Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $9.00 target price on the oil and gas producer’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 15.38% from the company’s current price.

According to Zacks, “Crescent Point Energy Corp. is engaged in the acquisition, exploration and development of oil and natural gas properties in Western Canada. The Company’s operations consist of light and medium oil and natural gas assets strategically focused in core areas in southern Saskatchewan and central and southern Alberta. Crescent Point Energy Corp., formerly known as Crescent Point Energy Trust, is headquartered in Calgary, Canada. “

A number of other equities analysts also recently commented on CPG. Scotiabank restated a “buy” rating and issued a $17.00 price objective on shares of Crescent Point Energy Corporation in a report on Tuesday. Royal Bank Of Canada restated a “hold” rating and issued a $14.00 price objective on shares of Crescent Point Energy Corporation in a report on Monday, September 25th. BidaskClub upgraded Crescent Point Energy Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, ValuEngine upgraded Crescent Point Energy Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $13.33.

Crescent Point Energy Corporation (NYSE:CPG) traded up 0.91% during trading on Tuesday, hitting $7.80. The stock had a trading volume of 889,410 shares. Crescent Point Energy Corporation has a 12 month low of $6.46 and a 12 month high of $14.74. The stock’s market cap is $4.25 billion. The firm has a 50 day moving average of $7.37 and a 200-day moving average of $8.42.

Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) last released its quarterly earnings data on Thursday, July 27th. The oil and gas producer reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08. Crescent Point Energy Corporation had a positive return on equity of 1.83% and a negative net margin of 13.80%. The firm had revenue of $605.03 million for the quarter, compared to the consensus estimate of $602.04 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. Equities analysts predict that Crescent Point Energy Corporation will post $0.21 earnings per share for the current year.

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Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its position in Crescent Point Energy Corporation by 1,273.5% during the first quarter. Tower Research Capital LLC TRC now owns 7,142 shares of the oil and gas producer’s stock worth $103,000 after purchasing an additional 6,622 shares during the period. Sciencast Management LP boosted its position in Crescent Point Energy Corporation by 26.6% during the second quarter. Sciencast Management LP now owns 15,244 shares of the oil and gas producer’s stock worth $117,000 after purchasing an additional 3,204 shares during the period. DekaBank Deutsche Girozentrale boosted its position in Crescent Point Energy Corporation by 19.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 22,244 shares of the oil and gas producer’s stock worth $171,000 after purchasing an additional 3,600 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Crescent Point Energy Corporation during the first quarter worth approximately $187,000. Finally, Candriam Luxembourg S.C.A. boosted its position in Crescent Point Energy Corporation by 14.7% during the second quarter. Candriam Luxembourg S.C.A. now owns 33,488 shares of the oil and gas producer’s stock worth $256,000 after purchasing an additional 4,290 shares during the period. 38.99% of the stock is owned by hedge funds and other institutional investors.

Crescent Point Energy Corporation 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.

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Analyst Recommendations for Crescent Point Energy Corporation (NYSE:CPG)

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