Crescent Point Energy Corp (NYSE:CPG) (TSE:CPG) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 2,159,535 shares, a decline of 38.4% from the February 15th total of 3,505,565 shares. Based on an average daily trading volume, of 2,274,811 shares, the days-to-cover ratio is presently 0.9 days.
Shares of NYSE CPG opened at $3.07 on Tuesday. Crescent Point Energy has a 12 month low of $2.43 and a 12 month high of $9.20. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.63. The stock has a market cap of $1.69 billion, a PE ratio of 9.30 and a beta of 1.01.
Crescent Point Energy (NYSE:CPG) (TSE:CPG) last issued its quarterly earnings data on Thursday, March 7th. The oil and gas producer reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.11). Crescent Point Energy had a positive return on equity of 2.79% and a negative net margin of 68.90%. The business had revenue of $599.03 million for the quarter, compared to analysts’ expectations of $741.38 million. During the same period in the previous year, the firm posted ($0.06) EPS. Sell-side analysts anticipate that Crescent Point Energy will post 0.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be issued a dividend of $0.007 per share. This represents a $0.03 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Thursday, March 14th. Crescent Point Energy’s payout ratio is 9.09%.
Large investors have recently added to or reduced their stakes in the stock. Cidel Asset Management Inc. bought a new stake in Crescent Point Energy in the 4th quarter worth approximately $36,000. Private Advisor Group LLC bought a new stake in Crescent Point Energy in the 4th quarter worth approximately $38,000. Advisor Partners LLC bought a new stake in Crescent Point Energy in the 4th quarter worth approximately $41,000. Ontario Teachers Pension Plan Board bought a new position in shares of Crescent Point Energy during the fourth quarter valued at approximately $52,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Crescent Point Energy during the fourth quarter valued at approximately $63,000. Institutional investors own 36.91% of the company’s stock.
CPG has been the subject of a number of recent analyst reports. TD Securities raised Crescent Point Energy from a “hold” rating to a “buy” rating in a report on Monday, January 7th. BMO Capital Markets reaffirmed an “average” rating and set a $5.00 target price on shares of Crescent Point Energy in a report on Monday, January 7th. Canaccord Genuity lowered Crescent Point Energy to a “buy” rating in a report on Thursday, January 10th. Zacks Investment Research raised Crescent Point Energy from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a report on Wednesday, January 16th. Finally, Raymond James reaffirmed a “hold” rating on shares of Crescent Point Energy in a report on Wednesday, January 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $4.38.
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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, and Utah.
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