Scotiabank Boosts Crescent Point Energy (TSE:CPG) Price Target to C$7.50

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its price objective raised by stock analysts at Scotiabank from C$6.75 to C$7.50 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. Scotiabank’s target price suggests a potential upside of 18.11% from the stock’s previous close.

Several other equities analysts have also recently weighed in on CPG. National Bank Financial raised their price target on shares of Crescent Point Energy to C$11.00 and gave the stock an “outperform” rating in a research note on Thursday, June 17th. CIBC reissued an “outperform” rating and issued a C$9.00 target price on shares of Crescent Point Energy in a research note on Monday, September 13th. Tudor Pickering raised their target price on shares of Crescent Point Energy to C$7.00 and gave the company a “buy” rating in a research note on Friday, October 8th. National Bankshares raised their target price on shares of Crescent Point Energy from C$7.00 to C$11.00 in a research note on Thursday, June 17th. Finally, BMO Capital Markets raised their target price on shares of Crescent Point Energy from C$7.00 to C$8.00 and gave the company a “na” rating in a research note on Monday, June 21st. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$7.75.

CPG stock traded up C$0.27 during mid-day trading on Thursday, hitting C$6.35. 3,493,034 shares of the company were exchanged, compared to its average volume of 4,533,556. The firm has a market cap of C$3.70 billion and a P/E ratio of 1.63. Crescent Point Energy has a 1-year low of C$1.48 and a 1-year high of C$6.50. The firm’s 50 day simple moving average is C$4.94 and its 200 day simple moving average is C$4.99. The company has a debt-to-equity ratio of 49.85, a quick ratio of 0.34 and a current ratio of 0.46.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last issued its quarterly earnings results on Wednesday, July 28th. The company reported C$0.20 earnings per share for the quarter, missing the consensus estimate of C$0.24 by C($0.04). The firm had revenue of C$945.30 million for the quarter. On average, equities research analysts predict that Crescent Point Energy will post 1.23 EPS for the current fiscal year.

Crescent Point Energy Company Profile

Crescent Point Energy Corp. explores, develops, and produces light and medium crude oil and natural gas reserves in Western Canada and the United States. The company'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.

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Analyst Recommendations for Crescent Point Energy (TSE:CPG)

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