In a report released yesterday, Chris Cox from Raymond James upgraded Crescent Point Energy (CPG) to Hold, with a price target of C$2.25. The company’s shares closed last Wednesday at $1.65.
According to TipRanks.com, Cox has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -5.1% and a 43.1% success rate. Cox covers the Utilities sector, focusing on stocks such as Advantage Oil & Gas, Paramount Resources, and Canadian Natural.
The word on The Street in general, suggests a Hold analyst consensus rating for Crescent Point Energy with a $1.70 average price target, a 6.3% upside from current levels. In a report issued on July 6, RBC Capital also maintained a Hold rating on the stock with a C$2.75 price target.
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Based on Crescent Point Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $487 million and GAAP net loss of $2.32 billion. In comparison, last year the company earned revenue of $781 million and had a net profit of $1.9 million.
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CPG in relation to earlier this year.
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Crescent Point Energy Corp. engages in the exploration, development, and production of oil and gas properties. It focuses on the following locations: Viewfield Bakken, Shaunavon, Flat Lake, Duvernay, and Uinta Basin. The company was founded on April 20, 1994 and is headquartered in Calgary, Canada.
