Crescent Point Energy (NYSE:CPG) (TSE:CPG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Crescent Point Energy Corp. is engaged in the acquisition, exploration and development of oil and natural gas properties in Western Canada. The Company’s operations consist of light and medium oil and natural gas assets strategically focused in core areas in southern Saskatchewan and central and southern Alberta. Crescent Point Energy Corp., formerly known as Crescent Point Energy Trust, is headquartered in Calgary, Canada. “
Several other equities research analysts have also recently weighed in on CPG. UBS Group cut Crescent Point Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, December 14th. Raymond James Financial lowered Crescent Point Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 14th. ValuEngine raised Crescent Point Energy from a “sell” rating to a “hold” rating in a research report on Friday, December 15th. Finally, AltaCorp Capital reissued a “buy” rating and issued a $16.25 price target on shares of Crescent Point Energy in a research report on Monday, January 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $13.69.
Shares of Crescent Point Energy (CPG) traded down $0.03 during mid-day trading on Tuesday, hitting $6.64. The company’s stock had a trading volume of 1,256,647 shares, compared to its average volume of 1,530,000. Crescent Point Energy has a twelve month low of $6.40 and a twelve month high of $11.45. The stock has a market cap of $3,640.00, a PE ratio of -36.89 and a beta of 1.51. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.44.
Crescent Point Energy (NYSE:CPG) (TSE:CPG) last issued its earnings results on Thursday, March 1st. The oil and gas producer reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.13). Crescent Point Energy had a positive return on equity of 1.04% and a negative net margin of 4.23%. The firm had revenue of $721.29 million during the quarter, compared to analysts’ expectations of $691.70 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. analysts forecast that Crescent Point Energy will post 0.24 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC raised its position in shares of Crescent Point Energy by 3.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 113,088 shares of the oil and gas producer’s stock worth $865,000 after acquiring an additional 3,407 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Crescent Point Energy by 5.3% in the 3rd quarter. Van ECK Associates Corp now owns 114,003 shares of the oil and gas producer’s stock worth $918,000 after acquiring an additional 5,690 shares in the last quarter. Swiss National Bank raised its position in shares of Crescent Point Energy by 0.3% in the 3rd quarter. Swiss National Bank now owns 2,103,361 shares of the oil and gas producer’s stock worth $16,896,000 after acquiring an additional 6,400 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Crescent Point Energy by 4.6% in the 4th quarter. Wells Fargo & Company MN now owns 194,184 shares of the oil and gas producer’s stock worth $1,480,000 after acquiring an additional 8,603 shares in the last quarter. Finally, Verition Fund Management LLC raised its position in shares of Crescent Point Energy by 34.2% in the 4th quarter. Verition Fund Management LLC now owns 36,033 shares of the oil and gas producer’s stock worth $275,000 after acquiring an additional 9,184 shares in the last quarter. 40.29% of the stock is owned by hedge funds and other institutional investors.
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Crescent Point Energy Company Profile
Crescent Point Energy Corp. acquires, explores, develops, and produces light and medium oil and natural gas properties in Western Canada and the United States. The company's crude oil and natural gas properties, and related assets are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota, Montana, Colorado, and Utah.
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