Crescent Point Energy (TSE:CPG) Price Target Raised to C$14.00

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its price objective increased by Desjardins from C$12.50 to C$14.00 in a report released on Tuesday, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

Several other brokerages have also recently commented on CPG. National Bankshares increased their price target on Crescent Point Energy from C$14.00 to C$19.00 and gave the company an outperform rating in a research report on Friday, April 19th. ATB Capital raised their price objective on Crescent Point Energy from C$12.00 to C$13.00 in a report on Monday, April 22nd. Stifel Nicolaus lifted 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, March 21st. CIBC boosted their target price on Crescent Point Energy from C$14.00 to C$15.00 and gave the company an outperform rating in a research report on Monday, April 22nd. Finally, BMO Capital Markets boosted their target price on Crescent Point Energy from C$12.00 to C$13.00 and gave the stock an outperform rating in a research note on Thursday, March 21st. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, Crescent Point Energy has a consensus rating of Buy and a consensus target price of C$14.55.

Crescent Point Energy Price Performance

Shares of TSE:CPG opened at C$12.38 on Tuesday. The business’s 50 day moving average is C$10.84 and its 200-day moving average is C$10.00. The company has a current ratio of 0.76, a quick ratio of 0.49 and a debt-to-equity ratio of 54.04. The firm has a market capitalization of C$7.67 billion, a PE ratio of 8.48, a PEG ratio of -0.59 and a beta of 2.86. Crescent Point Energy has a 1-year low of C$8.16 and a 1-year high of C$12.47.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last released its earnings results on Thursday, February 29th. The company reported C$0.37 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.51 by C($0.14). The firm had revenue of C$1.01 billion for the quarter, compared to the consensus estimate of C$1 billion. Crescent Point Energy had a return on equity of 11.97% and a net margin of 17.88%. Sell-side analysts predict that Crescent Point Energy will post 1.430622 earnings per share for the current year.

Crescent Point Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a dividend of $0.115 per share. This is a boost from Crescent Point Energy’s previous quarterly dividend of $0.02. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend was Thursday, March 14th. Crescent Point Energy’s dividend payout ratio (DPR) is 31.51%.

Insider Buying and Selling

In other Crescent Point Energy news, Senior Officer Mark Gordon Eade sold 34,497 shares of Crescent Point Energy stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of C$11.83, for a total transaction of C$408,099.51. In other Crescent Point Energy news, Senior Officer William Garret Holt acquired 49,309 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was purchased at an average price of C$10.15 per share, with a total value of C$500,486.35. Also, Senior Officer Mark Gordon Eade sold 34,497 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of C$11.83, for a total transaction of C$408,099.51. 0.23% of the stock is owned by insiders.

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.