StockNews.com Begins Coverage on Crescent Point Energy (NYSE:CPG)

StockNews.com began coverage on shares of Crescent Point Energy (NYSE:CPG) (TSE:CPG) in a report published on Thursday morning. The firm issued a hold rating on the oil and gas producer’s stock.

Separately, BMO Capital Markets upped their target price on Crescent Point Energy from $13.00 to $14.00 and gave the stock an outperform rating in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $13.81.

Crescent Point Energy Stock Performance

The company has a current ratio of 1.03, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company’s fifty day moving average price is $8.46 and its 200-day moving average price is $7.44. The stock has a market cap of $5.32 billion, a P/E ratio of -107.36 and a beta of 2.17. Crescent Point Energy has a one year low of $6.03 and a one year high of $9.28.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last posted its quarterly 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). The firm had revenue of $743.70 million for the quarter, compared to analysts’ expectations of $752.25 million. Crescent Point Energy had a negative net margin of 1.95% and a positive return on equity of 12.92%. As a group, analysts predict that Crescent Point Energy will post 1.04 EPS for the current fiscal year.

Crescent Point Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Saturday, June 15th will be issued a $0.083 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.33 dividend on an annualized basis and a yield of ?. Crescent Point Energy’s payout ratio is -424.95%.

Hedge Funds Weigh In On Crescent Point Energy

A number of large investors have recently bought and sold shares of CPG. Riverstone Holdings LLC acquired a new position in Crescent Point Energy in the 4th quarter worth about $289,379,000. Goldman Sachs Group Inc. raised its holdings 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 worth $64,293,000 after purchasing an additional 8,709,962 shares during the period. Ninepoint Partners LP raised its holdings in Crescent Point Energy by 18.8% in the 4th quarter. Ninepoint Partners LP now owns 19,000,000 shares of the oil and gas producer’s stock worth $131,670,000 after purchasing an additional 3,000,000 shares during the period. Vanguard Group Inc. raised its holdings in Crescent Point Energy by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 22,849,456 shares of the oil and gas producer’s stock worth $187,137,000 after purchasing an additional 2,439,105 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in Crescent Point Energy in the 4th quarter worth about $11,663,000. Institutional investors and hedge funds 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.