Crescent Point Energy (CPG) – Analysts’ Weekly Ratings Changes

Crescent Point Energy (TSE: CPG) recently received a number of ratings updates from brokerages and research firms:

• 4/23/2024 – Crescent Point Energy had its price target raised by analysts at Stifel Nicolaus from C$14.25 to C$16.00. They now have a “buy” rating on the stock.
• 4/23/2024 – Crescent Point Energy had its price target raised by analysts at Desjardins from C$12.50 to C$14.00. They now have a “buy” rating on the stock.
• 4/23/2024 – Crescent Point Energy had its price target raised by analysts at Jefferies Financial Group Inc. from C$12.00 to C$14.00.
• 4/22/2024 – Crescent Point Energy had its price target raised by analysts at CIBC from C$14.00 to C$15.00. They now have an “outperform” rating on the stock.
• 4/22/2024 – Crescent Point Energy had its price target raised by analysts at ATB Capital from C$12.00 to C$13.00.
• 4/19/2024 – Crescent Point Energy had its price target raised by analysts at National Bankshares, Inc. from C$14.00 to C$19.00. They now have an “outperform” rating on the stock.
• 4/17/2024 – Crescent Point Energy had its price target raised by analysts at Canaccord Genuity Group Inc. from C$13.00 to C$14.00. They now have a “buy” rating on the stock.
• 4/16/2024 – Crescent Point Energy had its price target raised by analysts at Jefferies Financial Group Inc. from C$12.00 to C$14.00. They now have a “buy” rating on the stock.
• 3/22/2024 – Crescent Point Energy had its price target raised by analysts at Desjardins from C$12.00 to C$12.50. They now have a “buy” rating on the stock.
• 3/21/2024 – Crescent Point Energy had its price target raised by analysts at BMO Capital Markets from C$12.00 to C$13.00. They now have an “outperform” rating on the stock.
• 3/21/2024 – Crescent Point Energy had its price target raised by analysts at Canaccord Genuity Group Inc. from C$12.50 to C$13.00. They now have a “buy” rating on the stock.
• 3/21/2024 – Crescent Point Energy had its price target raised by analysts at Stifel Nicolaus from C$14.00 to C$14.50. They now have a “buy” rating on the stock.

Crescent Point Energy Stock Performance

TSE:CPG traded up C$0.22 during midday trading on Thursday, reaching C$11.92. The stock had a trading volume of 2,537,229 shares, compared to its average volume of 3,365,875. The company has a quick ratio of 0.49, a current ratio of 0.76 and a debt-to-equity ratio of 54.04. The stock has a market cap of C$7.39 billion, a P/E ratio of 8.16, a P/E/G ratio of -0.59 and a beta of 2.86. The firm has a fifty day simple moving average of C$11.07 and a two-hundred day simple moving average of C$10.03. Crescent Point Energy Corp. has a 12-month low of C$8.16 and a 12-month high of C$12.67.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last issued its quarterly earnings results on Thursday, February 29th. The company reported C$0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.51 by C($0.14). The firm had revenue of C$1.01 billion for the quarter, compared to analyst estimates of C$1 billion. Crescent Point Energy had a return on equity of 11.97% and a net margin of 17.88%. On average, equities analysts expect that Crescent Point Energy Corp. will post 1.430622 EPS for the current year.

Crescent Point Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a $0.115 dividend. The ex-dividend date was Thursday, March 14th. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.02. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.86%. Crescent Point Energy’s payout ratio is 31.51%.

Insider Buying and Selling

In related news, Senior Officer Mark Gordon Eade sold 34,497 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of C$11.83, for a total value of C$408,099.51. In other news, Senior Officer Mark Gordon Eade sold 34,497 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of C$11.83, for a total value of C$408,099.51. Also, Senior Officer William Garret Holt bought 49,309 shares of the company’s stock in a transaction on Friday, March 8th. The shares were acquired at an average price of C$10.15 per share, with a total value of C$500,486.35. 0.23% of the stock is currently owned by corporate insiders.

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.