Crescent Point Energy (NYSE:CPG) Price Target Lowered to C$13.00 at Scotiabank

Crescent Point Energy (NYSE:CPG – Get Rating) (TSE:CPG) had its price objective trimmed by Scotiabank from C$15.00 to C$13.00 in a report issued on Tuesday, The Fly reports.

Several other research firms have also issued reports on CPG. StockNews.com started coverage on shares of Crescent Point Energy in a research report on Wednesday, October 12th. They set a buy rating on the stock. Stifel Nicolaus dropped their price objective on shares of Crescent Point Energy from C$17.00 to C$16.00 in a research note on Monday, December 12th. Finally, National Bank Financial dropped their price objective on shares of Crescent Point Energy from C$17.00 to C$15.00 in a research note on Wednesday, January 11th.

Crescent Point Energy Stock Up 0.8 %

Shares of CPG opened at $7.21 on Tuesday. Crescent Point Energy has a 52 week low of $5.51 and a 52 week high of $10.96. The firm has a market cap of $3.97 billion, a P/E ratio of 2.54 and a beta of 2.22. The firm’s 50-day simple moving average is $7.27 and its 200 day simple moving average is $7.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.61 and a current ratio of 0.61.

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

Crescent Point Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Wednesday, March 15th will be paid a $0.075 dividend. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $0.30 annualized dividend and a yield of 4.16%. Crescent Point Energy’s dividend payout ratio is presently 8.45%.

Hedge Funds Weigh In On Crescent Point Energy

Large investors have recently modified their holdings of the business. Aigen Investment Management LP raised its stake in shares of Crescent Point Energy by 720.7% during the second quarter. Aigen Investment Management LP now owns 154,539 shares of the oil and gas producer’s stock valued at $1,099,000 after acquiring an additional 135,709 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC bought a new position in shares of Crescent Point Energy during the second quarter valued at $4,596,000. Mirabella Financial Services LLP bought a new position in shares of Crescent Point Energy during the third quarter valued at $124,000. DGS Capital Management LLC raised its stake in shares of Crescent Point Energy by 33.0% during the second quarter. DGS Capital Management LLC now owns 64,194 shares of the oil and gas producer’s stock valued at $457,000 after acquiring an additional 15,943 shares during the last quarter. Finally, Cerity Partners LLC bought a new position in shares of Crescent Point Energy during the second quarter valued at $175,000. Institutional investors own 32.71% of the company’s stock.

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.