CIBC Cuts Crescent Point Energy (CPG) Price Target to C$11.00
Several other research firms also recently weighed in on CPG. Eight Capital decreased their target price on Crescent Point Energy from C$15.00 to C$13.50 in a research report on Friday, July 27th. BMO Capital Markets decreased their target price on Crescent Point Energy from C$15.00 to C$13.50 in a research report on Friday, July 27th. CSFB raised their target price on Crescent Point Energy from C$13.00 to C$14.00 in a research report on Wednesday, July 11th. TD Securities downgraded Crescent Point Energy from a buy rating to a hold rating and decreased their target price for the company from C$13.50 to C$11.00 in a research report on Friday, July 27th. Finally, National Bank Financial decreased their target price on Crescent Point Energy from C$16.50 to C$16.00 and set an outperform rating on the stock in a research report on Friday, July 27th.
Shares of CPG stock opened at C$7.17 on Thursday. Crescent Point Energy has a 12-month low of C$6.66 and a 12-month high of C$11.81.
The company also recently announced a monthly dividend, which will be paid on Monday, September 17th. Stockholders of record on Monday, September 17th will be given a $0.03 dividend. The ex-dividend date is Thursday, August 30th. This represents a $0.36 annualized dividend and a dividend yield of 5.02%.
In related news, insider Kenneth Lamont sold 9,000 shares of the 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 value of C$87,300.00. Also, Director Michael Sidney Jackson purchased 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 20th. The stock was bought at an average cost of C$9.46 per share, with a total value of C$28,380.00.
About Crescent Point Energy
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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