Crescent Point Energy Corp. (NYSE:CPG) Receives $15.88 Consensus Target Price from Analysts

Posted by MarketBeat News on Aug 6th, 2022

Crescent Point Energy Corp. (NYSE:CPG – Get Rating) (TSE:CPG) has earned a consensus rating of “Buy” from the nine analysts that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have covered the stock in the last year is $15.88.

CPG has been the subject of a number of research analyst reports. National Bank Financial cut their target price on Crescent Point Energy from C$21.00 to C$20.00 in a research report on Thursday, July 28th. Stifel Nicolaus increased their price objective on Crescent Point Energy from C$15.50 to C$17.00 in a research report on Thursday, June 30th. CIBC raised their price objective on Crescent Point Energy from C$13.50 to C$16.00 in a research note on Wednesday, June 15th. Finally, Scotiabank raised Crescent Point Energy from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, June 8th.

Crescent Point Energy Stock Performance

CPG opened at $7.03 on Wednesday. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 3.04 and a beta of 2.26. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.59 and a quick ratio of 0.59. Crescent Point Energy has a 1-year low of $2.75 and a 1-year high of $10.96. The business has a 50 day moving average price of $7.89 and a two-hundred day moving average price of $7.36.

Crescent Point Energy (NYSE:CPG – Get Rating) (TSE:CPG) last released its earnings results on Thursday, May 12th. The oil and gas producer reported $0.32 earnings per share for the quarter. The firm had revenue of $772.43 million during the quarter. Crescent Point Energy had a return on equity of 13.55% and a net margin of 42.33%. Research analysts predict that Crescent Point Energy will post 2.71 EPS for the current fiscal year.

Crescent Point Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be issued a $0.062 dividend. This represents a $0.25 annualized dividend and a dividend yield of 3.53%. This is a boost from Crescent Point Energy’s previous quarterly dividend of $0.02. The ex-dividend date is Wednesday, September 14th. Crescent Point Energy’s dividend payout ratio (DPR) is presently 9.09%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC acquired a new stake in shares of Crescent Point Energy during the second quarter worth approximately $50,000. PNC Financial Services Group Inc. acquired a new stake in shares of Crescent Point Energy during the first quarter worth approximately $50,000. Lazard Asset Management LLC acquired a new stake in shares of Crescent Point Energy during the first quarter worth approximately $62,000. Intelligence Driven Advisers LLC acquired a new stake in shares of Crescent Point Energy during the fourth quarter worth approximately $65,000. Finally, Stratos Wealth Partners LTD. boosted its holdings in shares of Crescent Point Energy by 14.0% during the second quarter. Stratos Wealth Partners LTD. now owns 12,200 shares of the oil and gas producer’s stock worth $87,000 after purchasing an additional 1,500 shares during the period. 42.19% of the stock is currently owned by institutional investors and hedge funds.

Crescent Point Energy Company Profile

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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.