Deutsche Bank AG cut its stake in shares of Crescent Point Energy Co. (NYSE:CPG) (TSE:CPG) by 31.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 933,524 shares of the oil and gas producer’s stock after selling 427,034 shares during the quarter. Deutsche Bank AG owned approximately 0.17% of Crescent Point Energy worth $7,112,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ontario Teachers Pension Plan Board bought a new position in shares of Crescent Point Energy during the fourth quarter valued at $142,000. Virtu Financial LLC lifted its holdings in shares of Crescent Point Energy by 63.1% during the fourth quarter. Virtu Financial LLC now owns 28,546 shares of the oil and gas producer’s stock valued at $217,000 after acquiring an additional 11,040 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Crescent Point Energy by 114.3% during the fourth quarter. Acadian Asset Management LLC now owns 50,800 shares of the oil and gas producer’s stock valued at $388,000 after acquiring an additional 27,100 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Crescent Point Energy by 84.3% during the third quarter. Russell Investments Group Ltd. now owns 49,736 shares of the oil and gas producer’s stock valued at $399,000 after acquiring an additional 22,754 shares during the period. Finally, Capital Management Associates NY bought a new position in shares of Crescent Point Energy during the fourth quarter valued at $472,000. 40.25% of the stock is owned by institutional investors.
Crescent Point Energy stock opened at $7.17 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.59 and a quick ratio of 0.59. Crescent Point Energy Co. has a 12-month low of $6.40 and a 12-month high of $11.40. The stock has a market capitalization of $3,967.93, a P/E ratio of 51.21 and a beta of 1.51.
The firm also recently declared a dividend, which will be paid on Monday, April 16th. Investors of record on Saturday, March 31st will be issued a $0.023 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. Crescent Point Energy’s dividend payout ratio is 200.00%.
A number of research analysts have issued reports on CPG shares. AltaCorp Capital reissued a “buy” rating and set a $16.25 price objective on shares of Crescent Point Energy in a report on Monday, January 15th. Zacks Investment Research raised Crescent Point Energy from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a report on Friday, December 29th. ValuEngine raised Crescent Point Energy from a “sell” rating to a “hold” rating in a report on Friday, December 15th. Raymond James Financial cut Crescent Point Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, December 14th. Finally, UBS cut Crescent Point Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, December 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Crescent Point Energy presently has an average rating of “Hold” and a consensus price target of $13.69.
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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, Colorado, and Utah.
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