Crescent Point Energy (NYSE:CPG) (TSE:CPG) has been assigned a consensus rating of “Hold” from the nine brokerages that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $15.75.
A number of analysts recently issued reports on the stock. ValuEngine downgraded shares of Crescent Point Energy from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Zacks Investment Research downgraded shares of Crescent Point Energy from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Finally, AltaCorp Capital restated a “buy” rating and set a $16.25 price objective on shares of Crescent Point Energy in a report on Monday, January 15th.
Shares of CPG traded down $0.07 during trading hours on Wednesday, reaching $7.89. 466,898 shares of the stock traded hands, compared to its average volume of 1,606,770. 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 has a 52 week low of $6.40 and a 52 week high of $10.90. The firm has a market capitalization of $4,344.52, a P/E ratio of 56.86 and a beta of 1.50.
The firm also recently announced a dividend, which will be paid on Monday, April 16th. Stockholders of record on Saturday, March 31st will be paid a $0.023 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. Crescent Point Energy’s payout ratio is 200.00%.
Several institutional investors and hedge funds have recently bought and sold shares of CPG. Bank of New York Mellon Corp increased its stake in shares of Crescent Point Energy by 1.8% in the third quarter. Bank of New York Mellon Corp now owns 610,776 shares of the oil and gas producer’s stock worth $4,917,000 after purchasing an additional 10,552 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Crescent Point Energy by 84.3% in the third quarter. Russell Investments Group Ltd. now owns 49,736 shares of the oil and gas producer’s stock worth $399,000 after purchasing an additional 22,754 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Crescent Point Energy by 6,240.3% in the third quarter. Wells Fargo & Company MN now owns 185,581 shares of the oil and gas producer’s stock worth $1,494,000 after purchasing an additional 182,654 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Crescent Point Energy in the third quarter worth about $490,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Crescent Point Energy in the third quarter worth about $5,331,000. Hedge funds and other institutional investors own 40.17% of the company’s stock.
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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, and Utah.
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