CSFB Boosts Crescent Point Energy (CPG) Price Target to C$13.00

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its price objective lifted by stock analysts at CSFB from C$12.00 to C$13.00 in a report released on Friday. CSFB’s price objective indicates a potential upside of 27.95% from the stock’s previous close.

Several other brokerages have also issued reports on CPG. CIBC boosted their price target on shares of Crescent Point Energy from C$11.00 to C$12.50 in a report on Tuesday, January 23rd. TD Securities boosted their price target on shares of Crescent Point Energy from C$15.00 to C$15.50 and gave the company a “buy” rating in a report on Wednesday, January 10th. National Bank Financial boosted their price target on shares of Crescent Point Energy from C$12.00 to C$16.00 and gave the company an “outperform” rating in a report on Tuesday, January 9th. Barclays decreased their price target on shares of Crescent Point Energy from C$14.00 to C$12.00 in a report on Friday, March 2nd. Finally, Royal Bank of Canada boosted their price target on shares of Crescent Point Energy from C$12.00 to C$13.00 and gave the company a “sector perform” rating in a report on Wednesday, January 10th.

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Shares of CPG stock traded up C$0.17 on Friday, hitting C$10.16. The stock had a trading volume of 2,091,952 shares, compared to its average volume of 3,829,203. Crescent Point Energy has a twelve month low of C$8.08 and a twelve month high of C$14.47.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last announced its quarterly earnings results on Thursday, March 1st. The company reported C($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.10 by C($0.16). Crescent Point Energy had a net margin of 6.44% and a return on equity of 2.23%. The firm had revenue of C$916.00 million during the quarter, compared to analyst estimates of C$875.60 million.

In related news, insider Mark Gordon Eade sold 2,500 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of C$11.10, for a total value of C$27,750.00. Also, Director Scott Saxberg bought 5,883 shares of Crescent Point Energy stock in a transaction that occurred on Wednesday, March 28th. The stock was bought at an average cost of C$8.52 per share, with a total value of C$50,123.16. Over the last ninety days, insiders purchased 33,883 shares of company stock valued at $295,205.

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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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