CIBC Raises Crescent Point Energy (TSE:CPG) Price Target to C$15.00

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its price objective raised by CIBC from C$14.00 to C$15.00 in a research report report published on Monday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts also recently issued reports on CPG. Raymond James reduced their price objective 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. Stifel Nicolaus increased their price objective on Crescent Point Energy from C$14.00 to C$14.50 and gave the stock a buy rating in a research note on Thursday, March 21st. BMO Capital Markets increased their price objective on Crescent Point Energy from C$12.00 to C$13.00 and gave the stock an outperform rating in a research note on Thursday, March 21st. National Bankshares increased their price objective on Crescent Point Energy from C$14.00 to C$19.00 and gave the stock an outperform rating in a research note on Friday, April 19th. Finally, ATB Capital increased their price objective on Crescent Point Energy from C$12.00 to C$13.00 in a research note on Monday. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of Buy and a consensus target price of C$14.55.

Crescent Point Energy Trading Up 0.2 %

Shares of TSE CPG opened at C$12.13 on Monday. Crescent Point Energy has a 12 month low of C$8.16 and a 12 month high of C$12.47. The company has a market cap of C$7.52 billion, a price-to-earnings ratio of 8.31, a P/E/G ratio of -0.59 and a beta of 2.86. The company has a quick ratio of 0.49, a current ratio of 0.76 and a debt-to-equity ratio of 54.04. The business has a fifty day simple moving average of C$10.70 and a 200-day simple moving average of C$9.96.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last announced its earnings results on Thursday, February 29th. The company reported C$0.37 EPS for the quarter, missing the consensus estimate of C$0.51 by C($0.14). Crescent Point Energy had a net margin of 17.88% and a return on equity of 11.97%. The company had revenue of C$1.01 billion for the quarter, compared to analysts’ expectations of C$1 billion. Sell-side analysts predict that Crescent Point Energy will post 1.430622 EPS for the current year.

Crescent Point Energy Increases Dividend

The company 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. 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. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.79%. Crescent Point Energy’s dividend payout ratio (DPR) is 31.51%.

Insider Transactions at Crescent Point Energy

In other news, Senior Officer William Garret Holt purchased 49,309 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was bought at an average cost of C$10.15 per share, with a total value of C$500,486.35. In other news, Senior Officer William Garret Holt purchased 49,309 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was bought at an average cost 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 firm’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. Company 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.