In a report released on February 20, Michael Harvey from RBC Capital maintained a Buy rating on Crescent Point Energy (CPG – Research Report), with a price target of C$13.00. The company’s shares closed yesterday at $7.12.
According to TipRanks, Harvey is a 5-star analyst with an average return of 18.8% and a 52.93% success rate. Harvey covers the Energy sector, focusing on stocks such as ARC Resources, Advantage Energy, and Crescent Point Energy.
Crescent Point Energy has an analyst consensus of Strong Buy, with a price target consensus of $9.88, representing a 38.76% upside. In a report released on February 5, Stifel Nicolaus also maintained a Buy rating on the stock with a C$14.00 price target.
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Based on Crescent Point Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.01 billion and a GAAP net loss of $809.9 million. In comparison, last year the company earned a revenue of $954.4 million and had a net profit of $143.2 million
Based on the recent corporate insider activity of 30 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 (CPG) Company Description:
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.
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