Crescent Point Energy (TSE:CPG) Price Target Raised to C$12.50

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its price objective increased by Desjardins from C$12.00 to C$12.50 in a research note published on Friday morning, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

A number of other equities analysts also recently issued reports on the company. ATB Capital lowered their price target on Crescent Point Energy from C$13.00 to C$12.00 and set an outperform rating for the company in a report on Thursday, January 18th. BMO Capital Markets upped their price target on Crescent Point Energy from C$12.00 to C$13.00 and gave the company an outperform rating in a report on Thursday. Jefferies Financial Group set a C$12.00 price target on Crescent Point Energy and gave the company a buy rating in a report on Tuesday, February 27th. National Bankshares lowered their price target on Crescent Point Energy from C$19.00 to C$14.00 and set an outperform rating for the company in a report on Wednesday, January 10th. Finally, Stifel Nicolaus upped their price target on Crescent Point Energy from C$14.00 to C$14.50 and gave the company a buy rating in a report on Thursday. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of C$13.71.

Crescent Point Energy Stock Performance

Shares of CPG opened at C$10.59 on Friday. The stock has a 50-day simple moving average of C$9.38 and a 200-day simple moving average of C$9.87. The company has a debt-to-equity ratio of 54.04, a quick ratio of 0.49 and a current ratio of 0.76. The stock has a market capitalization of C$6.57 billion, a PE ratio of 7.25, a PEG ratio of -0.59 and a beta of 2.88. Crescent Point Energy has a 1 year low of C$8.16 and a 1 year high of C$11.70.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last announced its quarterly earnings data 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). 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 net margin of 17.88% and a return on equity of 11.97%. On average, analysts predict that Crescent Point Energy will post 1.2206897 earnings per share for the current fiscal year.

Crescent Point Energy Increases Dividend

The business 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 dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 4.34%. The ex-dividend date is Thursday, March 14th. This is a boost from Crescent Point Energy’s previous quarterly dividend of $0.02. Crescent Point Energy’s dividend payout ratio is 31.51%.

Insider Transactions at Crescent Point Energy

In related news, Senior Officer William Garret Holt purchased 49,309 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was acquired 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.

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.