Crescent Point Energy (NYSE:CPG) Given New C$15.00 Price Target at CIBC

Crescent Point Energy (NYSE:CPG – Get Rating) (TSE:CPG) had its price objective trimmed by CIBC from C$16.00 to C$15.00 in a report released on Tuesday morning, The Fly reports.

Several other research analysts have also recently weighed in on the stock. National Bank Financial decreased their price objective on shares of Crescent Point Energy from C$17.00 to C$15.00 in a research report on Wednesday, January 11th. Scotiabank cut their target price on shares of Crescent Point Energy from C$15.00 to C$13.00 in a research report on Tuesday. Stifel Nicolaus lowered their price target on Crescent Point Energy from C$17.00 to C$16.00 in a research report on Monday, December 12th. Finally, StockNews.com assumed coverage on Crescent Point Energy in a research note on Wednesday, October 12th. They set a buy rating for the company.

Crescent Point Energy Trading Up 0.8 %

Shares of CPG stock opened at $7.21 on Tuesday. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 2.54 and a beta of 2.22. Crescent Point Energy has a 1 year low of $5.51 and a 1 year high of $10.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.61 and a quick ratio of 0.61. The company’s fifty day simple moving average is $7.27 and its two-hundred day simple moving average is $7.25.

Crescent Point Energy (NYSE:CPG – Get Rating) (TSE:CPG) last issued its earnings results on Wednesday, October 26th. The oil and gas producer reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. Crescent Point Energy had a return on equity of 14.13% and a net margin of 48.44%. The business had revenue of $881.85 million during the quarter. As a group, analysts anticipate that Crescent Point Energy will post 2.83 earnings per share for the current year.

Crescent Point Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Wednesday, March 15th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 4.16%. This is a positive change from Crescent Point Energy’s previous quarterly dividend of $0.06. Crescent Point Energy’s dividend payout ratio (DPR) is currently 8.45%.

Institutional Trading of Crescent Point Energy

Several hedge funds have recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. grew its holdings in shares of Crescent Point Energy by 14.0% in the second quarter. Stratos Wealth Partners LTD. now owns 12,200 shares of the oil and gas producer’s stock worth $87,000 after purchasing an additional 1,500 shares during the last quarter. Bank of Nova Scotia boosted its position in Crescent Point Energy by 0.3% during the 2nd quarter. Bank of Nova Scotia now owns 689,593 shares of the oil and gas producer’s stock valued at $4,902,000 after buying an additional 1,965 shares during the period. First Trust Advisors LP grew its holdings in Crescent Point Energy by 15.9% in the 1st quarter. First Trust Advisors LP now owns 15,100 shares of the oil and gas producer’s stock worth $109,000 after acquiring an additional 2,073 shares during the last quarter. Tacita Capital Inc increased its position in shares of Crescent Point Energy by 4.4% in the third quarter. Tacita Capital Inc now owns 52,670 shares of the oil and gas producer’s stock valued at $327,000 after acquiring an additional 2,200 shares during the period. Finally, Credit Suisse AG raised its stake in shares of Crescent Point Energy by 0.4% during the third quarter. Credit Suisse AG now owns 630,276 shares of the oil and gas producer’s stock valued at $3,883,000 after acquiring an additional 2,388 shares during the last quarter. 32.71% of the stock is owned by institutional investors.

Crescent Point Energy Company Profile

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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.