Crescent Point Energy (NYSE:CPG) PT Raised to $14.00 at BMO Capital Markets

Crescent Point Energy (NYSE:CPG) (TSE:CPG) had its price target upped by analysts at BMO Capital Markets from $13.00 to $14.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the oil and gas producer’s stock. BMO Capital Markets’ target price indicates a potential upside of 60.27% from the company’s previous close.

Crescent Point Energy Price Performance

Crescent Point Energy stock opened at $8.74 on Tuesday. The business has a 50-day simple moving average of $8.30 and a 200 day simple moving average of $7.41. Crescent Point Energy has a 52 week low of $6.03 and a 52 week high of $9.28. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of 12.48 and a beta of 2.17. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.46.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last announced its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.11). The firm had revenue of $743.70 million for the quarter, compared to the consensus estimate of $752.25 million. Crescent Point Energy had a net margin of 15.40% and a return on equity of 13.27%. On average, research analysts forecast that Crescent Point Energy will post 1.17 earnings per share for the current fiscal year.

Institutional Trading of Crescent Point Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Riverstone Holdings LLC bought a new stake in Crescent Point Energy in the 4th quarter worth about $289,379,000. Goldman Sachs Group Inc. boosted its holdings in shares of Crescent Point Energy by 1,534.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 9,277,441 shares of the oil and gas producer’s stock valued at $64,293,000 after acquiring an additional 8,709,962 shares during the last quarter. Ninepoint Partners LP grew its stake in shares of Crescent Point Energy by 100.0% in the third quarter. Ninepoint Partners LP now owns 16,000,000 shares of the oil and gas producer’s stock worth $132,800,000 after acquiring an additional 8,000,000 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Crescent Point Energy during the fourth quarter valued at approximately $11,663,000. Finally, HarbourVest Partners LLC bought a new position in Crescent Point Energy during the fourth quarter valued at approximately $11,620,000. 49.37% of the stock is owned by hedge funds and other institutional investors.

About Crescent Point Energy

Crescent Point Energy Corp. explores, develops, and produces oil and gas properties in Canada and the United States. The company focuses on crude oil, tight oil, natural gas liquids, shale gas, and natural gas reserves. Its properties are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota.