Crescent Point Energy (TSE:CPG) Price Target Raised to C$14.00 at Canaccord Genuity Group

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its price objective hoisted by Canaccord Genuity Group from C$13.00 to C$14.00 in a research report sent to investors on Wednesday, BayStreet.CA reports. The firm currently has a buy rating on the stock.

Several other analysts have also issued reports on CPG. CIBC dropped their price objective on Crescent Point Energy from C$15.00 to C$14.00 and set an outperform rating on the stock in a research note on Tuesday, January 16th. ATB Capital dropped their price objective on Crescent Point Energy from C$13.00 to C$12.00 and set an outperform rating on the stock in a research note on Thursday, January 18th. Desjardins upped their price objective on Crescent Point Energy from C$12.00 to C$12.50 and gave the company a buy rating in a research note on Friday, March 22nd. Raymond James dropped their price objective on Crescent Point Energy from C$16.50 to C$14.00 and set an outperform rating on the stock in a research note on Friday, January 19th. Finally, BMO Capital Markets upped their price objective on Crescent Point Energy from C$12.00 to C$13.00 and gave the company 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, the stock has a consensus rating of Buy and an average price target of C$14.05.

Crescent Point Energy Stock Performance

CPG opened at C$11.96 on Wednesday. Crescent Point Energy has a 52-week low of C$8.16 and a 52-week high of C$12.47. The firm has a market capitalization of C$7.41 billion, a PE ratio of 8.19, a PEG ratio of -0.59 and a beta of 2.86. The company has a debt-to-equity ratio of 54.04, a quick ratio of 0.49 and a current ratio of 0.76. The business’s 50-day simple moving average is C$10.57 and its 200 day simple moving average is C$9.95.

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 (EPS) for the quarter, missing the consensus estimate of C$0.51 by C($0.14). Crescent Point Energy had a return on equity of 11.97% and a net margin of 17.88%. The company had revenue of C$1.01 billion for the quarter, compared to the consensus estimate of C$1 billion. As a group, sell-side analysts expect that Crescent Point Energy will post 1.430622 earnings per share for the current fiscal year.

Crescent Point Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a dividend of $0.115 per share. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.02. The ex-dividend date was Thursday, March 14th. This represents a $0.46 annualized dividend and a dividend yield of 3.85%. Crescent Point Energy’s dividend payout ratio (DPR) is 31.51%.

Insider Activity at Crescent Point Energy

In other news, Senior Officer William Garret Holt acquired 49,309 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average price of C$10.15 per share, with a total value of C$500,486.35. In other news, Senior Officer William Garret Holt acquired 49,309 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were bought 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 firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of C$11.83, for a total value of C$408,099.51. 0.23% of the stock is currently owned by company 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.