Crescent Point Energy (NYSE:CPG) Price Target Increased to C$7.50 by Analysts at Scotiabank

Crescent Point Energy (NYSE:CPG) (TSE:CPG) had its target price hoisted by equities researchers at Scotiabank from C$6.75 to C$7.50 in a report issued on Thursday, The Fly reports. The firm currently has an “outperform” rating on the oil and gas producer’s stock.

A number of other research firms also recently weighed in on CPG. National Bank Financial increased their target price on Crescent Point Energy from C$11.00 to C$12.50 and gave the company an “outperform” rating in a report on Wednesday, September 29th. Zacks Investment Research raised Crescent Point Energy from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a report on Thursday, October 7th. CIBC increased their target price on Crescent Point Energy from C$7.00 to C$9.00 and gave the company an “outperform” rating in a report on Wednesday, July 14th. Finally, Stifel Nicolaus increased their target price on Crescent Point Energy from C$7.75 to C$8.75 and gave the company a “buy” rating in a report on Monday, June 28th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $7.48.

Shares of Crescent Point Energy stock traded up $0.19 during trading on Thursday, hitting $5.08. 133,326 shares of the company’s stock traded hands, compared to its average volume of 4,330,531. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.46 and a quick ratio of 0.46. Crescent Point Energy has a 1 year low of $1.11 and a 1 year high of $5.48. The stock has a market capitalization of $2.96 billion, a P/E ratio of 1.74 and a beta of 2.97. The business has a 50-day simple moving average of $3.92 and a 200-day simple moving average of $4.02.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last released its quarterly earnings data on Wednesday, July 28th. The oil and gas producer reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). Crescent Point Energy had a net margin of 89.04% and a return on equity of 10.74%. The business had revenue of $769.55 million for the quarter.

A number of institutional investors and hedge funds have recently modified their holdings of CPG. BlackRock Inc. bought a new stake in Crescent Point Energy during the 1st quarter valued at approximately $307,000. UBS Group AG raised its stake in Crescent Point Energy by 161.4% during the 1st quarter. UBS Group AG now owns 755,348 shares of the oil and gas producer’s stock valued at $3,150,000 after purchasing an additional 466,415 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Crescent Point Energy during the 1st quarter valued at approximately $131,000. Geode Capital Management LLC raised its stake in Crescent Point Energy by 28.7% during the 1st quarter. Geode Capital Management LLC now owns 123,652 shares of the oil and gas producer’s stock valued at $515,000 after purchasing an additional 27,605 shares during the period. Finally, Van ECK Associates Corp raised its stake in Crescent Point Energy by 14.7% during the 1st quarter. Van ECK Associates Corp now owns 64,870 shares of the oil and gas producer’s stock valued at $271,000 after purchasing an additional 8,299 shares during the period. 34.45% of the stock is currently owned by institutional investors.

Crescent Point Energy Company Profile

Crescent Point Energy Corp. engages in the exploration, development and production of oil and gas properties. Its focus areas include: Viewfield Bakken, Flat Lake Torquay, and Shaunavon. The company was founded on April 20, 1994 and is headquartered in Calgary, Canada.

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