BMO Capital Markets upgraded shares of Crescent Point Energy (NYSE:CPG) (TSE:CPG) from a market perform rating to an outperform rating in a research report sent to investors on Monday, Briefing.com Automated Import reports. They currently have $8.00 target price on the oil and gas producer’s stock, up from their prior target price of $6.00.

Several other research analysts have also recently commented on CPG. Royal Bank of Canada reissued a hold rating and set a $6.00 target price on shares of Crescent Point Energy in a research note on Thursday, July 18th. Raymond James set a $7.00 target price on Crescent Point Energy and gave the stock a hold rating in a research note on Wednesday, September 4th. Finally, Zacks Investment Research cut Crescent Point Energy from a buy rating to a hold rating in a research note on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Crescent Point Energy currently has a consensus rating of Buy and a consensus price target of $5.81.

CPG opened at $4.57 on Monday. Crescent Point Energy has a 12 month low of $2.43 and a 12 month high of $6.68. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 13.85 and a beta of 1.06. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.59 and a quick ratio of 0.59. The business has a fifty day moving average price of $3.36 and a 200 day moving average price of $3.40.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last released its earnings results on Thursday, July 25th. The oil and gas producer reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.04. Crescent Point Energy had a positive return on equity of 5.15% and a negative net margin of 58.40%. The firm had revenue of $706.64 million during the quarter, compared to analysts’ expectations of $724.48 million. During the same period in the previous year, the firm posted $0.19 EPS. On average, research analysts anticipate that Crescent Point Energy will post 0.47 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Sunday, September 15th will be issued a dividend of $0.008 per share. This represents a $0.03 dividend on an annualized basis and a yield of 0.70%. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, September 12th. Crescent Point Energy’s payout ratio is 9.09%.

A number of hedge funds and other institutional investors have recently made changes to their positions in CPG. Stratos Wealth Partners LTD. purchased a new stake in Crescent Point Energy during the 1st quarter worth about $32,000. Corient Capital Partners LLC purchased a new stake in Crescent Point Energy during the 2nd quarter worth about $39,000. Jefferies Group LLC purchased a new stake in Crescent Point Energy during the 2nd quarter worth about $68,000. Tower Research Capital LLC TRC lifted its holdings in Crescent Point Energy by 72.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 21,032 shares of the oil and gas producer’s stock worth $70,000 after buying an additional 8,871 shares during the last quarter. Finally, NumerixS Investment Technologies Inc lifted its holdings in Crescent Point Energy by 832.0% during the 1st quarter. NumerixS Investment Technologies Inc now owns 46,600 shares of the oil and gas producer’s stock worth $150,000 after buying an additional 41,600 shares during the last quarter. 31.72% of the stock is owned by institutional investors.

About Crescent Point Energy

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, Montana, and Utah.

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Analyst Recommendations for Crescent Point Energy (NYSE:CPG)

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