Raymond James Reiterates Market Perform Rating for Crescent Point Energy (CPG)

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Raymond James reaffirmed their market perform rating on shares of Crescent Point Energy (TSE:CPG) (NYSE:CPG) in a research report sent to investors on Friday, BayStreet.CA reports. Raymond James currently has a C$7.00 target price on the stock.

Several other research analysts have also recently issued reports on the company. TD Securities increased their price target on Crescent Point Energy from C$7.50 to C$8.00 and gave the stock a buy rating in a research note on Wednesday, January 16th. CIBC decreased their price target on Crescent Point Energy from C$9.00 to C$7.50 in a research note on Wednesday, January 16th. Canaccord Genuity cut Crescent Point Energy from a buy rating to a speculative buy rating and decreased their price target for the stock from C$13.00 to C$7.00 in a research note on Thursday, January 10th. Finally, National Bank Financial increased their price target on Crescent Point Energy from C$6.50 to C$8.50 in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Crescent Point Energy presently has an average rating of Buy and a consensus price target of C$8.85.

TSE:CPG opened at C$5.13 on Friday. Crescent Point Energy has a 1 year low of C$3.24 and a 1 year high of C$11.26. The firm has a market capitalization of $2.78 billion and a PE ratio of -1.08. The company has a quick ratio of 0.49, a current ratio of 0.85 and a debt-to-equity ratio of 64.67.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last released its quarterly earnings results on Thursday, March 7th. The company reported C($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.12 by C($0.15). The firm had revenue of C$791.60 million during the quarter, compared to the consensus estimate of C$988.50 million. As a group, sell-side analysts predict that Crescent Point Energy will post 0.2899999884 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Saturday, June 15th will be paid a $0.01 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.78%. Crescent Point Energy’s payout ratio is -7.55%.

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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Analyst Recommendations for Crescent Point Energy (TSE:CPG)

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