Crescent Point Energy (NYSE:CPG) Lifted to “Sector Outperform” at Scotiabank

Crescent Point Energy (NYSE:CPGGet Rating) (TSE:CPG) was upgraded by research analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a report released on Wednesday, Briefing.com reports.

CPG has been the subject of several other research reports. National Bank Financial raised their target price on Crescent Point Energy from C$15.50 to C$20.00 in a research report on Thursday, April 14th. Zacks Investment Research upgraded Crescent Point Energy from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a research report on Friday, May 6th. StockNews.com started coverage on Crescent Point Energy in a research report on Thursday, March 31st. They set a “buy” rating for the company. Finally, CIBC raised their target price on Crescent Point Energy from C$13.00 to C$13.50 in a research report on Thursday, April 14th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Crescent Point Energy presently has an average rating of “Buy” and an average target price of $11.82.

Shares of CPG stock opened at $10.40 on Wednesday. The stock has a 50 day moving average of $7.64 and a two-hundred day moving average of $6.65. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.24. Crescent Point Energy has a 12 month low of $2.75 and a 12 month high of $10.42. The company has a market capitalization of $5.92 billion, a P/E ratio of 2.15 and a beta of 2.31.

Crescent Point Energy (NYSE:CPGGet Rating) (TSE:CPG) last announced its quarterly earnings data on Thursday, May 12th. The oil and gas producer reported $0.32 EPS for the quarter. The company had revenue of $772.43 million during the quarter. Crescent Point Energy had a return on equity of 11.72% and a net margin of 96.84%. Sell-side analysts predict that Crescent Point Energy will post 3.06 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of CPG. First Trust Advisors LP increased its stake in shares of Crescent Point Energy by 15.9% in the 1st quarter. First Trust Advisors LP now owns 15,100 shares of the oil and gas producer’s stock valued at $109,000 after buying an additional 2,073 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Crescent Point Energy by 11.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 21,709 shares of the oil and gas producer’s stock valued at $100,000 after buying an additional 2,201 shares during the period. Signaturefd LLC increased its stake in shares of Crescent Point Energy by 17.0% in the 1st quarter. Signaturefd LLC now owns 16,221 shares of the oil and gas producer’s stock valued at $118,000 after buying an additional 2,357 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of Crescent Point Energy by 8.5% in the 4th quarter. Parametric Portfolio Associates LLC now owns 48,921 shares of the oil and gas producer’s stock valued at $261,000 after buying an additional 3,839 shares during the period. Finally, Woodward Diversified Capital LLC increased its stake in shares of Crescent Point Energy by 40.0% in the 1st quarter. Woodward Diversified Capital LLC now owns 14,000 shares of the oil and gas producer’s stock valued at $102,000 after buying an additional 4,000 shares during the period. Hedge funds and other institutional investors own 42.19% of the company’s stock.

Crescent Point Energy Company Profile (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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