Crescent Point Energy’s (CPG) “Hold” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their hold rating on shares of Crescent Point Energy (NYSE:CPG) (TSE:CPG) in a report released on Thursday morning, AnalystRatings.com reports. Royal Bank of Canada currently has a $6.00 target price on the oil and gas producer’s stock.

A number of other research firms have also recently commented on CPG. Zacks Investment Research cut shares of H&E Equipment Services from a hold rating to a sell rating in a research report on Wednesday. Macquarie raised shares of Husky Energy from an underperform rating to a neutral rating in a research report on Thursday, April 11th. Canaccord Genuity reissued a hold rating and set a $20.00 target price (down previously from $29.00) on shares of Sailpoint Technologies in a research report on Thursday, May 9th. Raymond James reissued a buy rating on shares of Canadian Natural Resources in a research report on Friday, May 10th. Finally, CIBC raised shares of Crescent Point Energy from a neutral rating to a sector outperform rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $4.77.

NYSE CPG opened at $3.12 on Thursday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.62. The company’s 50 day simple moving average is $3.19. Crescent Point Energy has a 52-week low of $2.43 and a 52-week high of $7.41. The company has a market capitalization of $1.71 billion, a P/E ratio of 9.45 and a beta of 1.08.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last posted its earnings results on Thursday, May 9th. The oil and gas producer reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.20. Crescent Point Energy had a negative net margin of 67.99% and a positive return on equity of 4.22%. The company had revenue of $671.24 million during the quarter, compared to analysts’ expectations of $621.98 million. During the same quarter in the prior year, the company posted $0.12 earnings per share. As a group, equities research analysts expect that Crescent Point Energy will post 0.36 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Saturday, June 15th were given a dividend of $0.007 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.03 dividend on an annualized basis and a yield of 0.90%. Crescent Point Energy’s payout ratio is 9.09%.

Large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Crescent Point Energy by 1.8% in the fourth quarter. BlackRock Inc. now owns 303,255 shares of the oil and gas producer’s stock worth $916,000 after buying an additional 5,393 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new position in shares of Crescent Point Energy in the first quarter worth $32,000. Jane Street Group LLC purchased a new position in shares of Crescent Point Energy in the fourth quarter worth $70,000. HRT Financial LLC purchased a new position in shares of Crescent Point Energy in the fourth quarter worth $74,000. Finally, Northern Trust Corp raised its holdings in shares of Crescent Point Energy by 5.8% in the fourth quarter. Northern Trust Corp now owns 460,368 shares of the oil and gas producer’s stock worth $1,390,000 after buying an additional 25,039 shares during the last quarter. 32.35% 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.

Further Reading: The primary rules of Elliott Wave theory

Analyst Recommendations for Crescent Point Energy (NYSE:CPG)

Receive News & Ratings for Crescent Point Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crescent Point Energy and related companies with MarketBeat.com's FREE daily email newsletter.