CIBC Reaffirms “Outperform” Rating for Crescent Point Energy (TSE:CPG)

CIBC reaffirmed their outperform rating on shares of Crescent Point Energy (TSE:CPG) (NYSE:CPG) in a report published on Tuesday morning, Stock Target Advisor reports. The brokerage currently has a C$7.00 price objective on the stock.

Several other brokerages have also commented on CPG. Scotiabank increased their price target on shares of Crescent Point Energy from C$4.25 to C$6.00 and gave the company an outperform rating in a research note on Friday, February 19th. Royal Bank of Canada increased their price target on shares of Crescent Point Energy from C$3.75 to C$6.50 and gave the company a sector perform rating in a research note on Friday, February 19th. Canaccord Genuity increased their price target on shares of Crescent Point Energy from C$6.00 to C$6.50 and gave the company an outperform rating in a research note on Wednesday, March 31st. Tudor Pickering & Holt restated a hold rating on shares of Crescent Point Energy in a research report on Thursday, February 25th. Finally, Stifel Nicolaus raised their target price on shares of Crescent Point Energy from C$4.50 to C$5.25 in a research report on Friday, February 19th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of C$6.67.

Shares of TSE:CPG opened at C$5.57 on Tuesday. The company has a 50 day moving average price of C$5.02. The firm has a market capitalization of C$3.24 billion and a PE ratio of -16.93. Crescent Point Energy has a fifty-two week low of C$1.41 and a fifty-two week high of C$5.87. The company has a current ratio of 0.47, a quick ratio of 0.34 and a debt-to-equity ratio of 81.22.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last issued its earnings results on Wednesday, May 12th. The company reported C$0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.12 by C$0.06. The firm had revenue of C$625.50 million during the quarter. On average, research analysts predict that Crescent Point Energy will post 0.79 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 2nd. Investors of record on Tuesday, June 15th will be given a $0.002 dividend. The ex-dividend date is Monday, June 14th. This represents a $0.01 dividend on an annualized basis and a yield of 0.14%. Crescent Point Energy’s dividend payout ratio (DPR) is -2.28%.

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 and Montana.

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Analyst Recommendations for Crescent Point Energy (TSE:CPG)

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