NewGen Asset Management Ltd Purchases New Position in Crescent Point Energy Corp. (NYSE:CPG)

NewGen Asset Management Ltd acquired a new stake in Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) in the 4th quarter, Holdings Channel reports. The fund acquired 1,675,000 shares of the oil and gas producer’s stock, valued at approximately $11,608,000. Crescent Point Energy comprises approximately 6.0% of NewGen Asset Management Ltd’s investment portfolio, making the stock its 7th largest position.

Several other hedge funds also recently made changes to their positions in CPG. SG Americas Securities LLC purchased a new position in shares of Crescent Point Energy during the third quarter worth approximately $528,000. Bank of New York Mellon Corp increased its stake in Crescent Point Energy by 8.3% in the third quarter. Bank of New York Mellon Corp now owns 43,119 shares of the oil and gas producer’s stock valued at $358,000 after purchasing an additional 3,298 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Crescent Point Energy by 14.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 100,095 shares of the oil and gas producer’s stock valued at $834,000 after buying an additional 12,667 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Crescent Point Energy by 0.4% during the third quarter. TD Asset Management Inc now owns 2,308,159 shares of the oil and gas producer’s stock worth $19,223,000 after buying an additional 9,004 shares during the period. Finally, Ninepoint Partners LP grew its holdings in shares of Crescent Point Energy by 100.0% during the third quarter. Ninepoint Partners LP now owns 16,000,000 shares of the oil and gas producer’s stock worth $132,800,000 after buying an additional 8,000,000 shares during the last quarter. Hedge funds and other institutional investors own 49.37% of the company’s stock.

Crescent Point Energy Stock Performance

CPG stock traded down $0.06 during trading on Friday, hitting $8.65. The company had a trading volume of 3,522,018 shares, compared to its average volume of 5,840,417. The firm has a 50-day moving average price of $8.20 and a 200-day moving average price of $7.40. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.46. The firm has a market cap of $5.36 billion, a PE ratio of 12.36 and a beta of 2.17. Crescent Point Energy Corp. has a 1-year low of $6.03 and a 1-year high of $9.28.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last announced its earnings results on Thursday, February 29th. The oil and gas producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.11). Crescent Point Energy had a net margin of 15.40% and a return on equity of 13.27%. The company had revenue of $743.70 million during the quarter, compared to analysts’ expectations of $752.25 million. On average, analysts expect that Crescent Point Energy Corp. will post 1.17 earnings per share for the current year.

Crescent Point Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.086 dividend. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.07. This represents a $0.34 annualized dividend and a dividend yield of 3.98%. The ex-dividend date was Thursday, March 14th. Crescent Point Energy’s dividend payout ratio (DPR) is 48.57%.

About Crescent Point Energy

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.