Crescent Point Energy (TSE:CPG) Price Target Increased to C$14.00 by Analysts at Desjardins

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its price target raised by Desjardins from C$12.50 to C$14.00 in a research note released on Tuesday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently issued reports on CPG. ATB Capital upped their price objective on Crescent Point Energy from C$12.00 to C$13.00 in a research report on Monday. Stifel Nicolaus upped their price objective on Crescent Point Energy from C$14.00 to C$14.50 and gave the company a buy rating in a research report on Thursday, March 21st. 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 report on Thursday, March 21st. Jefferies Financial Group upped their price objective on Crescent Point Energy from C$12.00 to C$14.00 in a research report on Tuesday. Finally, Canaccord Genuity Group upped their price objective on Crescent Point Energy from C$13.00 to C$14.00 and gave the company a buy rating in a research report on Wednesday, April 17th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, Crescent Point Energy presently has an average rating of Buy and a consensus target price of C$14.55.

Crescent Point Energy Stock Up 1.5 %

CPG stock opened at C$12.31 on Tuesday. Crescent Point Energy has a fifty-two week low of C$8.16 and a fifty-two week high of C$12.47. The business’s 50 day moving average price is C$10.77 and its two-hundred day moving average price is C$9.98. 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 company has a market capitalization of C$7.63 billion, a price-to-earnings ratio of 8.43, a price-to-earnings-growth ratio of -0.59 and a beta of 2.86.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last posted its 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). 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 for the quarter, compared to analysts’ expectations of C$1 billion. As a group, analysts forecast that Crescent Point Energy will post 1.430622 earnings per share for the current fiscal year.

Crescent Point Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.02. Crescent Point Energy’s payout ratio is currently 31.51%.

Insider Activity

In other Crescent Point Energy news, Senior Officer William Garret Holt acquired 49,309 shares of Crescent Point Energy stock in a transaction that occurred on Friday, March 8th. The stock was bought at an average price of C$10.15 per share, with a total value of C$500,486.35. In other Crescent Point Energy news, Senior Officer William Garret Holt acquired 49,309 shares of Crescent Point Energy stock in a transaction that occurred on Friday, March 8th. The stock was 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 company’s stock in a transaction 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. 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.