Crescent Point Energy (NYSE:CPG) Receives “Hold” Rating from Royal Bank of Canada

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Crescent Point Energy (NYSE:CPG) (TSE:CPG)‘s stock had its “hold” rating reissued by investment analysts at Royal Bank of Canada in a report issued on Thursday, AnalystRatings.com reports. They currently have a $6.00 target price on the oil and gas producer’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 92.31% from the company’s previous close.

A number of other brokerages also recently commented on CPG. Macquarie raised shares of Husky Energy from an “underperform” rating to a “neutral” rating in a report on Thursday, April 11th. Zacks Investment Research downgraded shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a report on Wednesday. CIBC raised shares of Crescent Point Energy from a “neutral” rating to a “sector outperform” rating in a report on Thursday, May 9th. Canaccord Genuity reissued a “hold” rating and issued a $20.00 price objective (down previously from $29.00) on shares of Sailpoint Technologies in a research note on Thursday, May 9th. Finally, Raymond James reissued a “buy” rating on shares of Canadian Natural Resources in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $4.77.

Shares of NYSE:CPG opened at $3.12 on Thursday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.62. Crescent Point Energy has a 12 month low of $2.43 and a 12 month high of $7.41. The firm has a 50-day simple moving average of $3.19. The company has a market cap of $1.67 billion, a P/E ratio of 9.45 and a beta of 1.08.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last announced its quarterly earnings results on Thursday, May 9th. The oil and gas producer reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.20. Crescent Point Energy had a negative net margin of 67.99% and a positive return on equity of 4.22%. The firm had revenue of $671.24 million during the quarter, compared to the consensus estimate of $621.98 million. During the same quarter last year, the firm earned $0.12 EPS. As a group, equities research analysts predict that Crescent Point Energy will post 0.36 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Crescent Point Energy in the fourth quarter worth about $21,929,000. BlackRock Inc. lifted its stake in Crescent Point Energy by 1.8% in the fourth quarter. BlackRock Inc. now owns 303,255 shares of the oil and gas producer’s stock worth $916,000 after purchasing an additional 5,393 shares during the last quarter. K.J. Harrison & Partners Inc lifted its stake in Crescent Point Energy by 163.8% in the first quarter. K.J. Harrison & Partners Inc now owns 515,399 shares of the oil and gas producer’s stock worth $1,670,000 after purchasing an additional 320,000 shares during the last quarter. Virtu Financial LLC lifted its stake in Crescent Point Energy by 363.8% in the first quarter. Virtu Financial LLC now owns 85,617 shares of the oil and gas producer’s stock worth $277,000 after purchasing an additional 67,157 shares during the last quarter. Finally, Waratah Capital Advisors Ltd. bought a new stake in Crescent Point Energy in the first quarter worth about $8,878,000. 32.35% of the stock is owned by institutional investors and hedge funds.

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.

Read More: Cost of Equity For A Business, Investors

Analyst Recommendations for Crescent Point Energy (NYSE:CPG)

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