Crescent Point Energy (NYSE:CPG) Price Target Raised to $2.75

Crescent Point Energy (NYSE:CPG) (TSE:CPG) had its target price boosted by Royal Bank of Canada from $2.50 to $2.75 in a research report released on Friday morning, The Fly reports. Royal Bank of Canada currently has a sector perform rating on the oil and gas producer’s stock.

Several other research analysts have also weighed in on CPG. CIBC lifted their price objective on Crescent Point Energy from $2.25 to $2.50 and gave the stock a neutral rating in a research report on Thursday, May 21st. ValuEngine downgraded Crescent Point Energy from a hold rating to a sell rating in a research note on Wednesday, June 17th. Canaccord Genuity raised their target price on Crescent Point Energy from $1.50 to $1.75 and gave the company a hold rating in a research note on Thursday, May 7th. Tudor Pickering downgraded Crescent Point Energy from a buy rating to a hold rating in a research note on Wednesday, March 25th. Finally, Raymond James downgraded Crescent Point Energy to a sell rating and set a $1.25 target price for the company. in a research note on Thursday, March 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $3.58.

CPG stock opened at $1.65 on Friday. The stock has a 50-day moving average price of $1.58 and a 200-day moving average price of $2.34. Crescent Point Energy has a 1-year low of $0.51 and a 1-year high of $4.84. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.86. The firm has a market cap of $836.29 million, a PE ratio of -0.36 and a beta of 2.68.

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 for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $450.65 million. On average, analysts forecast that Crescent Point Energy will post -0.11 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank boosted its stake in Crescent Point Energy by 1.0% during the 1st quarter. Swiss National Bank now owns 1,061,100 shares of the oil and gas producer’s stock valued at $807,000 after purchasing an additional 10,200 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Crescent Point Energy by 2.6% during the 1st quarter. Mackenzie Financial Corp now owns 559,878 shares of the oil and gas producer’s stock valued at $430,000 after purchasing an additional 14,423 shares during the last quarter. Blueshift Asset Management LLC acquired a new position in Crescent Point Energy during the 4th quarter valued at about $68,000. Citigroup Inc. boosted its stake in Crescent Point Energy by 99.5% during the 4th quarter. Citigroup Inc. now owns 31,962 shares of the oil and gas producer’s stock valued at $143,000 after purchasing an additional 15,943 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in Crescent Point Energy by 2.5% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 686,752 shares of the oil and gas producer’s stock valued at $528,000 after purchasing an additional 17,000 shares during the last quarter. Institutional investors and hedge funds own 30.56% of the company’s stock.

About Crescent Point Energy

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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