Connor Clark & Lunn Investment Management Ltd. Sells 1,558,300 Shares of Crescent Point Energy Corp. (NYSE:CPG)

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in shares of Crescent Point Energy Corp. (NYSE:CPG – Get Rating) (TSE:CPG) by 59.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,058,798 shares of the oil and gas producer’s stock after selling 1,558,300 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.19% of Crescent Point Energy worth $7,554,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Advisor Group Holdings Inc. increased its holdings in Crescent Point Energy by 175.7% in the 4th quarter. Advisor Group Holdings Inc. now owns 24,121 shares of the oil and gas producer’s stock worth $171,000 after purchasing an additional 15,371 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Crescent Point Energy by 2.4% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 97,800 shares of the oil and gas producer’s stock valued at $697,000 after buying an additional 2,300 shares during the period. MQS Management LLC acquired a new stake in shares of Crescent Point Energy in the fourth quarter valued at about $231,000. First Trust Advisors LP increased its stake in shares of Crescent Point Energy by 1.4% in the fourth quarter. First Trust Advisors LP now owns 3,016,430 shares of the oil and gas producer’s stock valued at $21,562,000 after buying an additional 42,999 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Crescent Point Energy by 21.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,633,669 shares of the oil and gas producer’s stock valued at $61,730,000 after buying an additional 1,536,043 shares during the period. 32.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CPG shares. StockNews.com initiated coverage on Crescent Point Energy in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Raymond James raised Crescent Point Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, March 22nd.

Crescent Point Energy Price Performance

Shares of NYSE CPG opened at $6.46 on Friday. The stock has a market cap of $3.51 billion, a PE ratio of 9.10 and a beta of 2.22. Crescent Point Energy Corp. has a fifty-two week low of $5.51 and a fifty-two week high of $10.96. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a fifty day moving average of $7.03 and a 200-day moving average of $7.14.

Crescent Point Energy (NYSE:CPG – Get Rating) (TSE:CPG) last announced its earnings results on Thursday, March 2nd. The oil and gas producer reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The business had revenue of $748.85 million during the quarter. Crescent Point Energy had a return on equity of 13.81% and a net margin of 12.59%. Equities research analysts anticipate that Crescent Point Energy Corp. will post 1.21 earnings per share for the current year.

Crescent Point Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 4th. Stockholders of record on Thursday, June 15th will be given a dividend of $0.074 per share. The ex-dividend date is Wednesday, June 14th. This represents a $0.30 annualized dividend and a dividend yield of 4.58%. Crescent Point Energy’s dividend payout ratio (DPR) is presently 40.85%.

About Crescent Point Energy

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Crescent Point Energy Corp. engages in the exploration, development, and production of oil and gas properties. Its focus areas include: Viewfield Bakken, Flat Lake Torquay, and Shaunavon. The company was founded on April 20, 1994 and is headquartered in Calgary, Canada.