Crescent Point Energy Corp (CPG) Receives Average Rating of “Buy” from Analysts

Shares of Crescent Point Energy Corp (TSE:CPG) (NYSE:CPG) have received a consensus recommendation of “Buy” from the twelve ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is C$20.21.

CPG has been the topic of a number of recent research reports. Barclays PLC lowered their target price on Crescent Point Energy Corp from C$21.00 to C$12.00 in a research report on Monday, July 24th. Royal Bank Of Canada lowered their target price on Crescent Point Energy Corp from C$18.00 to C$14.00 in a research report on Thursday, July 20th. CIBC lowered their price target on Crescent Point Energy Corp from C$18.00 to C$11.50 in a research report on Thursday, July 20th. National Bank Financial lowered their price target on Crescent Point Energy Corp from C$18.50 to C$14.00 in a research report on Friday, June 23rd. Finally, TD Securities reissued a “buy” rating and set a C$21.00 price target on shares of Crescent Point Energy Corp in a research report on Friday, April 28th.

In related news, insider Bradley Harlan Borggard sold 4,800 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of C$13.65, for a total value of C$65,520.00. Also, insider Mark Gordon Eade purchased 6,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was bought at an average price of C$11.12 per share, with a total value of C$66,720.00. Over the last quarter, insiders purchased 7,500 shares of company stock valued at $84,440 and sold 27,847 shares valued at $290,355.

Crescent Point Energy Corp (TSE:CPG) opened at 9.01 on Monday. The stock’s 50 day moving average price is $9.55 and its 200 day moving average price is $12.78. Crescent Point Energy Corp has a 1-year low of $8.95 and a 1-year high of $22.00. The firm’s market cap is $4.91 billion.

The business also recently declared a monthly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be paid a $0.03 dividend. This represents a $0.36 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Thursday, July 27th.

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About Crescent Point Energy Corp

Crescent Point Energy Corp. acquires, explores, develops, and produces light and medium oil and natural gas properties 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, Colorado, and Utah.

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