Crescent Point (CPG), the Materials sector company, was revisited by a Wall Street analyst today. Analyst Michael Harvey from RBC Capital rated Crescent Point (CPG) a Hold, setting a C$6 price target.
According to TipRanks.com, Harvey is a 3-star analyst with an average return of 0.6% and a 41.5% success rate. Harvey covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, Crescent Point Energy, and Birchcliff Energy Ltd.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Crescent Point with a C$9.46 average price target, representing an 112.1% upside. In a report released today, BMO Capital also reiterated a Hold rating on the stock with a C$5 price target.
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Based on Crescent Point’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$911 million and net profit of C$30.5 million. 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$4.46, close to its 52-week low of C$3.70.
