Zacks Investment Research upgraded shares of Crescent Point Energy (NYSE:CPG) (TSE:CPG) from a hold rating to a buy rating in a report released on Tuesday morning. They currently have $7.75 price objective on the oil and gas producer’s stock.
According to Zacks, “Crescent Point Energy Corp. is engaged in the acquisition, exploration and development of oil and natural gas properties in Western Canada. The Company’s operations consist of light and medium oil and natural gas assets strategically focused in core areas in southern Saskatchewan and central and southern Alberta. Crescent Point Energy Corp., formerly known as Crescent Point Energy Trust, is headquartered in Calgary, Canada. “
A number of other research analysts have also issued reports on CPG. UBS Group lowered shares of Crescent Point Energy from an outperform rating to a market perform rating in a report on Thursday, December 14th. Raymond James Financial lowered shares of Crescent Point Energy from an outperform rating to a market perform rating in a report on Thursday, December 14th. ValuEngine upgraded shares of Crescent Point Energy from a sell rating to a hold rating in a report on Friday, December 15th. Finally, AltaCorp Capital restated a buy rating and issued a $16.25 target price on shares of Crescent Point Energy in a report on Monday, January 15th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $13.75.
Crescent Point Energy (CPG) opened at $7.18 on Tuesday. The stock has a market cap of $3,830.00, a PE ratio of -8.16, a price-to-earnings-growth ratio of 6.69 and a beta of 1.52. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.44. Crescent Point Energy has a 1-year low of $6.42 and a 1-year high of $12.66.
The company also recently announced a monthly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be issued a $0.024 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $0.29 dividend on an annualized basis and a yield of 4.01%. Crescent Point Energy’s dividend payout ratio (DPR) is -32.95%.
Large investors have recently added to or reduced their stakes in the business. Ontario Teachers Pension Plan Board purchased a new position in Crescent Point Energy in the 4th quarter valued at about $142,000. Virtu Financial LLC lifted its holdings in shares of Crescent Point Energy by 63.1% during the 4th quarter. Virtu Financial LLC now owns 28,546 shares of the oil and gas producer’s stock worth $217,000 after acquiring an additional 11,040 shares during the period. Verition Fund Management LLC lifted its holdings in shares of Crescent Point Energy by 34.2% during the 4th quarter. Verition Fund Management LLC now owns 36,033 shares of the oil and gas producer’s stock worth $275,000 after acquiring an additional 9,184 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Crescent Point Energy by 84.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 49,736 shares of the oil and gas producer’s stock worth $399,000 after acquiring an additional 22,754 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in shares of Crescent Point Energy by 114.3% during the 4th quarter. Acadian Asset Management LLC now owns 50,800 shares of the oil and gas producer’s stock worth $388,000 after acquiring an additional 27,100 shares during the period. Institutional investors own 40.28% of the company’s stock.
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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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