Crescent Point Energy (TSE:CPG) Price Target Lowered to C$5.50 at BMO Capital Markets
Crescent Point Energy (TSE:CPG) (NYSE:CPG) had its price target lowered by equities researchers at BMO Capital Markets from C$6.00 to C$5.50 in a report issued on Friday, BayStreet.CA reports. BMO Capital Markets’ target price points to a potential upside of 38.89% from the stock’s current price.
A number of other brokerages have also weighed in on CPG. CIBC upgraded Crescent Point Energy from a “neutral” rating to an “outperform” rating in a research note on Friday, May 10th. Raymond James reaffirmed a “market perform” rating and set a C$7.00 price objective on shares of Crescent Point Energy in a research report on Friday, May 10th. Canaccord Genuity lifted their target price on Crescent Point Energy from C$7.00 to C$8.00 in a report on Tuesday, April 9th. Finally, National Bank Financial lifted their target price on Crescent Point Energy from C$6.50 to C$8.50 in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Crescent Point Energy presently has a consensus rating of “Buy” and an average target price of C$8.60.
CPG stock traded down C$0.04 during trading hours on Friday, hitting C$3.96. 1,729,935 shares of the stock were exchanged, compared to its average volume of 5,297,164. The company has a debt-to-equity ratio of 66.23, a current ratio of 0.59 and a quick ratio of 0.44. Crescent Point Energy has a 12 month low of C$3.24 and a 12 month high of C$10.31. The stock has a market capitalization of $2.18 billion and a price-to-earnings ratio of -0.86.
About Crescent Point Energy
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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