Crescent Point Energy Corp (CPG) Price Target Cut to C$11.50 by Analysts at CIBC
Crescent Point Energy Corp (TSE:CPG) (NYSE:CPG) had its price objective reduced by investment analysts at CIBC from C$18.00 to C$11.50 in a report issued on Thursday. CIBC’s price target would suggest a potential upside of 22.34% from the company’s current price.
CPG has been the subject of a number of other reports. National Bank Financial cut their price objective on Crescent Point Energy Corp from C$18.50 to C$14.00 in a research note on Friday, June 23rd. Royal Bank Of Canada cut their price objective on Crescent Point Energy Corp from C$21.00 to C$18.00 and set a “sector perform” rating for the company in a research note on Friday, April 28th. Scotiabank reiterated an “outperform” rating and set a C$26.00 price objective on shares of Crescent Point Energy Corp in a research note on Friday, April 28th. Finally, TD Securities reiterated a “buy” rating and set a C$21.00 price objective on shares of Crescent Point Energy Corp in a research note on Friday, April 28th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Crescent Point Energy Corp presently has a consensus rating of “Buy” and a consensus price target of C$20.96.
Shares of Crescent Point Energy Corp (TSE:CPG) traded down 4.37% during midday trading on Thursday, hitting $9.40. 2,461,748 shares of the stock were exchanged. The stock’s market cap is $5.12 billion. Crescent Point Energy Corp has a 52-week low of $8.97 and a 52-week high of $22.00. The firm’s 50 day moving average price is $10.43 and its 200-day moving average price is $13.56.
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In other news, insider Tamara Macdonald sold 9,247 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of C$9.39, for a total transaction of C$86,829.33. Also, insider Bradley Harlan Borggard sold 4,800 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of C$13.65, for a total value of C$65,520.00. Over the last three months, insiders purchased 8,500 shares of company stock worth $97,630 and sold 27,847 shares worth $290,355.
About Crescent Point Energy Corp
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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