Cormark Equities Analysts Decrease Earnings Estimates for Crescent Point Energy Corp (CPG)
Crescent Point Energy Corp (TSE:CPG) (NYSE:CPG) – Stock analysts at Cormark lowered their FY2017 earnings per share (EPS) estimates for shares of Crescent Point Energy Corp in a research note issued to investors on Tuesday. Cormark analyst A. Arif now expects that the company will post earnings per share of $0.43 for the year, down from their prior estimate of $0.48. Cormark also issued estimates for Crescent Point Energy Corp’s Q4 2017 earnings at $0.07 EPS, Q1 2018 earnings at $0.03 EPS, Q2 2018 earnings at $0.03 EPS and FY2019 earnings at $0.17 EPS.
A number of other brokerages also recently weighed in on CPG. BMO Capital Markets lowered their price target on Crescent Point Energy Corp from C$14.00 to C$13.00 in a report on Tuesday, October 10th. Barclays PLC lowered their price target on Crescent Point Energy Corp from C$21.00 to C$12.00 in a report on Monday, July 24th. Royal Bank Of Canada lowered their price target on Crescent Point Energy Corp from C$18.00 to C$14.00 in a report on Thursday, July 20th. National Bank Financial lowered their price target on Crescent Point Energy Corp from C$18.50 to C$14.00 in a report on Friday, June 23rd. Finally, CIBC lowered their price target on Crescent Point Energy Corp from C$18.00 to C$11.50 in a report on Thursday, July 20th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of C$17.22.
Shares of Crescent Point Energy Corp (CPG) opened at 9.41 on Wednesday. Crescent Point Energy Corp has a 12-month low of $8.08 and a 12-month high of $19.38. The stock has a 50 day moving average price of $9.27 and a 200 day moving average price of $10.84. The firm’s market capitalization is $5.13 billion.
The business also recently disclosed a monthly dividend, which was paid on Monday, October 16th. Investors of record on Saturday, September 30th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.36 dividend on an annualized basis and a yield of 3.83%.
In related news, insider Tamara Macdonald sold 9,053 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of C$9.90, for a total transaction of C$89,624.70. Also, insider Mark Gordon Eade sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of C$9.85, for a total value of C$44,325.00. Insiders have sold a total of 25,999 shares of company stock valued at $252,276 in the last 90 days.
Crescent Point Energy Corp Company Profile
Crescent Point Energy Corp. (Crescent Point) is a Canada-based oil and gas exploration, development and production company. The Company is an oil and gas producer with assets consisting of light and medium oil and natural gas reserves in Western Canada and the United States. Its 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.
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