Crescent Point Energy (NYSE:CPG) Price Target Raised to C$13.50 at CIBC

Crescent Point Energy (NYSE:CPG – Get Rating) (TSE:CPG) had its price target raised by CIBC from C$13.00 to C$13.50 in a research report report published on Thursday morning, The Fly reports.

Other equities research analysts also recently issued reports about the company. StockNews.com initiated coverage on Crescent Point Energy in a research note on Thursday, March 31st. They issued a buy rating for the company. Scotiabank cut shares of Crescent Point Energy from an outperform rating to a sector perform rating in a report on Thursday, January 13th. TD Securities raised shares of Crescent Point Energy to a buy rating in a research report on Wednesday, January 5th. National Bank Financial increased their target price on shares of Crescent Point Energy from C$15.50 to C$20.00 in a research report on Thursday. Finally, Zacks Investment Research lowered shares of Crescent Point Energy from a buy rating to a hold rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Crescent Point Energy presently has a consensus rating of Buy and a consensus target price of $11.29.

CPG stock opened at $7.49 on Thursday. The company’s 50 day simple moving average is $7.02 and its 200-day simple moving average is $5.85. Crescent Point Energy has a 52-week low of $2.75 and a 52-week high of $7.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $4.30 billion, a P/E ratio of 2.30 and a beta of 2.47.

Crescent Point Energy (NYSE:CPG – Get Rating) (TSE:CPG) last announced its earnings results on Thursday, March 3rd. The oil and gas producer reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.06). The firm had revenue of $714.33 million for the quarter. Crescent Point Energy had a net margin of 72.41% and a return on equity of 10.92%. During the same quarter in the prior year, the business posted $0.12 earnings per share. Sell-side analysts predict that Crescent Point Energy will post 1.5 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of CPG. Parametric Portfolio Associates LLC raised its holdings in shares of Crescent Point Energy by 12.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 53,674 shares of the oil and gas producer’s stock valued at $243,000 after purchasing an additional 6,072 shares in the last quarter. Versor Investments LP raised its holdings in Crescent Point Energy by 88.5% during the third quarter. Versor Investments LP now owns 154,400 shares of the oil and gas producer’s stock valued at $711,000 after buying an additional 72,500 shares in the last quarter. Deutsche Bank AG raised its holdings in Crescent Point Energy by 221.0% during the third quarter. Deutsche Bank AG now owns 193,736 shares of the oil and gas producer’s stock valued at $893,000 after buying an additional 133,383 shares in the last quarter. Swiss National Bank lifted its position in shares of Crescent Point Energy by 10.5% in the third quarter. Swiss National Bank now owns 1,295,100 shares of the oil and gas producer’s stock worth $5,942,000 after buying an additional 122,600 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in shares of Crescent Point Energy by 12.3% during the 3rd quarter. Toronto Dominion Bank now owns 3,940,844 shares of the oil and gas producer’s stock worth $18,168,000 after acquiring an additional 431,344 shares in the last quarter. 40.94% of the stock is owned by institutional investors.

About Crescent Point Energy (Get Rating)

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.

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