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

Crescent Point Energy (TSE:CPG - Free Report) NYSE: CPG had its target price boosted by CIBC from C$14.00 to C$15.00 in a report published on Monday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Other equities research analysts have also issued reports about the stock. Canaccord Genuity Group lifted their price target on shares of 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. Raymond James decreased their price objective on shares of Crescent Point Energy from C$16.50 to C$14.00 and set an outperform rating for the company in a research report on Friday, January 19th. Jefferies Financial Group lifted their price objective on shares of Crescent Point Energy from C$12.00 to C$14.00 and gave the company a buy rating in a research report on Tuesday, April 16th. BMO Capital Markets lifted their target price on shares of Crescent Point Energy from C$12.00 to C$13.00 and gave the stock an outperform rating in a report on Thursday, March 21st. Finally, Stifel Nicolaus lifted their target price on shares of Crescent Point Energy from C$14.00 to C$14.50 and gave the stock a buy rating in a report on Thursday, March 21st. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of Buy and an average price target of C$14.25.

Crescent Point Energy Price Performance

Shares of CPG stock traded down C$0.06 during trading hours on Monday, reaching C$11.90. 2,714,736 shares of the company were exchanged, compared to its average volume of 3,413,309. Crescent Point Energy has a fifty-two week low of C$8.16 and a fifty-two week high of C$12.47. The stock's fifty day moving average is C$10.63 and its two-hundred day moving average is C$9.95. The company has a market cap of C$7.38 billion, a price-to-earnings ratio of 8.15, a P/E/G ratio of -0.59 and a beta of 2.86. The company has a debt-to-equity ratio of 54.04, a current ratio of 0.76 and a quick ratio of 0.49.

Crescent Point Energy (TSE:CPG - Get Free Report) NYSE: CPG last announced its quarterly earnings data on Thursday, February 29th. The company reported C$0.37 earnings per share 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 business had revenue of C$1.01 billion during the quarter, compared to analyst estimates of C$1 billion. Sell-side analysts forecast that Crescent Point Energy will post 1.430622 earnings per share for the current fiscal year.

Crescent Point Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 3.87%. This is a positive change from Crescent Point Energy's previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Thursday, March 14th. Crescent Point Energy's payout ratio is presently 31.51%.

Insider Activity

In related news, Senior Officer William Garret Holt bought 49,309 shares of the business'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. In related news, Senior Officer Mark Gordon Eade sold 34,497 shares of the firm's stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of C$11.83, for a total transaction of C$408,099.51. Also, Senior Officer William Garret Holt acquired 49,309 shares of the firm's stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average price of C$10.15 per share, with a total value of C$500,486.35. Insiders own 0.23% of the company's stock.

Crescent Point Energy Company Profile

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.