Desjardins Boosts Crescent Point Energy (TSE:CPG) Price Target to C$14.00

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

Several other equities analysts have also recently weighed in on the company. Raymond James cut their price objective on Crescent Point Energy from C$16.50 to C$14.00 and set an outperform rating on the stock in a report on Friday, January 19th. Jefferies Financial Group boosted their target price on Crescent Point Energy from C$12.00 to C$14.00 in a research note on Tuesday. BMO Capital Markets boosted their target price on Crescent Point Energy from C$12.00 to C$13.00 and gave the company an outperform rating in a research note on Thursday, March 21st. Stifel Nicolaus boosted their target price on Crescent Point Energy from C$14.00 to C$14.50 and gave the company a buy rating in a research note on Thursday, March 21st. Finally, Canaccord Genuity Group boosted their target price on Crescent Point Energy from C$13.00 to C$14.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Crescent Point Energy has an average rating of Buy and a consensus target price of C$14.55.

Crescent Point Energy Price Performance

Crescent Point Energy stock opened at C$12.31 on Tuesday. The firm has a market capitalization of C$7.63 billion, a P/E ratio of 8.43, a PEG ratio of -0.59 and a beta of 2.86. Crescent Point Energy has a 1 year low of C$8.16 and a 1 year high of C$12.47. The business has a 50-day moving average of C$10.77 and a 200-day moving average of C$9.98. The company has a current ratio of 0.76, a quick ratio of 0.49 and a debt-to-equity ratio of 54.04.

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 (EPS) for the quarter, missing the consensus estimate 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 company had revenue of C$1.01 billion for the quarter, compared to analyst estimates of C$1 billion. On average, equities analysts anticipate that Crescent Point Energy will post 1.430622 EPS for the current year.

Crescent Point Energy Increases Dividend

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

Insiders Place Their Bets

In other Crescent Point Energy news, Senior Officer Mark Gordon Eade sold 34,497 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of C$11.83, for a total transaction of C$408,099.51. In other Crescent Point Energy news, Senior Officer William Garret Holt bought 49,309 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were acquired 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 business’s stock in a transaction that occurred 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.