BMO Capital Markets Increases Crescent Point Energy (TSE:CPG) Price Target to C$13.00

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its target price upped by BMO Capital Markets from C$12.00 to C$13.00 in a research report report published on Thursday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also weighed in on the company. National Bankshares dropped their price target on Crescent Point Energy from C$19.00 to C$14.00 and set an outperform rating on the stock in a research report on Wednesday, January 10th. Raymond James dropped their price target on Crescent Point Energy from C$16.50 to C$14.00 and set an outperform rating on the stock in a research report on Friday, January 19th. ATB Capital dropped their target price on Crescent Point Energy from C$13.00 to C$12.00 and set an outperform rating on the stock in a report on Thursday, January 18th. Stifel Nicolaus boosted their target price on Crescent Point Energy from C$14.00 to C$14.50 and gave the stock a buy rating in a report on Thursday. Finally, Jefferies Financial Group set a C$12.00 target price on Crescent Point Energy and gave the stock a buy rating in a report on Tuesday, February 27th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of Buy and an average price target of C$13.71.

Crescent Point Energy Price Performance

CPG opened at C$10.59 on Thursday. The company has a debt-to-equity ratio of 54.04, a quick ratio of 0.49 and a current ratio of 0.76. Crescent Point Energy has a 52-week low of C$8.16 and a 52-week high of C$11.70. The stock has a market capitalization of C$6.57 billion, a PE ratio of 7.25, a price-to-earnings-growth ratio of -0.59 and a beta of 2.88. The stock’s 50 day moving average price is C$9.38 and its 200-day moving average price is C$9.87.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last posted its earnings results on Thursday, February 29th. The company reported C$0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.51 by C($0.14). Crescent Point Energy had a net margin of 17.88% and a return on equity of 11.97%. The business had revenue of C$1.01 billion for the quarter, compared to analysts’ expectations of C$1 billion. On average, equities research analysts predict that Crescent Point Energy will post 1.2206897 EPS for the current year.

Crescent Point Energy Increases Dividend

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

Insider Transactions at Crescent Point Energy

In other Crescent Point Energy news, Senior Officer William Garret Holt purchased 49,309 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was purchased at an average price of C$10.15 per share, for a total transaction of C$500,486.35. Company insiders own 0.23% of the company’s stock.

About Crescent Point Energy

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.