Shares of Crescent Point Energy Corp (NYSE:CPG) (TSE:CPG) have earned a consensus rating of “Buy” from the eight ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $4.35.
A number of research firms recently commented on CPG. Zacks Investment Research upgraded Crescent Point Energy from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Tuesday, April 23rd. Macquarie upgraded Crescent Point Energy from a “neutral” rating to an “outperform” rating and set a $4.06 price objective for the company in a research report on Thursday, April 11th. Raymond James reiterated a “hold” rating on shares of Crescent Point Energy in a research report on Friday, May 10th. CIBC upgraded Crescent Point Energy from a “neutral” rating to a “sector outperform” rating in a research report on Thursday, May 9th. Finally, Canaccord Genuity upgraded Crescent Point Energy to a “buy” rating in a research report on Thursday, May 9th.
Shares of CPG stock traded up $0.06 during mid-day trading on Thursday, hitting $4.01. The company’s stock had a trading volume of 1,271,041 shares, compared to its average volume of 2,993,194. Crescent Point Energy has a 52-week low of $2.43 and a 52-week high of $8.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market capitalization of $2.19 billion, a P/E ratio of 12.15 and a beta of 1.12.
Crescent Point Energy (NYSE:CPG) (TSE:CPG) last posted its quarterly earnings results on Thursday, May 9th. The oil and gas producer reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.20. Crescent Point Energy had a positive return on equity of 4.22% and a negative net margin of 67.99%. The firm had revenue of $671.24 million during the quarter, compared to analysts’ expectations of $621.98 million. During the same quarter in the previous year, the business earned $0.12 earnings per share. As a group, analysts anticipate that Crescent Point Energy will post 0.17 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Saturday, June 15th will be issued a dividend of $0.007 per share. This represents a $0.03 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, June 13th. Crescent Point Energy’s dividend payout ratio is presently 9.09%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new position in shares of Crescent Point Energy in the first quarter worth about $29,000. Stratos Wealth Partners LTD. bought a new position in shares of Crescent Point Energy in the first quarter worth about $32,000. Cidel Asset Management Inc. bought a new position in shares of Crescent Point Energy in the fourth quarter worth about $36,000. Private Advisor Group LLC bought a new position in shares of Crescent Point Energy in the fourth quarter worth about $38,000. Finally, Advisor Partners LLC bought a new position in shares of Crescent Point Energy in the fourth quarter worth about $41,000. 36.87% of the stock is owned by hedge funds and other institutional investors.
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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