Crescent Point Energy (CPG) Receives Buy Rating from AltaCorp Capital

Crescent Point Energy (NYSE:CPG) (TSE:CPG)‘s stock had its “buy” rating reiterated by equities researchers at AltaCorp Capital in a report issued on Monday. They currently have a $16.25 price target on the oil and gas producer’s stock. AltaCorp Capital’s price objective would indicate a potential upside of 79.36% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research upgraded Crescent Point Energy from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research report on Friday, December 29th. Scotiabank reiterated a “buy” rating and issued a $17.00 price target on shares of Crescent Point Energy in a research report on Tuesday, October 10th. Royal Bank of Canada reiterated a “hold” rating and issued a $14.00 price target on shares of Crescent Point Energy in a research report on Monday, September 25th. ValuEngine upgraded Crescent Point Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Finally, Desjardins lowered Crescent Point Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Crescent Point Energy currently has a consensus rating of “Hold” and a consensus price target of $13.94.

Crescent Point Energy (CPG) traded up $0.05 during midday trading on Monday, hitting $9.06. The company’s stock had a trading volume of 712,653 shares, compared to its average volume of 1,540,000. Crescent Point Energy has a 1 year low of $6.42 and a 1 year high of $12.81. The company has a market cap of $4,920.00, a price-to-earnings ratio of -10.30, a PEG ratio of 8.58 and a beta of 1.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.72 and a quick ratio of 0.72.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last released its quarterly earnings results on Thursday, October 26th. The oil and gas producer reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. Crescent Point Energy had a positive return on equity of 2.45% and a negative net margin of 18.68%. analysts forecast that Crescent Point Energy will post -0.06 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. Sciencast Management LP boosted its position in shares of Crescent Point Energy by 26.6% during the 2nd quarter. Sciencast Management LP now owns 15,244 shares of the oil and gas producer’s stock valued at $117,000 after purchasing an additional 3,204 shares in the last quarter. Bank of Nova Scotia Trust Co. boosted its position in shares of Crescent Point Energy by 10.1% during the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 41,903 shares of the oil and gas producer’s stock valued at $321,000 after purchasing an additional 3,852 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Crescent Point Energy by 84.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 49,736 shares of the oil and gas producer’s stock valued at $399,000 after purchasing an additional 22,754 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Crescent Point Energy during the 2nd quarter valued at about $420,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Crescent Point Energy during the 3rd quarter valued at about $461,000. Institutional investors own 39.69% of the company’s stock.

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Crescent Point Energy Company Profile

Crescent Point Energy Corp. acquires, explores, develops, and produces light and medium oil and natural gas properties 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, Montana, Colorado, and Utah.

Analyst Recommendations for Crescent Point Energy (NYSE:CPG)

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