Brokerages Set Crescent Point Energy Corp. (NYSE:CPG) PT at $13.81

Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) has earned an average recommendation of “Buy” from the four brokerages that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $13.81.

Separately, BMO Capital Markets upped their price objective on shares of Crescent Point Energy from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday.

Crescent Point Energy Stock Up 0.9 %

Crescent Point Energy stock opened at $8.81 on Tuesday. 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 1-year low of $6.03 and a 1-year high of $9.28. The firm’s fifty day simple moving average is $8.33 and its 200-day simple moving average is $7.42. The company has a market capitalization of $5.45 billion, a P/E ratio of 12.58 and a beta of 2.17.

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

Crescent Point Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.086 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 3.91%. This is a positive change from Crescent Point Energy’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Thursday, March 14th. Crescent Point Energy’s dividend payout ratio is presently 47.14%.

Hedge Funds Weigh In On Crescent Point Energy

Several hedge funds have recently added to or reduced their stakes in the company. Riverstone Holdings LLC acquired a new stake in Crescent Point Energy during the 4th quarter worth $289,379,000. Franklin Resources Inc. raised its holdings in Crescent Point Energy by 5.0% during the 4th quarter. Franklin Resources Inc. now owns 25,945,226 shares of the oil and gas producer’s stock worth $179,949,000 after buying an additional 1,229,117 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Crescent Point Energy by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 20,410,351 shares of the oil and gas producer’s stock valued at $141,444,000 after buying an additional 1,521,382 shares during the period. Ninepoint Partners LP increased its position in shares of Crescent Point Energy by 18.8% during the fourth quarter. Ninepoint Partners LP now owns 19,000,000 shares of the oil and gas producer’s stock worth $131,670,000 after acquiring an additional 3,000,000 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Crescent Point Energy by 14.4% during the fourth quarter. CIBC Asset Management Inc now owns 12,213,750 shares of the oil and gas producer’s stock worth $84,981,000 after acquiring an additional 1,537,494 shares during the period. Institutional investors own 49.37% of the company’s stock.

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.