Canaccord Genuity Group Raises Crescent Point Energy (TSE:CPG) Price Target to C$14.00

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its price target raised by equities researchers at Canaccord Genuity Group from C$13.00 to C$14.00 in a note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 19.15% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus increased their price target on shares of Crescent Point Energy from C$14.00 to C$14.50 and gave the company a “buy” rating in a research report on Thursday, March 21st. Jefferies Financial Group lifted their price target on shares of Crescent Point Energy from C$12.00 to C$14.00 and gave the stock a “buy” rating in a report on Tuesday. Desjardins increased their price objective on Crescent Point Energy from C$12.00 to C$12.50 and gave the company a “buy” rating in a report on Friday, March 22nd. ATB Capital decreased their target price on Crescent Point Energy from C$13.00 to C$12.00 and set an “outperform” rating for the company in a research report on Thursday, January 18th. Finally, BMO Capital Markets upped their price target on Crescent Point Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, Crescent Point Energy presently has an average rating of “Buy” and an average price target of C$13.95.

Crescent Point Energy Stock Down 0.5 %

CPG stock traded down C$0.06 during trading on Wednesday, reaching C$11.75. The stock had a trading volume of 4,029,375 shares, compared to its average volume of 3,402,102. 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 company has a market capitalization of C$7.28 billion, a price-to-earnings ratio of 8.05, a P/E/G ratio of -0.59 and a beta of 2.86. Crescent Point Energy has a one year low of C$8.16 and a one year high of C$12.47. The company’s 50 day moving average is C$10.37 and its two-hundred day moving average is C$9.92.

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

Insider Activity

In other Crescent Point Energy news, Senior Officer Mark Gordon Eade sold 34,497 shares of the stock in a transaction that occurred on 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 related news, Senior Officer Mark Gordon Eade sold 34,497 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of C$11.83, for a total transaction of C$408,099.51. Also, Senior Officer William Garret Holt purchased 49,309 shares of the stock in a transaction on Friday, March 8th. The stock was acquired at an average cost of C$10.15 per share, for a total transaction of C$500,486.35. Company insiders own 0.23% of the company’s stock.

About Crescent Point Energy

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.