Crescent Point Energy (NYSE:CPG) (TSE:CPG)‘s stock had its “buy” rating reaffirmed by equities research analysts at AltaCorp Capital in a report issued on Monday. They presently have a $16.25 price objective on the oil and gas producer’s stock. AltaCorp Capital’s target price suggests a potential upside of 83.41% from the stock’s previous close.
Several other research firms have also weighed in on CPG. Zacks Investment Research lowered shares of Crescent Point Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 27th. Royal Bank of Canada reissued a “hold” rating and issued a $14.00 price target on shares of Crescent Point Energy in a research note on Monday, September 25th. Desjardins cut shares of Crescent Point Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Scotiabank reissued a “buy” rating and issued a $17.00 price target on shares of Crescent Point Energy in a research note on Tuesday, October 10th. Finally, ValuEngine raised shares of Crescent Point Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Crescent Point Energy has a consensus rating of “Hold” and an average price target of $13.94.
Crescent Point Energy (NYSE:CPG) opened at $8.86 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $4,920.00, a P/E ratio of -10.07, a PEG ratio of 8.58 and a beta of 1.52. Crescent Point Energy has a 1-year low of $6.42 and a 1-year high of $12.81.
Crescent Point Energy (NYSE:CPG) (TSE:CPG) last posted its earnings results on Thursday, October 26th. The oil and gas producer reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.07. Crescent Point Energy had a negative net margin of 18.68% and a positive return on equity of 2.45%. sell-side analysts anticipate that Crescent Point Energy will post -0.06 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in CPG. Mackenzie Financial Corp grew its stake in Crescent Point Energy by 7.5% in the 3rd quarter. Mackenzie Financial Corp now owns 15,154,711 shares of the oil and gas producer’s stock valued at $121,995,000 after acquiring an additional 1,059,760 shares during the period. Intact Investment Management Inc. grew its stake in Crescent Point Energy by 46.9% in the 3rd quarter. Intact Investment Management Inc. now owns 3,010,220 shares of the oil and gas producer’s stock valued at $30,162,000 after acquiring an additional 960,900 shares during the period. Lincluden Management Ltd. boosted its stake in Crescent Point Energy by 19.7% during the 3rd quarter. Lincluden Management Ltd. now owns 4,961,747 shares of the oil and gas producer’s stock worth $39,863,000 after purchasing an additional 815,095 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Crescent Point Energy during the 3rd quarter worth $5,331,000. Finally, CIBC Asset Management Inc boosted its stake in Crescent Point Energy by 7.6% during the 3rd quarter. CIBC Asset Management Inc now owns 9,305,976 shares of the oil and gas producer’s stock worth $74,533,000 after purchasing an additional 657,250 shares during the last quarter. 39.69% of the stock is currently owned by hedge funds and other institutional investors.
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About Crescent Point Energy
Crescent Point Energy Corp. acquires, explores, develops, and produces light and medium oil and natural gas properties 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, Montana, Colorado, and Utah.
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