Stifel Nicolaus Raises Crescent Point Energy (TSE:CPG) Price Target to C$16.00

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its target price raised by Stifel Nicolaus from C$14.25 to C$16.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. CIBC raised their target price on shares of Crescent Point Energy from C$14.00 to C$15.00 and gave the stock an outperform rating in a report on Monday. Canaccord Genuity Group upped their price target on shares of Crescent Point Energy from C$13.00 to C$14.00 and gave the stock a buy rating in a report on Wednesday, April 17th. BMO Capital Markets raised 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 research report on Thursday, March 21st. Raymond James lowered their price target on Crescent Point Energy from C$16.50 to C$14.00 and set an outperform rating for the company in a report on Friday, January 19th. Finally, National Bankshares raised their price objective on Crescent Point Energy from C$14.00 to C$19.00 and gave the stock an outperform rating in a report on Friday, April 19th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Crescent Point Energy presently has a consensus rating of Buy and a consensus target price of C$14.55.

Crescent Point Energy Stock Performance

TSE CPG opened at C$12.10 on Tuesday. 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 has a 1-year low of C$8.16 and a 1-year high of C$12.47. The business has a 50 day simple moving average of C$10.63 and a two-hundred day simple moving average of C$9.95. The stock has a market capitalization of C$7.50 billion, a PE ratio of 8.29, a P/E/G ratio of -0.59 and a beta of 2.86.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last announced its quarterly earnings results 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 return on equity of 11.97% and a net margin of 17.88%. The business had revenue of C$1.01 billion during the quarter, compared to the consensus estimate of C$1 billion. On average, research analysts predict that Crescent Point Energy will post 1.430622 EPS for the current fiscal year.

Crescent Point Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.115 per share. This is a boost from Crescent Point Energy’s previous quarterly dividend of $0.02. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date was Thursday, March 14th. Crescent Point Energy’s dividend payout ratio is 31.51%.

Insiders Place Their Bets

In other news, Senior Officer William Garret Holt purchased 49,309 shares of the business’s stock in a transaction 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 William Garret Holt acquired 49,309 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average cost of C$10.15 per share, with a total value of C$500,486.35. Also, Senior Officer Mark Gordon Eade sold 34,497 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of C$11.83, for a total transaction of C$408,099.51. 0.23% of the stock is currently owned by corporate insiders.

About Crescent Point Energy

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.