In a new note to investors on March 8, an analyst has provided a rating update for the Materials sector company, Crescent Point (CPG). On March 8, analyst Thomas Matthews gave a Buy rating to CPG and set a C$9.25 price target.
According to TipRanks.com, Matthews is a 1-star analyst with an average return of -1.9% and a 37.3% success rate. Matthews covers the Basic Materials sector, focusing on stocks such as Crescent Point Energy, Bellatrix Exploration, and Obsidian Energy Ltd.
Currently, the analyst consensus on Crescent Point is a Moderate Buy with an average price target of C$6.75.
Based on Crescent Point’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of C$2.39 billion. In comparison, last year the company had a GAAP net loss of C$56.4 million.
Crescent Point Energy Corp. engages in the exploration, development, and production of oil and gas properties. The firm also acquires, develops, and holds interests in petroleum and natural gas properties. It focuses on the following locations: Williston, Southwest Saskatchewan, and Uinta Basin.
The company’s shares closed on Monday at C$3.97, close to its 52-week low of C$3.24.
