Crescent Point Energy (NYSE:CPG) Sees Unusually-High Trading Volume

Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) shares saw unusually-high trading volume on Thursday . Approximately 1,964,267 shares changed hands during trading, a decline of 66% from the previous session’s volume of 5,703,201 shares.The stock last traded at $8.88 and had previously closed at $8.76.

Crescent Point Energy Stock Up 1.6 %

The firm’s 50-day simple moving average is $7.46 and its 200 day simple moving average is $7.31. The company has a market cap of $5.52 billion, a P/E ratio of 12.52 and a beta of 2.23. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 0.76.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last issued its earnings results on Thursday, February 29th. The oil and gas producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.11). The business had revenue of $743.70 million for the quarter, compared to the consensus estimate of $752.25 million. Crescent Point Energy had a net margin of 15.40% and a return on equity of 13.27%. On average, research analysts forecast that Crescent Point Energy Corp. will post 1.22 earnings per share for the current fiscal year.

Crescent Point Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.086 per share. This is a boost from Crescent Point Energy’s previous quarterly dividend of $0.07. The ex-dividend date was Thursday, March 14th. This represents a $0.34 annualized dividend and a dividend yield of 3.87%. Crescent Point Energy’s payout ratio is presently 48.57%.

Institutional Trading of Crescent Point Energy

A number of large investors have recently made changes to their positions in CPG. Riverstone Holdings LLC bought a new stake in shares of Crescent Point Energy in the 4th quarter valued at $289,379,000. Goldman Sachs Group Inc. lifted its stake in Crescent Point Energy by 1,534.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 9,277,441 shares of the oil and gas producer’s stock valued at $64,293,000 after purchasing an additional 8,709,962 shares during the last quarter. Ninepoint Partners LP lifted its stake in Crescent Point Energy by 100.0% in the 3rd quarter. Ninepoint Partners LP now owns 16,000,000 shares of the oil and gas producer’s stock valued at $132,800,000 after purchasing an additional 8,000,000 shares during the last quarter. Renaissance Technologies LLC lifted its position in Crescent Point Energy by 294.0% during the first quarter. Renaissance Technologies LLC now owns 6,350,887 shares of the oil and gas producer’s stock worth $46,064,000 after acquiring an additional 4,739,152 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Crescent Point Energy by 2,053.3% during the fourth quarter. Point72 Asset Management L.P. now owns 2,728,200 shares of the oil and gas producer’s stock worth $19,473,000 after acquiring an additional 2,601,500 shares during the last quarter. Institutional investors own 49.37% of the company’s stock.

Crescent Point Energy Company Profile

Crescent Point Energy Corp. explores, develops, and produces oil and gas properties in Canada and the United States. The company focuses on crude oil, tight oil, natural gas liquids, shale gas, and natural gas reserves. Its properties are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota.