Analysts Set Crescent Point Energy Corp (NYSE:CPG) Price Target at $6.61

Shares of Crescent Point Energy Corp (NYSE:CPG) (TSE:CPG) have been assigned an average rating of “Hold” from the ten ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $6.61.

Several equities analysts recently issued reports on the company. Raymond James reiterated a “hold” rating and issued a $5.50 price target on shares of Crescent Point Energy in a report on Friday, November 1st. National Bank Financial reiterated an “outperform overweight” rating and issued a $9.50 price target on shares of Crescent Point Energy in a report on Monday, October 21st. Tudor Pickering upgraded Crescent Point Energy to a “buy” rating in a report on Tuesday, January 7th. Zacks Investment Research cut Crescent Point Energy from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Finally, ValuEngine cut Crescent Point Energy from a “sell” rating to a “strong sell” rating in a report on Friday, November 1st.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC acquired a new stake in Crescent Point Energy in the 3rd quarter valued at approximately $52,000. Jefferies Group LLC acquired a new position in shares of Crescent Point Energy during the 2nd quarter worth approximately $68,000. Tower Research Capital LLC TRC increased its position in shares of Crescent Point Energy by 72.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 21,032 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 8,871 shares during the last quarter. Corient Capital Partners LLC increased its position in shares of Crescent Point Energy by 107.9% during the 3rd quarter. Corient Capital Partners LLC now owns 24,463 shares of the oil and gas producer’s stock worth $104,000 after purchasing an additional 12,695 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Crescent Point Energy by 13.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,763 shares of the oil and gas producer’s stock worth $149,000 after acquiring an additional 4,024 shares during the period. Hedge funds and other institutional investors own 35.92% of the company’s stock.

Crescent Point Energy stock traded down $0.16 during mid-day trading on Tuesday, hitting $3.67. The stock had a trading volume of 64,944 shares, compared to its average volume of 1,742,743. The stock has a 50-day simple moving average of $4.19 and a two-hundred day simple moving average of $3.77. The stock has a market capitalization of $2.03 billion, a PE ratio of -1.07 and a beta of 1.17. Crescent Point Energy has a 12 month low of $2.43 and a 12 month high of $4.84. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.55.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.05). The firm had revenue of $582.58 million during the quarter, compared to the consensus estimate of $602.91 million. Crescent Point Energy had a negative net margin of 73.75% and a positive return on equity of 4.85%. Sell-side analysts expect that Crescent Point Energy will post -0.06 earnings per share for the current fiscal year.

The business also recently announced a dividend, which was paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th were issued a dividend of $0.008 per share. The ex-dividend date of this dividend was Thursday, December 12th. Crescent Point Energy’s dividend payout ratio (DPR) is currently 9.09%.

About Crescent Point Energy

Crescent Point Energy Corp. explores, develops, and produces light and medium crude oil and natural gas reserves 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, and Utah.

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