Crescent Point Energy (NYSE:CPG) PT Raised to $14.00

Crescent Point Energy (NYSE:CPG) (TSE:CPG) had its target price increased by stock analysts at BMO Capital Markets from $13.00 to $14.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the oil and gas producer’s stock. BMO Capital Markets’ target price suggests a potential upside of 60.27% from the stock’s previous close.

Crescent Point Energy Price Performance

Crescent Point Energy stock opened at $8.74 on Tuesday. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 12.48 and a beta of 2.17. The stock’s 50 day moving average is $8.30 and its 200-day moving average is $7.41. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. Crescent Point Energy has a 12 month low of $6.03 and a 12 month high of $9.28.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last released its quarterly earnings results on Thursday, February 29th. The oil and gas producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.11). The business had revenue of $743.70 million during the quarter, compared to analyst estimates of $752.25 million. Crescent Point Energy had a net margin of 15.40% and a return on equity of 13.27%. Equities research analysts expect that Crescent Point Energy will post 1.17 EPS for the current year.

Institutional Investors Weigh In On Crescent Point Energy

Several hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank increased its position in Crescent Point Energy by 11.3% in the 1st quarter. Swiss National Bank now owns 1,182,800 shares of the oil and gas producer’s stock valued at $9,672,000 after acquiring an additional 120,500 shares during the period. Easterly Investment Partners LLC increased its holdings in Crescent Point Energy by 132.0% in the first quarter. Easterly Investment Partners LLC now owns 264,255 shares of the oil and gas producer’s stock valued at $2,164,000 after purchasing an additional 150,350 shares during the period. Blume Capital Management Inc. lifted its holdings in Crescent Point Energy by 75.0% during the 1st quarter. Blume Capital Management Inc. now owns 3,500 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 1,500 shares during the period. Intelligence Driven Advisers LLC bought a new stake in shares of Crescent Point Energy in the 1st quarter valued at about $88,000. Finally, Lindbrook Capital LLC grew its position in shares of Crescent Point Energy by 74.5% in the 1st quarter. Lindbrook Capital LLC now owns 8,554 shares of the oil and gas producer’s stock valued at $70,000 after buying an additional 3,652 shares during the last quarter. 49.37% of the stock is currently owned by institutional investors and hedge funds.

Crescent Point Energy Company Profile

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.