Crescent Point Energy (TSE:CPG) Price Target Raised to C$14.00

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its price objective lifted by research analysts at Desjardins from C$12.50 to C$14.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price objective suggests a potential upside of 15.70% from the stock’s current price.

Several other brokerages also recently issued reports on CPG. BMO Capital Markets boosted their target price on shares of 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. Jefferies Financial Group lifted their target price on Crescent Point Energy from C$12.00 to C$14.00 in a research note on Tuesday. National Bankshares raised their price target on shares of Crescent Point Energy from C$14.00 to C$19.00 and gave the stock an “outperform” rating in a report on Friday. CIBC increased their target price on shares of Crescent Point Energy from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Raymond James lowered their price target on shares of Crescent Point Energy from C$16.50 to C$14.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$14.55.

Crescent Point Energy Price Performance

Shares of TSE CPG traded up C$0.20 during trading on Tuesday, hitting C$12.10. The company had a trading volume of 1,681,238 shares, compared to its average volume of 3,390,540. The business’s 50-day moving average is C$10.63 and its 200 day moving average is C$9.95. The company has a market cap of C$7.50 billion, a P/E ratio of 8.26, 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. Crescent Point Energy has a 52 week low of C$8.16 and a 52 week high of C$12.47.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last issued its quarterly earnings results on Thursday, February 29th. The company reported C$0.37 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.51 by C($0.14). The company had revenue of C$1.01 billion during the quarter, compared to analysts’ expectations of C$1 billion. Crescent Point Energy had a return on equity of 11.97% and a net margin of 17.88%. Equities research analysts predict that Crescent Point Energy will post 1.430622 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Senior Officer Mark Gordon Eade sold 34,497 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of C$11.83, for a total value of C$408,099.51. In other Crescent Point Energy news, Senior Officer William Garret Holt purchased 49,309 shares of the stock in a transaction dated Friday, March 8th. The shares were bought at an average cost 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 business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of C$11.83, for a total value of C$408,099.51. Company insiders own 0.23% of the company’s stock.

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.