A number of other equities research analysts have also commented on the company. Raymond James dropped their price target on Crescent Point Energy from C$13.00 to C$11.00 in a research report on Friday, October 5th. BMO Capital Markets decreased their price objective on Crescent Point Energy from C$13.50 to C$10.00 and set an outperform rating for the company in a report on Thursday, September 6th. TD Securities decreased their price target on Crescent Point Energy from C$11.00 to C$9.50 and set a hold rating for the company in a research note on Thursday, September 6th. CIBC decreased their price target on Crescent Point Energy from C$13.00 to C$11.00 in a research note on Thursday, September 6th. Finally, National Bank Financial decreased their price target on Crescent Point Energy from C$16.50 to C$16.00 and set an outperform rating for the company in a research note on Friday, July 27th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of C$12.14.
TSE:CPG traded down C$0.17 during mid-day trading on Tuesday, hitting C$5.64. The company had a trading volume of 4,189,000 shares, compared to its average volume of 3,467,529. The company has a debt-to-equity ratio of 47.71, a current ratio of 0.41 and a quick ratio of 0.35. Crescent Point Energy has a fifty-two week low of C$5.47 and a fifty-two week high of C$11.81.
The company also recently declared a monthly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be issued a dividend of $0.03 per share. The ex-dividend date is Tuesday, October 30th. This represents a $0.36 annualized dividend and a yield of 6.38%. Crescent Point Energy’s payout ratio is currently -33.64%.
In related news, insider Bradley Harlan Borggard acquired 15,000 shares of the company’s stock in a transaction on Friday, September 7th. The stock was purchased at an average cost of C$6.87 per share, with a total value of C$103,050.00. Also, Director Craig Stephen Bryksa acquired 13,500 shares of the company’s stock in a transaction on Monday, October 29th. The stock was bought at an average cost of C$6.77 per share, with a total value of C$91,395.00. Over the last three months, insiders have purchased 31,665 shares of company stock valued at $217,277.
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.
Further Reading: Understanding Market Liquidity
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