Crescent Point Energy (TSE:CPG) Price Target Raised to C$16.00

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its target price boosted by Stifel Nicolaus from C$14.25 to C$16.00 in a report published on Tuesday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other analysts also recently issued reports on the company. ATB Capital upped their price target on Crescent Point Energy from C$12.00 to C$13.00 in a research note on Monday. Jefferies Financial Group increased their target price on Crescent Point Energy from C$12.00 to C$14.00 in a research note on Tuesday. Raymond James decreased their target price on Crescent Point Energy from C$16.50 to C$14.00 and set an outperform rating for the company in a research note on Friday, January 19th. Canaccord Genuity Group increased their target price on Crescent Point Energy from C$13.00 to C$14.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Finally, BMO Capital Markets increased their target price 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, Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of C$14.55.

Crescent Point Energy Stock Performance

Shares of CPG stock opened at C$12.31 on Tuesday. The company has a debt-to-equity ratio of 54.04, a current ratio of 0.76 and a quick ratio of 0.49. Crescent Point Energy has a fifty-two week low of C$8.16 and a fifty-two week high of C$12.47. The stock’s 50-day moving average is C$10.77 and its two-hundred day moving average is C$9.98. The firm has a market cap of C$7.63 billion, a P/E ratio of 8.43, a PEG ratio of -0.59 and a beta of 2.86.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last issued its earnings results on Thursday, February 29th. The company reported C$0.37 earnings per share 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 firm had revenue of C$1.01 billion during the quarter, compared to analyst estimates of C$1 billion. Analysts predict 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 announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 3.74%. This is a boost from Crescent Point Energy’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Thursday, March 14th. Crescent Point Energy’s payout ratio is presently 31.51%.

Insider Transactions at Crescent Point Energy

In other news, Senior Officer Mark Gordon Eade sold 34,497 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of C$11.83, for a total transaction of C$408,099.51. In related news, Senior Officer William Garret Holt bought 49,309 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were acquired at an average price of C$10.15 per share, for a total transaction of C$500,486.35. Also, Senior Officer Mark Gordon Eade sold 34,497 shares of the company’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. 0.23% of the stock is owned by 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.