Weekly Investment Analysts’ Ratings Updates for Crescent Point Energy (CPG)

Several brokerages have updated their recommendations and price targets on shares of Crescent Point Energy (TSE: CPG) in the last few weeks:

• 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.
• 2/27/2024 – Crescent Point Energy was given a new C$12.00 price target on by analysts at Jefferies Financial Group Inc.. They now have a “buy” rating on the stock.

Crescent Point Energy Stock Performance

CPG traded up C$0.21 during trading on Thursday, hitting C$12.21. The stock had a trading volume of 5,058,515 shares, compared to its average volume of 3,334,099. Crescent Point Energy Corp. has a twelve month low of C$8.16 and a twelve month high of C$12.37. The firm has a market capitalization of C$7.57 billion, a P/E ratio of 8.36, a PEG ratio of -0.59 and a beta of 2.86. The company has a debt-to-equity ratio of 54.04, a quick ratio of 0.49 and a current ratio of 0.76. The company’s 50-day moving average price is C$10.09 and its 200 day moving average price is C$9.90.

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

Crescent Point Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 3.77%. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.02. The ex-dividend date was Thursday, March 14th. Crescent Point Energy’s payout ratio is presently 31.51%.

Insider Activity

In other Crescent Point Energy news, Senior Officer William Garret Holt purchased 49,309 shares of Crescent Point Energy stock in a transaction on Friday, March 8th. The shares were bought at an average price of C$10.15 per share, with a total value of C$500,486.35. In other news, Senior Officer Mark Gordon Eade sold 34,497 shares of Crescent Point Energy stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of C$11.83, for a total transaction of C$408,099.51. Also, Senior Officer William Garret Holt acquired 49,309 shares of Crescent Point Energy stock in a transaction that occurred on Friday, March 8th. The shares were purchased 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.

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.