Crescent Point Energy (TSE:CPG) Price Target Increased to C$7.50 by Analysts at Royal Bank of Canada

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its price target lifted by Royal Bank of Canada from C$6.50 to C$7.50 in a research note published on Thursday morning, Price reports. The brokerage currently has a na rating on the stock.

Several other research analysts have also recently weighed in on the company. TD Securities increased their price objective on Crescent Point Energy from C$4.25 to C$8.00 and gave the stock a buy rating in a research report on Wednesday, March 24th. Raymond James reaffirmed a market perform rating and set a C$5.75 price target on shares of Crescent Point Energy in a research report on Thursday, May 13th. Tudor Pickering & Holt set a C$6.00 price objective on shares of Crescent Point Energy and gave the company a hold rating in a report on Tuesday. Tudor Pickering reaffirmed a hold rating and set a C$6.00 target price on shares of Crescent Point Energy in a report on Tuesday. Finally, CIBC reiterated an outperform rating and issued a C$7.00 price target on shares of Crescent Point Energy in a research note on Tuesday. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of Buy and an average target price of C$6.67.

Shares of CPG stock opened at C$5.57 on Thursday. The company has a market cap of C$3.24 billion and a P/E ratio of -16.93. The company has a quick ratio of 0.34, a current ratio of 0.47 and a debt-to-equity ratio of 81.22. Crescent Point Energy has a 52 week low of C$1.41 and a 52 week high of C$5.87. The business’s 50-day moving average is C$5.02.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last issued its quarterly earnings data on Wednesday, May 12th. The company reported C$0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.12 by C$0.06. The firm had revenue of C$625.50 million for the quarter. As a group, equities research analysts anticipate that Crescent Point Energy will post 0.79 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 2nd. Shareholders of record on Tuesday, June 15th will be given a $0.002 dividend. This represents a $0.01 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend is Monday, June 14th. Crescent Point Energy’s dividend payout ratio is presently -2.28%.

About Crescent Point Energy

Crescent Point Energy Corp. explores, develops, and produces light and medium crude oil and natural gas reserves in Western Canada and the United States. The company'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.

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Analyst Recommendations for Crescent Point Energy (TSE:CPG)

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