Crescent Point Energy (CPG) Rating Lowered to Neutral at Macquarie

Crescent Point Energy (NYSE:CPG) (TSE:CPG) was downgraded by stock analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research note issued on Friday, Marketbeat reports.

CPG has been the subject of several other research reports. Raymond James restated a “hold” rating on shares of Crescent Point Energy in a report on Wednesday. Zacks Investment Research upgraded Crescent Point Energy from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a report on Wednesday. Canaccord Genuity lowered Crescent Point Energy to a “buy” rating in a report on Thursday, January 10th. BMO Capital Markets restated an “average” rating and issued a $5.00 price objective on shares of Crescent Point Energy in a report on Monday, January 7th. Finally, TD Securities upgraded Crescent Point Energy from a “hold” rating to a “buy” rating in a report on Monday, January 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Crescent Point Energy has a consensus rating of “Hold” and a consensus target price of $4.38.

Shares of CPG stock opened at $3.50 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.46. Crescent Point Energy has a 1 year low of $2.70 and a 1 year high of $9.24. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 25.00 and a beta of 1.07.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last announced its quarterly earnings results on Thursday, October 25th. The oil and gas producer reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.03. Crescent Point Energy had a positive return on equity of 2.38% and a negative net margin of 7.36%. The company had revenue of $823.88 million during the quarter, compared to analyst estimates of $738.26 million. Equities analysts expect that Crescent Point Energy will post -0.42 EPS for the current year.

Several institutional investors have recently made changes to their positions in CPG. Franklin Resources Inc. lifted its holdings in shares of Crescent Point Energy by 15.8% during the third quarter. Franklin Resources Inc. now owns 33,361,414 shares of the oil and gas producer’s stock valued at $212,163,000 after purchasing an additional 4,558,402 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Crescent Point Energy by 93.0% during the third quarter. Morgan Stanley now owns 4,618,575 shares of the oil and gas producer’s stock valued at $29,328,000 after purchasing an additional 2,225,693 shares during the last quarter. FIL Ltd lifted its holdings in shares of Crescent Point Energy by 8.6% during the third quarter. FIL Ltd now owns 25,454,550 shares of the oil and gas producer’s stock valued at $161,991,000 after purchasing an additional 2,023,430 shares during the last quarter. Key Group Holdings Cayman LTD. purchased a new stake in shares of Crescent Point Energy during the third quarter valued at $6,868,000. Finally, FMR LLC purchased a new stake in shares of Crescent Point Energy during the third quarter valued at $5,679,000. Institutional investors and hedge funds own 40.08% of the company’s stock.

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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Analyst Recommendations for Crescent Point Energy (NYSE:CPG)

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