Crescent Point Energy (TSE:CPG) Price Target Raised to C$13.00

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its price target hoisted by Canaccord Genuity Group from C$12.50 to C$13.00 in a research note published on Thursday, BayStreet.CA reports. They currently have a buy rating on the stock.

CPG has been the topic of several other research reports. Raymond James dropped their price objective on Crescent Point Energy from C$16.50 to C$14.00 and set an outperform rating on the stock in a research note on Friday, January 19th. Jefferies Financial Group set a C$12.00 price target on Crescent Point Energy and gave the stock a buy rating in a research report on Tuesday, February 27th. Stifel Nicolaus lifted their price objective on Crescent Point Energy from C$14.00 to C$14.50 and gave the company a buy rating in a report on Thursday. CIBC lowered their price objective on shares of Crescent Point Energy from C$15.00 to C$14.00 and set an outperform rating for the company in a research note on Tuesday, January 16th. Finally, ATB Capital cut their target price on shares of Crescent Point Energy from C$13.00 to C$12.00 and set an outperform rating on the stock in a research report on Thursday, January 18th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Crescent Point Energy presently has a consensus rating of Buy and a consensus price target of C$13.71.

Crescent Point Energy Stock Performance

CPG stock opened at C$10.59 on Thursday. The firm has a market cap of C$6.57 billion, a price-to-earnings ratio of 7.25, a PEG ratio of -0.59 and a beta of 2.88. Crescent Point Energy has a twelve month low of C$8.16 and a twelve month high of C$11.70. 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 business’s fifty day simple moving average is C$9.38 and its two-hundred day simple moving average is C$9.88.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last posted its quarterly earnings results on Thursday, February 29th. The company reported C$0.37 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 return on equity of 11.97% and a net margin of 17.88%. Analysts predict that Crescent Point Energy will post 1.2206897 earnings per share for the current year.

Crescent Point Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be given a $0.115 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.34%. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.02. Crescent Point Energy’s payout ratio is presently 31.51%.

Insider Buying and Selling

In other news, Senior Officer William Garret Holt purchased 49,309 shares of the business’s stock in a transaction on Friday, March 8th. The shares were acquired at an average cost of C$10.15 per share, with a total value of C$500,486.35. 0.23% of the stock is currently owned by company insiders.

Crescent Point Energy Company Profile

Crescent Point Energy Corp., together with its subsidiaries, 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.