Crescent Point Energy Corp (NYSE:CPG) (TSE:CPG) shares fell 5.9% during mid-day trading on Friday . The stock traded as low as $4.45 and last traded at $4.50. 1,988,983 shares changed hands during trading, an increase of 28% from the average session volume of 1,556,524 shares. The stock had previously closed at $4.78.
Several research firms have recently issued reports on CPG. ValuEngine downgraded Crescent Point Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 19th. BMO Capital Markets downgraded Crescent Point Energy from an “outperform” rating to a “market perform” rating in a research note on Monday, October 22nd. Zacks Investment Research raised shares of Crescent Point Energy from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a research note on Tuesday, October 16th. TD Securities reissued a “hold” rating on shares of Crescent Point Energy in a research note on Sunday, October 28th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Crescent Point Energy in a research note on Tuesday, October 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $11.38.
The company has a market cap of $2.68 billion, a price-to-earnings ratio of 32.14 and a beta of 1.28. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.48 and a current ratio of 0.48.
The company also recently announced a monthly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be paid a $0.023 dividend. This represents a $0.28 annualized dividend and a yield of 6.13%. The ex-dividend date is Tuesday, October 30th. Crescent Point Energy’s payout ratio is 200.00%.
Hedge funds have recently made changes to their positions in the stock. Intact Investment Management Inc. raised its stake in Crescent Point Energy by 12.6% in the 2nd quarter. Intact Investment Management Inc. now owns 3,475,620 shares of the oil and gas producer’s stock valued at $33,540,000 after purchasing an additional 388,900 shares during the last quarter. Renaissance Technologies LLC raised its stake in Crescent Point Energy by 372.5% in the 2nd quarter. Renaissance Technologies LLC now owns 374,200 shares of the oil and gas producer’s stock valued at $2,750,000 after purchasing an additional 295,000 shares during the last quarter. Bank of Montreal Can raised its stake in Crescent Point Energy by 5.1% in the 3rd quarter. Bank of Montreal Can now owns 12,652,603 shares of the oil and gas producer’s stock valued at $80,344,000 after purchasing an additional 619,015 shares during the last quarter. Jane Street Group LLC acquired a new position in Crescent Point Energy in the 2nd quarter valued at about $882,000. Finally, Millennium Management LLC grew its holdings in Crescent Point Energy by 43.7% in the 1st quarter. Millennium Management LLC now owns 225,910 shares of the oil and gas producer’s stock valued at $1,536,000 after buying an additional 68,652 shares during the period. 38.98% of the stock is owned by hedge funds and other institutional investors.
About Crescent Point Energy (NYSE:CPG)
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, and Utah.
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