Crescent Point Energy (CPG) Price Target Cut to C$11.00

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Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its price target decreased by stock analysts at CIBC from C$13.00 to C$11.00 in a research note issued on Thursday. CIBC’s price target suggests a potential upside of 53.42% from the stock’s current price.

Several other brokerages have also recently issued reports on CPG. CSFB lifted their target price on shares of Crescent Point Energy from C$13.00 to C$14.00 in a report on Wednesday, July 11th. National Bank Financial decreased their target price on shares of Crescent Point Energy from C$16.50 to C$16.00 and set an “outperform” rating for the company in a report on Friday, July 27th. TD Securities cut shares of Crescent Point Energy from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$13.50 to C$11.00 in a report on Friday, July 27th. Eight Capital decreased their target price on shares of Crescent Point Energy from C$15.00 to C$13.50 in a report on Friday, July 27th. Finally, BMO Capital Markets decreased their target price on shares of Crescent Point Energy from C$15.00 to C$13.50 in a report on Friday, July 27th.

Shares of Crescent Point Energy stock opened at C$7.17 on Thursday. Crescent Point Energy has a 52-week low of C$6.66 and a 52-week high of C$11.81.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last issued its earnings results on Thursday, July 26th. The company reported C$0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.12 by C$0.07. The business had revenue of C$931.90 million during the quarter, compared to analysts’ expectations of C$942.60 million. Crescent Point Energy had a net margin of 6.44% and a return on equity of 2.23%.

In related news, Director Michael Sidney Jackson purchased 3,000 shares of Crescent Point Energy stock in a transaction dated Wednesday, June 20th. The stock was purchased at an average cost of C$9.46 per share, for a total transaction of C$28,380.00. Also, insider Kenneth Lamont sold 9,000 shares of Crescent Point Energy stock in a transaction that occurred on Wednesday, July 4th. The stock was sold at an average price of C$9.70, for a total transaction of C$87,300.00.

Crescent Point Energy 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, and Utah.

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