Crescent Point Energy (CPG) Trading 7.4% Higher

Crescent Point Energy Co. (NYSE:CPG) (TSE:CPG) shares traded up 7.4% during mid-day trading on Thursday . The company traded as high as $7.30 and last traded at $7.27. 3,000,610 shares changed hands during mid-day trading, an increase of 87% from the average session volume of 1,602,152 shares. The stock had previously closed at $6.77.

A number of research analysts have issued reports on the stock. AltaCorp Capital restated a “buy” rating and issued a $16.25 target price on shares of Crescent Point Energy in a report on Monday, January 15th. ValuEngine lowered shares of Crescent Point Energy from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded shares of Crescent Point Energy from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a report on Friday, December 29th. Raymond James Financial lowered shares of Crescent Point Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, December 14th. Finally, UBS lowered shares of Crescent Point Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, December 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $13.69.

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The firm has a market cap of $3,967.93, a PE ratio of 51.21 and a beta of 1.51. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.44.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last released its earnings results on Thursday, March 1st. The oil and gas producer reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.13). The firm had revenue of $721.29 million during the quarter, compared to analysts’ expectations of $691.70 million. Crescent Point Energy had a negative net margin of 4.23% and a positive return on equity of 1.04%. During the same quarter last year, the company posted $0.18 earnings per share. analysts forecast that Crescent Point Energy Co. will post 0.24 EPS for the current year.

The business also recently disclosed a dividend, which will be paid on Monday, April 16th. Stockholders of record on Saturday, March 31st will be issued a dividend of $0.023 per share. The ex-dividend date of this dividend is Wednesday, March 28th. Crescent Point Energy’s payout ratio is currently 200.00%.

Several hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its holdings in shares of Crescent Point Energy by 4.6% during 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 during the period. Verition Fund Management LLC lifted its holdings in shares of Crescent Point Energy by 34.2% during 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 during the period. Guggenheim Capital LLC lifted its holdings in shares of Crescent Point Energy by 6.1% during the 4th quarter. Guggenheim Capital LLC now owns 165,860 shares of the oil and gas producer’s stock worth $1,268,000 after acquiring an additional 9,523 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Crescent Point Energy by 1.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 610,776 shares of the oil and gas producer’s stock worth $4,917,000 after acquiring an additional 10,552 shares during the period. Finally, Guardian Capital Advisors LP lifted its holdings in shares of Crescent Point Energy by 6.1% during the 3rd quarter. Guardian Capital Advisors LP now owns 192,084 shares of the oil and gas producer’s stock worth $1,754,000 after acquiring an additional 10,969 shares during the period. Institutional investors and hedge funds own 40.25% of the company’s stock.

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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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