CIBC Raises Crescent Point Energy (CPG) Price Target to C$12.50

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its target price upped by research analysts at CIBC from C$11.00 to C$12.50 in a report issued on Tuesday. CIBC’s price target indicates a potential upside of 15.85% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. TD Securities dropped their price objective on Crescent Point Energy from C$16.00 to C$15.00 and set a “buy” rating for the company in a research note on Friday, October 27th. Barclays dropped their price objective on Crescent Point Energy from C$12.00 to C$11.00 in a research note on Monday, October 30th. BMO Capital Markets dropped their price objective on Crescent Point Energy from C$14.00 to C$13.00 in a research note on Tuesday, October 10th. National Bank Financial lifted their price objective on Crescent Point Energy from C$12.00 to C$16.00 and gave the company an “outperform” rating in a research note on Tuesday, January 9th. Finally, Royal Bank of Canada lifted their price objective on Crescent Point Energy from C$12.00 to C$13.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 10th.

Crescent Point Energy (TSE:CPG) traded up C$0.20 during mid-day trading on Tuesday, reaching C$10.79. The company’s stock had a trading volume of 3,663,846 shares, compared to its average volume of 4,075,848. The firm has a market capitalization of $6,120.00, a PE ratio of -10.08 and a beta of 1.13. Crescent Point Energy has a one year low of C$8.08 and a one year high of C$16.64.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last posted its earnings results on Thursday, October 26th. The company reported C$0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.03) by C$0.09. Crescent Point Energy had a negative return on equity of 11.49% and a negative net margin of 41.50%.

In other Crescent Point Energy news, insider Mark Gordon Eade sold 6,500 shares of Crescent Point Energy stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of C$10.80, for a total transaction of C$70,200.00. Also, Director D. Hugh Gillard sold 3,000 shares of Crescent Point Energy stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of C$9.08, for a total value of C$27,240.00. Over the last quarter, insiders sold 15,786 shares of company stock valued at $156,541.

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About Crescent Point Energy

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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