BMO Capital Markets Raises Crescent Point Energy (TSE:CPG) Price Target to C$14.00

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its target price boosted by BMO Capital Markets from C$13.00 to C$14.00 in a research report sent to investors on Tuesday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

CPG has been the topic of several other reports. Stifel Nicolaus raised their price target on Crescent Point Energy from C$14.25 to C$16.00 and gave the company a buy rating in a research report on Tuesday, April 23rd. Desjardins raised their price objective on shares of Crescent Point Energy from C$12.50 to C$14.00 and gave the stock a buy rating in a research note on Tuesday, April 23rd. ATB Capital raised their price target on shares of Crescent Point Energy from C$12.00 to C$13.00 in a research report on Monday, April 22nd. Raymond James reduced their price objective on Crescent Point Energy from C$16.50 to C$14.00 and set an outperform rating for the company in a research report on Friday, January 19th. Finally, National Bankshares upped their target price on shares of Crescent Point Energy from C$14.00 to C$19.00 and gave the company an outperform rating in a research note on Friday, April 19th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of Buy and an average price target of C$14.70.

Crescent Point Energy Stock Performance

CPG opened at C$12.15 on Tuesday. The stock has a 50-day moving average of C$11.26 and a 200-day moving average of C$10.04. The company has a debt-to-equity ratio of 54.04, a quick ratio of 0.49 and a current ratio of 0.76. Crescent Point Energy has a 52-week low of C$8.16 and a 52-week high of C$12.67. The company has a market cap of C$7.53 billion, a PE ratio of 8.32, a price-to-earnings-growth 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 EPS for the quarter, missing the consensus estimate of C$0.51 by C($0.14). Crescent Point Energy had a net margin of 17.88% and a return on equity of 11.97%. The company had revenue of C$1.01 billion for the quarter, compared to analyst estimates of C$1 billion. As a group, equities research analysts forecast that Crescent Point Energy will post 1.430622 earnings per share for the current fiscal year.

Crescent Point Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a $0.115 dividend. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.02. This represents a $0.46 annualized dividend and a dividend yield of 3.79%. The ex-dividend date was Thursday, March 14th. Crescent Point Energy’s payout ratio is presently 31.51%.

Insider Buying and Selling

In other Crescent Point Energy news, Senior Officer William Garret Holt acquired 49,309 shares of the business’s stock in a transaction on Friday, March 8th. The stock was purchased at an average price of C$10.15 per share, for a total transaction of C$500,486.35. In related news, Senior Officer William Garret Holt acquired 49,309 shares of the stock in a transaction on Friday, March 8th. The stock was purchased at an average price of C$10.15 per share, for a total transaction of C$500,486.35. Also, Senior Officer Mark Gordon Eade sold 34,497 shares of the business’s stock in a transaction dated 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 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.