Crescent Point Energy Corp. (NYSE:CPG) Receives Average Recommendation of “Buy” from Brokerages

Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) has received an average rating of “Buy” from the four analysts that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $13.81.

Separately, BMO Capital Markets upped their target price on shares of Crescent Point Energy from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Tuesday.

Institutional Trading of Crescent Point Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Blume Capital Management Inc. lifted its stake in Crescent Point Energy by 75.0% during the first quarter. Blume Capital Management Inc. now owns 3,500 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 1,500 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in Crescent Point Energy in the 1st quarter worth approximately $41,000. Parallel Advisors LLC boosted its stake in Crescent Point Energy by 224.1% in the fourth quarter. Parallel Advisors LLC now owns 6,378 shares of the oil and gas producer’s stock worth $44,000 after buying an additional 4,410 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of Crescent Point Energy by 74.5% during the first quarter. Lindbrook Capital LLC now owns 8,554 shares of the oil and gas producer’s stock worth $70,000 after acquiring an additional 3,652 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Crescent Point Energy by 48.8% in the 4th quarter. Blue Trust Inc. now owns 10,210 shares of the oil and gas producer’s stock worth $71,000 after acquiring an additional 3,347 shares during the last quarter. Hedge funds and other institutional investors own 49.37% of the company’s stock.

Crescent Point Energy Stock Up 0.1 %

Shares of CPG traded up $0.01 during trading hours on Tuesday, hitting $8.83. The stock had a trading volume of 2,651,587 shares, compared to its average volume of 5,695,348. The firm has a 50 day simple moving average of $8.24 and a 200-day simple moving average of $7.39. Crescent Point Energy has a 1-year low of $6.03 and a 1-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 $5.47 billion, a P/E ratio of 12.59 and a beta of 2.17.

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

Crescent Point Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.086 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.34 annualized dividend and a yield of 3.90%. This is a boost from Crescent Point Energy’s previous quarterly dividend of $0.07. Crescent Point Energy’s payout ratio is currently 48.57%.

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.