Crescent Point Energy Corp. (NYSE:CPG) Receives Consensus Rating of “Buy” from Analysts

Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) has received an average rating of “Buy” from the four ratings firms that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $13.81.

Separately, BMO Capital Markets increased their price target on Crescent Point Energy from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Tuesday.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Crescent Point Energy by 1.2% in the third quarter. Vanguard Group Inc. now owns 18,888,969 shares of the oil and gas producer’s stock worth $156,778,000 after purchasing an additional 217,234 shares in the last quarter. American Century Companies Inc. lifted its holdings in Crescent Point Energy by 12.1% during the 3rd quarter. American Century Companies Inc. now owns 3,585,348 shares of the oil and gas producer’s stock worth $29,723,000 after buying an additional 387,650 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Crescent Point Energy by 7.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,181,597 shares of the oil and gas producer’s stock worth $26,564,000 after acquiring an additional 216,250 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Crescent Point Energy by 2.1% in the 3rd quarter. Invesco Ltd. now owns 5,309,589 shares of the oil and gas producer’s stock valued at $44,070,000 after acquiring an additional 110,526 shares during the last quarter. Finally, Ninepoint Partners LP boosted its holdings in Crescent Point Energy by 100.0% in the third quarter. Ninepoint Partners LP now owns 16,000,000 shares of the oil and gas producer’s stock worth $132,800,000 after purchasing an additional 8,000,000 shares during the period. Institutional investors and hedge funds own 49.37% of the company’s stock.

Crescent Point Energy Trading Up 0.1 %

Shares of NYSE:CPG traded up $0.01 during trading on Tuesday, reaching $8.83. 2,651,587 shares of the stock were exchanged, compared to its average volume of 5,695,348. Crescent Point Energy has a 12-month low of $6.03 and a 12-month high of $9.28. The firm’s 50-day moving average price is $8.24 and its 200 day moving average price is $7.39. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 12.59 and a beta of 2.17.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last released its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.11). Crescent Point Energy had a return on equity of 13.27% and a net margin of 15.40%. The business had revenue of $743.70 million for the quarter, compared to analysts’ expectations of $752.25 million. On average, sell-side analysts anticipate that Crescent Point Energy will post 1.17 earnings per share for the current fiscal year.

Crescent Point Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.086 per share. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.34 annualized dividend and a yield of 3.90%. Crescent Point Energy’s payout ratio is 48.57%.

About Crescent Point Energy

Crescent Point Energy Corp. 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.