Shares of Crescent Point Energy Corp. (NYSE:CPG - Get Rating) (TSE:CPG) have received an average rating of "Buy" from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have covered the stock in the last year is $15.88.
Several research firms have recently issued reports on CPG. Stifel Nicolaus boosted their target price on Crescent Point Energy from C$15.50 to C$17.00 in a research note on Thursday, June 30th. National Bank Financial reduced their target price on Crescent Point Energy from C$21.00 to C$20.00 in a research note on Thursday, July 28th. CIBC lifted their price target on Crescent Point Energy from C$13.50 to C$16.00 in a research report on Wednesday, June 15th. Finally, Scotiabank upgraded Crescent Point Energy from a "sector perform" rating to a "sector outperform" rating in a research report on Wednesday, June 8th.
Institutional Investors Weigh In On Crescent Point Energy
Several hedge funds have recently added to or reduced their stakes in the stock. Ninepoint Partners LP boosted its holdings in Crescent Point Energy by 80.0% in the second quarter. Ninepoint Partners LP now owns 18,000,000 shares of the oil and gas producer's stock worth $128,160,000 after acquiring an additional 8,000,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Crescent Point Energy by 2.5% in the first quarter. Vanguard Group Inc. now owns 17,220,536 shares of the oil and gas producer's stock worth $124,849,000 after acquiring an additional 413,562 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Crescent Point Energy by 3.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 10,583,434 shares of the oil and gas producer's stock worth $76,723,000 after acquiring an additional 305,215 shares in the last quarter. Millennium Management LLC boosted its holdings in Crescent Point Energy by 184.9% in the fourth quarter. Millennium Management LLC now owns 9,097,452 shares of the oil and gas producer's stock worth $48,580,000 after acquiring an additional 5,904,437 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Crescent Point Energy by 294.0% in the first quarter. Renaissance Technologies LLC now owns 6,350,887 shares of the oil and gas producer's stock worth $46,064,000 after acquiring an additional 4,739,152 shares in the last quarter. 42.19% of the stock is owned by institutional investors.
Crescent Point Energy Price Performance
Shares of Crescent Point Energy stock opened at $7.88 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.59 and a quick ratio of 0.59. Crescent Point Energy has a one year low of $3.33 and a one year high of $10.96. The stock has a market capitalization of $4.44 billion, a P/E ratio of 3.41 and a beta of 2.26. The business's 50 day simple moving average is $7.33 and its two-hundred day simple moving average is $7.48.
Crescent Point Energy (NYSE:CPG - Get Rating) (TSE:CPG) last posted its earnings results on Wednesday, July 27th. The oil and gas producer reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.06). Crescent Point Energy had a net margin of 42.33% and a return on equity of 13.55%. The business had revenue of $1.03 billion for the quarter. Analysts forecast that Crescent Point Energy will post 2.73 EPS for the current year.
Crescent Point Energy Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be issued a $0.062 dividend. This represents a $0.25 annualized dividend and a yield of 3.15%. This is an increase from Crescent Point Energy's previous quarterly dividend of $0.02. The ex-dividend date is Wednesday, September 14th. Crescent Point Energy's payout ratio is 9.09%.
About Crescent Point Energy
(Get Rating)Crescent Point Energy Corp. explores, develops, and produces light and medium crude oil, natural gas liquids, and natural gas reserves in Western Canada and the United States. It'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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Crescent Point Energy Corp. (NYSE:CPG) Receives Consensus Rating of "Buy" from Brokerages - MarketBeat
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