Today, an analyst has provided a rating update for Crescent Point (CPG). Analyst Thomas Matthews from AltaCorp Captial remains bullish on the stock and has a C$10 price target.
According to TipRanks.com, Matthews is a 2-star analyst with an average return of 0.1% and a 38.0% success rate. Matthews covers the Basic Materials sector, focusing on stocks such as Crescent Point Energy, Bellatrix Exploration, and Baytex Energy Corp.
Currently, the analyst consensus on Crescent Point is a Moderate Buy with an average price target of C$9.03, representing a 104.3% upside. In a report released yesterday, TD Securities also upgraded the stock to Buy with a C$7.50 price target.
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Crescent Point’s market cap is currently C$2.42B and has a P/E ratio of 0. The company has a Price to Book ratio of 0.27.
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 Tuesday at C$4.42, close to its 52-week low of C$3.70.
