Crescent Point Energy (CPG) Upgraded by TD Securities to Buy

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TD Securities upgraded shares of Crescent Point Energy (TSE:CPG) (NYSE:CPG) from a hold rating to a buy rating in a report released on Monday morning. They currently have C$7.50 price target on the stock, down from their previous price target of C$8.00.

Several other brokerages have also recently issued reports on CPG. GMP Securities lowered their price objective on shares of Crescent Point Energy from C$10.50 to C$8.00 in a research note on Thursday, December 13th. National Bank Financial lowered their price objective on shares of Crescent Point Energy from C$16.00 to C$6.50 and set an outperform rating on the stock in a research note on Monday, December 10th. Raymond James lowered their price objective on shares of Crescent Point Energy from C$13.00 to C$11.00 in a research note on Friday, October 5th. BMO Capital Markets cut shares of Crescent Point Energy from an outperform rating to a market perform rating and lowered their price objective for the stock from C$10.00 to C$8.00 in a research note on Monday, October 22nd. Finally, CIBC lowered their price objective on shares of Crescent Point Energy from C$11.00 to C$9.00 in a research note on Thursday, November 22nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of C$9.32.

Shares of CPG opened at C$4.51 on Monday. The company has a current ratio of 0.48, a quick ratio of 0.42 and a debt-to-equity ratio of 46.70. Crescent Point Energy has a 12-month low of C$3.70 and a 12-month high of C$11.81.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last announced its quarterly earnings data on Thursday, October 25th. The company reported C$0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.10 by C$0.05. The business had revenue of C$1.08 billion during the quarter, compared to analyst estimates of C$971.40 million. As a group, research analysts predict that Crescent Point Energy will post 0.76 earnings per share for the current fiscal year.

The company also recently announced a monthly dividend, which was paid on Monday, December 17th. Stockholders of record on Friday, November 30th were given a $0.03 dividend. This represents a $0.36 annualized dividend and a dividend yield of 7.98%. The ex-dividend date was Thursday, November 29th. Crescent Point Energy’s dividend payout ratio (DPR) is currently -69.23%.

In related news, Director Craig Stephen Bryksa purchased 13,500 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The stock was acquired at an average cost of C$6.77 per share, for a total transaction of C$91,395.00. Over the last three months, insiders bought 16,970 shares of company stock worth $105,534.

Crescent Point Energy Company Profile

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, and Utah.

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Analyst Recommendations for Crescent Point Energy (TSE:CPG)

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