Crescent Point Energy Corp. (TSE:CPG) Given Consensus Recommendation of “Buy” by Brokerages

Crescent Point Energy Corp. (TSE:CPG) (NYSE:CPG) has earned an average recommendation of “Buy” from the ten research firms that are presently covering the company, MarketBeat Ratings reports. Ten analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$14.55.

CPG has been the topic of several recent analyst reports. Canaccord Genuity Group boosted their price objective on shares of Crescent Point Energy from C$13.00 to C$14.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Jefferies Financial Group lifted their target price on Crescent Point Energy from C$12.00 to C$14.00 in a research note on Tuesday, April 23rd. Desjardins increased their price target on Crescent Point Energy from C$12.50 to C$14.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. ATB Capital lifted their price objective on shares of Crescent Point Energy from C$12.00 to C$13.00 in a research report on Monday, April 22nd. Finally, BMO Capital Markets increased their price objective on shares of 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.

Insider Transactions at Crescent Point Energy

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

Crescent Point Energy Stock Performance

Shares of TSE:CPG opened at C$11.83 on Wednesday. The firm’s 50 day simple moving average is C$11.16 and its 200 day simple moving average is C$10.03. Crescent Point Energy has a fifty-two week low of C$8.16 and a fifty-two week high of C$12.67. The company has a market capitalization of C$7.33 billion, a price-to-earnings ratio of 8.10, a P/E/G ratio of -0.59 and a beta of 2.86. The company has a debt-to-equity ratio of 54.04, a current ratio of 0.76 and a quick ratio of 0.49.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last issued its quarterly earnings data on Thursday, February 29th. The company reported C$0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.51 by C($0.14). The company had revenue of C$1.01 billion for the quarter, compared to the consensus estimate of C$1 billion. Crescent Point Energy had a return on equity of 11.97% and a net margin of 17.88%. As a group, sell-side analysts forecast that Crescent Point Energy will post 1.430622 earnings per share for the current year.

Crescent Point Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Crescent Point Energy’s previous quarterly dividend of $0.02. Crescent Point Energy’s dividend payout ratio (DPR) is 31.51%.

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.