 price objective on the oil and gas producer’s stock.

Several other brokerages have also issued reports on CPG. Raymond James reiterated a buy rating on shares of Canadian Natural Resources in a research report on Friday, May 10th. Macquarie upgraded shares of Husky Energy from an underperform rating to a neutral rating in a research report on Thursday, April 11th. Zacks Investment Research lowered shares of H&E Equipment Services from a hold rating to a sell rating in a research report on Wednesday. CIBC raised shares of Crescent Point Energy from a neutral rating to a sector outperform rating in a research note on Thursday, May 9th. Finally, Canaccord Genuity reissued a hold rating and issued a $20.00 price target (down from $29.00) on shares of Sailpoint Technologies in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $4.77.

Shares of NYSE CPG opened at $3.12 on Thursday. The firm has a 50-day moving average of $3.19. Crescent Point Energy has a 52-week low of $2.43 and a 52-week high of $7.41. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 9.45 and a beta of 1.08. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.62.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last announced its earnings results on Thursday, May 9th. The oil and gas producer reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.20. Crescent Point Energy had a negative net margin of 67.99% and a positive return on equity of 4.22%. The business had revenue of $671.24 million for the quarter, compared to analyst estimates of $621.98 million. During the same quarter last year, the business earned $0.12 earnings per share. Equities analysts expect that Crescent Point Energy will post 0.36 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Saturday, June 15th were paid a $0.007 dividend. This represents a $0.03 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Thursday, June 13th. Crescent Point Energy’s dividend payout ratio is currently 9.09%.

Several large investors have recently bought and sold shares of CPG. Stratos Wealth Partners LTD. purchased a new position in shares of Crescent Point Energy in the first quarter worth about $32,000. Jane Street Group LLC purchased a new position in shares of Crescent Point Energy in the fourth quarter worth about $70,000. HRT Financial LLC purchased a new position in shares of Crescent Point Energy in the fourth quarter worth about $74,000. Gotham Asset Management LLC purchased a new position in shares of Crescent Point Energy in the fourth quarter worth about $86,000. Finally, NumerixS Investment Technologies Inc lifted its stake in shares of Crescent Point Energy by 832.0% in the first quarter. NumerixS Investment Technologies Inc now owns 46,600 shares of the oil and gas producer’s stock worth $150,000 after buying an additional 41,600 shares in the last quarter. 32.35% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Point Energy Company Profile

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 (NYSE:CPG)

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