ValuEngine Upgrades Crescent Point Energy (NYSE:CPG) to Hold

Crescent Point Energy (NYSE:CPG) (TSE:CPG) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.

Several other research firms have also recently issued reports on CPG. BMO Capital Markets cut Crescent Point Energy from an “outperform” rating to a “market perform” rating in a report on Monday, March 16th. TD Securities decreased their price objective on Crescent Point Energy from $2.25 to $2.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. CIBC raised their price objective on Crescent Point Energy from $2.25 to $2.50 and gave the stock a “neutral” rating in a report on Thursday, May 21st. Scotiabank lowered Crescent Point Energy from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, June 15th. Finally, Royal Bank of Canada increased their target price on Crescent Point Energy from $2.50 to $2.75 and gave the stock a “sector perform” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $3.58.

CPG stock opened at $1.64 on Thursday. Crescent Point Energy has a 52-week low of $0.51 and a 52-week high of $4.84. The stock’s fifty day simple moving average is $1.62 and its 200-day simple moving average is $2.28. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $868.05 million, a price-to-earnings ratio of -0.36 and a beta of 2.69.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last posted its quarterly earnings data on Wednesday, May 6th. The oil and gas producer reported ($4.40) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($4.49). Crescent Point Energy had a positive return on equity of 5.14% and a negative net margin of 108.19%. The business had revenue of $408.90 million for the quarter, compared to analyst estimates of $450.65 million. As a group, analysts anticipate that Crescent Point Energy will post -0.11 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. UBS Asset Management Americas Inc. raised its position in shares of Crescent Point Energy by 8.1% in the 4th quarter. UBS Asset Management Americas Inc. now owns 870,544 shares of the oil and gas producer’s stock worth $3,887,000 after buying an additional 65,127 shares during the period. Alberta Investment Management Corp raised its position in Crescent Point Energy by 25.3% in the fourth quarter. Alberta Investment Management Corp now owns 2,462,800 shares of the oil and gas producer’s stock valued at $10,996,000 after purchasing an additional 496,500 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Crescent Point Energy by 34.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,877,527 shares of the oil and gas producer’s stock valued at $70,893,000 after purchasing an additional 4,104,726 shares during the period. Legal & General Group Plc raised its position in Crescent Point Energy by 4.3% in the first quarter. Legal & General Group Plc now owns 1,530,053 shares of the oil and gas producer’s stock valued at $1,172,000 after purchasing an additional 63,030 shares during the period. Finally, Two Sigma Securities LLC purchased a new position in Crescent Point Energy in the first quarter valued at about $35,000. 30.56% of the stock is currently owned by institutional investors and hedge funds.

Crescent Point Energy Company Profile

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, Montana, and Utah.

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Analyst Recommendations for Crescent Point Energy (NYSE:CPG)

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