In a report released today, Jason Bouvier from Scotiabank maintained a Buy rating on Crescent Point Energy (CPG – Research Report), with a price target of C$12.00. The company’s shares closed yesterday at $7.30.
Bouvier covers the Energy sector, focusing on stocks such as Cenovus Energy, Suncor Energy, and Baytex Energy. According to TipRanks, Bouvier has an average return of 18.4% and a 59.54% success rate on recommended stocks.
Currently, the analyst consensus on Crescent Point Energy is a Strong Buy with an average price target of $9.83, a 34.66% upside from current levels. In a report released yesterday, RBC Capital also reiterated a Buy rating on the stock with a C$13.00 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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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