Crescent Point Energy (CPG) Stock Forecast, Price & News

Crescent Point Energy Corp. explores, develops, and produces light and medium crude oil, natural gas liquids, and natural gas reserves in Western Canada and the United States. It'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 and Montana. The company was incorporated in 1994 and is headquartered in Calgary, Canada.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CPG. Raymond James upped their target price on shares of Crescent Point Energy from C$12.00 to C$12.50 and gave the stock a "market perform" rating in a research report on Tuesday, July 5th. CIBC upped their price target on shares of Crescent Point Energy from C$13.00 to C$13.50 in a research report on Thursday, April 14th. National Bankshares cut their price target on shares of Crescent Point Energy from C$21.00 to C$20.00 and set an "outperform" rating for the company in a research report on Thursday, July 28th. Scotiabank upgraded shares of Crescent Point Energy from a "sector perform" rating to a "buy" rating and upped their price target for the company from C$11.50 to C$15.00 in a research report on Wednesday, June 8th. Finally, Stifel Nicolaus upped their price target on shares of Crescent Point Energy from C$15.50 to C$17.00 in a research report on Monday, July 4th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of C$13.35.

Crescent Point Energy Trading Up 5.6 %

Shares of TSE:CPG traded up C$0.48 during midday trading on Friday, hitting C$9.08. 4,862,507 shares of the stock traded hands, compared to its average volume of 6,392,960. The stock has a market capitalization of C$5.15 billion and a PE ratio of 1.49. The business's 50 day moving average is C$10.15 and its two-hundred day moving average is C$9.40. The company has a quick ratio of 0.35, a current ratio of 0.59 and a debt-to-equity ratio of 24.59. Crescent Point Energy has a one year low of C$3.67 and a one year high of C$13.74.

Crescent Point Energy (TSE:CPG - Get Rating) (NYSE:CPG) last issued its quarterly earnings data on Wednesday, July 27th. The company reported C$0.47 EPS for the quarter, missing the consensus estimate of C$0.56 by C($0.09). The firm had revenue of C$1.32 billion for the quarter. As a group, research analysts forecast that Crescent Point Energy will post 2.67 earnings per share for the current year.

Crescent Point Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 3.52%. This is an increase from Crescent Point Energy's previous quarterly dividend of $0.07. The ex-dividend date is Wednesday, September 14th. Crescent Point Energy's dividend payout ratio is 2.34%.

Insider Buying and Selling

In related news, Senior Officer Mark Gordon Eade sold 13,977 shares of the stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of C$13.59, for a total value of C$189,947.43. Following the completion of the transaction, the insider now directly owns 162,161 shares of the company's stock, valued at C$2,203,767.99.