Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its target price cut by Royal Bank of Canada from C$11.00 to C$6.00 in a research note published on Tuesday morning.
Several other brokerages have also recently issued reports on CPG. Raymond James reiterated a market perform rating and set a C$11.00 price target on shares of Crescent Point Energy in a research report on Friday, October 26th. TD Securities dropped their target price on shares of Crescent Point Energy from C$9.50 to C$8.00 and set a hold rating on the stock in a research note on Friday, October 26th. GMP Securities dropped their target price on shares of Crescent Point Energy from C$10.50 to C$8.00 in a research note on Thursday, December 13th. National Bank Financial dropped their target price on shares of Crescent Point Energy from C$16.00 to C$6.50 and set an outperform rating on the stock in a research note on Monday, December 10th. Finally, BMO Capital Markets downgraded shares of Crescent Point Energy from an outperform rating to a market perform rating and dropped their target price for the stock from C$10.00 to C$8.00 in a research note on Monday, October 22nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of C$9.32.
CPG stock opened at C$4.52 on Tuesday. Crescent Point Energy has a 12-month low of C$3.70 and a 12-month high of C$11.81. The company has a debt-to-equity ratio of 46.70, a current ratio of 0.48 and a quick ratio of 0.42.
Crescent Point Energy (TSE:CPG) (NYSE:CPG) last released its quarterly earnings data on Thursday, October 25th. The company reported C$0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.10 by C$0.05. The firm had revenue of C$1.08 billion during the quarter, compared to analysts’ expectations of C$971.40 million. Sell-side analysts anticipate that Crescent Point Energy will post 0.76 earnings per share for the current year.
The company also recently disclosed a monthly dividend, which was paid on Monday, December 17th. Stockholders of record on Friday, November 30th were paid a $0.03 dividend. The ex-dividend date was Thursday, November 29th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 7.96%. Crescent Point Energy’s dividend payout ratio (DPR) is presently -69.23%.
In other news, Director Craig Stephen Bryksa acquired 13,500 shares of Crescent Point Energy stock in a transaction dated Monday, October 29th. The stock was purchased at an average cost of C$6.77 per share, with a total value of C$91,395.00. Over the last three months, insiders bought 16,970 shares of company stock valued at $105,534.
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, and Utah.
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