Royal Bank of Canada Trims Crescent Point Energy (TSE:CPG) Target Price to C$6.00

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its target price decreased by Royal Bank of Canada from C$7.00 to C$6.00 in a research note issued to investors on Thursday, BayStreet.CA reports.

Other equities analysts have also issued reports about the company. CIBC increased their price target on Quebecor from C$34.00 to C$35.00 in a research note on Friday, May 10th. Canaccord Genuity reaffirmed a buy rating and set a $7.50 price target on shares of in a research note on Tuesday, July 9th. Raymond James reaffirmed a buy rating on shares of Canadian Natural Resources in a research note on Friday, May 10th. BMO Capital Markets reaffirmed a hold rating and set a $9.50 price target on shares of Vicon Industries in a research note on Friday, June 14th. Finally, National Bank Financial decreased their price target on Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating for the company in a research note on Tuesday, June 25th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of C$7.83.

CPG opened at C$4.07 on Thursday. Crescent Point Energy has a 12 month low of C$3.24 and a 12 month high of C$9.70. The company has a current ratio of 0.59, a quick ratio of 0.44 and a debt-to-equity ratio of 66.23. The firm has a market cap of $2.23 billion and a PE ratio of -0.89. The firm has a 50 day simple moving average of C$4.21.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last issued its quarterly earnings results on Thursday, May 9th. The company reported C$0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.03 by C$0.26. The firm had revenue of C$892.40 million for the quarter, compared to the consensus estimate of C$836.00 million. As a group, equities analysts predict that Crescent Point Energy will post 0.54 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Saturday, June 15th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.98%. Crescent Point Energy’s dividend payout ratio is -6.10%.

Crescent Point Energy Company Profile

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.

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Analyst Recommendations for Crescent Point Energy (TSE:CPG)

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