Crescent Point Energy (NYSE:CPG) Price Target Raised to $14.00 at BMO Capital Markets

Crescent Point Energy (NYSE:CPG) (TSE:CPG) had its target price raised by BMO Capital Markets from $13.00 to $14.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has an outperform rating on the oil and gas producer’s stock.

Crescent Point Energy Stock Performance

Shares of Crescent Point Energy stock opened at $8.85 on Tuesday. The business has a 50-day simple moving average of $8.27 and a 200 day simple moving average of $7.40. Crescent Point Energy has a one year low of $6.03 and a one year high of $9.28. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 12.64 and a beta of 2.17.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last posted its earnings results on Thursday, February 29th. The oil and gas producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.11). Crescent Point Energy had a return on equity of 13.27% and a net margin of 15.40%. The business had revenue of $743.70 million for the quarter, compared to the consensus estimate of $752.25 million. On average, research analysts anticipate that Crescent Point Energy will post 1.17 earnings per share for the current fiscal year.

Crescent Point Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a dividend of $0.086 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.34 annualized dividend and a yield of 3.89%. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.07. Crescent Point Energy’s dividend payout ratio is 48.57%.

Institutional Trading of Crescent Point Energy

Institutional investors have recently made changes to their positions in the company. Riverstone Holdings LLC purchased a new position in Crescent Point Energy during the fourth quarter worth about $289,379,000. Goldman Sachs Group Inc. raised its stake in shares of Crescent Point Energy by 1,534.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 9,277,441 shares of the oil and gas producer’s stock valued at $64,293,000 after buying an additional 8,709,962 shares during the period. Ninepoint Partners LP raised its stake in Crescent Point Energy by 100.0% in the 3rd quarter. Ninepoint Partners LP now owns 16,000,000 shares of the oil and gas producer’s stock valued at $132,800,000 after acquiring an additional 8,000,000 shares during the period. Quadrature Capital Ltd bought a new position in Crescent Point Energy during the fourth quarter worth about $11,663,000. Finally, HarbourVest Partners LLC purchased a new position in shares of Crescent Point Energy in the fourth quarter worth about $11,620,000. Institutional investors own 49.37% of the company’s stock.

Crescent Point Energy Company Profile

Crescent Point Energy Corp. explores, develops, and produces oil and gas properties in Canada and the United States. The company focuses on crude oil, tight oil, natural gas liquids, shale gas, and natural gas reserves. Its properties are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota.