Crescent Point Energy (TSE:CPG) Price Target Cut to C$14.00

Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its price objective reduced by equities research analysts at GMP Securities from C$14.25 to C$14.00 in a research report issued on Friday, May 4th. GMP Securities’ price objective points to a potential upside of 28.09% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Barclays reduced their price target on Crescent Point Energy from C$14.00 to C$12.00 in a research report on Friday, March 2nd. CIBC increased their price target on Crescent Point Energy from C$11.00 to C$12.50 in a research report on Tuesday, January 23rd. Raymond James upped their target price on Crescent Point Energy from C$10.00 to C$13.00 in a research note on Tuesday, April 24th. CSFB upped their target price on Crescent Point Energy from C$12.00 to C$13.00 in a research note on Friday, April 13th. Finally, TD Securities cut their target price on Crescent Point Energy from C$15.50 to C$14.50 and set a “buy” rating for the company in a research note on Friday, March 2nd.

TSE:CPG traded down C$0.08 on Friday, hitting C$10.93. The company’s stock had a trading volume of 3,068,378 shares, compared to its average volume of 3,944,683. Crescent Point Energy has a one year low of C$8.08 and a one year high of C$13.51.

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

In related news, Director Scott Saxberg bought 5,883 shares of the stock in a transaction that occurred on Wednesday, March 28th. The stock was acquired 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 have purchased 36,183 shares of company stock valued at $320,321.

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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