CIBC Raises Crescent Point Energy (TSE:CPG) Price Target to C$15.00

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its target price boosted by CIBC from C$14.00 to C$15.00 in a research note released on Monday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

CPG has been the subject of several other research reports. BMO Capital Markets raised their price target on shares of Crescent Point Energy from C$12.00 to C$13.00 and gave the company an outperform rating in a research report on Thursday, March 21st. ATB Capital lifted their price objective on shares of Crescent Point Energy from C$12.00 to C$13.00 in a research note on Monday. Desjardins boosted their price target on shares of Crescent Point Energy from C$12.00 to C$12.50 and gave the stock a buy rating in a research note on Friday, March 22nd. Canaccord Genuity Group boosted their price objective on shares of Crescent Point Energy from C$13.00 to C$14.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Finally, Stifel Nicolaus upped their price target on shares of Crescent Point Energy from C$14.00 to C$14.50 and gave the company a buy rating in a report on Thursday, March 21st. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of C$14.55.

Crescent Point Energy Stock Up 1.5 %

CPG opened at C$12.31 on Monday. The company has a market cap of C$7.63 billion, a PE ratio of 8.43, a price-to-earnings-growth ratio of -0.59 and a beta of 2.86. The company has a quick ratio of 0.49, a current ratio of 0.76 and a debt-to-equity ratio of 54.04. Crescent Point Energy has a twelve month low of C$8.16 and a twelve month high of C$12.47. The company has a 50-day moving average price of C$10.77 and a 200 day moving average price of C$9.98.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last announced its quarterly earnings results on Thursday, February 29th. The company reported C$0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.51 by C($0.14). The firm had revenue of C$1.01 billion for the quarter, compared to analyst estimates of C$1 billion. Crescent Point Energy had a return on equity of 11.97% and a net margin of 17.88%. 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.115 per share. This is a positive change from Crescent Point Energy’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.46 annualized dividend and a dividend yield of 3.74%. Crescent Point Energy’s dividend payout ratio (DPR) is 31.51%.

Insider Activity

In related news, Senior Officer Mark Gordon Eade sold 34,497 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of C$11.83, for a total transaction of C$408,099.51. In other news, Senior Officer Mark Gordon Eade sold 34,497 shares of Crescent Point Energy stock in a transaction that occurred 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. Also, Senior Officer William Garret Holt purchased 49,309 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was purchased at an average cost of C$10.15 per share, for a total transaction of C$500,486.35. 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.