Scotiabank Reiterates “Sector Outperform” Rating for Crescent Point Energy Corp (CPG)
Crescent Point Energy Corp (TSE:CPG)‘s stock had its “sector outperform” rating restated by stock analysts at Scotiabank in a report issued on Thursday. They currently have a C$55.00 target price on the stock, up from their previous target price of C$52.50. Scotiabank’s target price would indicate a potential upside of 24.49% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse raised their price target on shares of Crescent Point Energy Corp from C$44.00 to C$45.00 in a research note on Thursday, April 24th. They now have a “neutral” rating on the stock. Separately, analysts at CIBC raised their price target on shares of Crescent Point Energy Corp from C$50.50 to C$53.00 in a research note on Thursday, April 24th. They now have a “sector outperform” rating on the stock. Finally, analysts at Dundee Securities raised their price target on shares of Crescent Point Energy Corp from C$51.50 to C$52.50 in a research note on Thursday, April 24th. They now have a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Crescent Point Energy Corp currently has a consensus rating of “Buy” and an average target price of C$50.57.
Shares of Crescent Point Energy Corp (TSE:CPG) traded up 1.12% during mid-day trading on Thursday, hitting $44.18. The stock had a trading volume of 1,388,112 shares. Crescent Point Energy Corp has a 1-year low of $42.40 and a 1-year high of $44.81. The stock has a 50-day moving average of $43.09 and a 200-day moving average of $40.60. The company has a market cap of $17.588 billion and a price-to-earnings ratio of 114.97.
Crescent Point Energy Corp (TSE:CPG) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.17. Analysts expect that Crescent Point Energy Corp will post $1.30 EPS for the current fiscal year.
The company also recently announced a may 14 dividend, which is scheduled for Monday, June 16th. Shareholders of record on Saturday, May 31st will be paid a dividend of $0.23 per share.
Crescent Point Energy Corp. is an oil and gas exploration, development and production company. It is an oil and gas producer with assets focused in properties comprised of operated, light and medium oil and natural gas reserves in Canada and the United States.
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