Crescent Point Energy Corp. (CPG) Lowered to “Sell” at Zacks Investment Research
According to Zacks, “Crescent Point Energy Corp. is engaged in the acquisition, exploration and development of oil and natural gas properties in Western Canada. The Company’s operations consist of light and medium oil and natural gas assets strategically focused in core areas in southern Saskatchewan and central and southern Alberta. Crescent Point Energy Corp., formerly known as Crescent Point Energy Trust, is headquartered in Calgary, Canada. “
Other equities analysts have also recently issued research reports about the company. TD Securities upgraded Crescent Point Energy Corp. to a buy rating and boosted their target price for the stock from $27.00 to $31.00 in a research report on Thursday, June 30th. Canaccord Genuity reiterated a buy rating on shares of Crescent Point Energy Corp. in a research report on Friday, August 12th. Dundee Securities cut Crescent Point Energy Corp. from a buy rating to a neutral rating in a research report on Friday, September 9th. Finally, Barclays PLC upgraded Crescent Point Energy Corp. from an equal weight rating to an overweight rating and boosted their target price for the stock from $23.00 to $28.00 in a research report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Crescent Point Energy Corp. has an average rating of Buy and a consensus target price of $28.86.
Crescent Point Energy Corp. (NYSE:CPG) traded down 1.15% during mid-day trading on Wednesday, reaching $12.91. The company had a trading volume of 113,878 shares. The company’s market capitalization is $6.55 billion. Crescent Point Energy Corp. has a 12 month low of $7.82 and a 12 month high of $18.95. The firm’s 50 day moving average price is $13.92 and its 200-day moving average price is $15.31.
Crescent Point Energy Corp. (NYSE:CPG) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.10. Crescent Point Energy Corp. had a positive return on equity of 2.78% and a negative net margin of 35.05%. Equities research analysts anticipate that Crescent Point Energy Corp. will post ($0.44) earnings per share for the current year.
The firm also recently declared a dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.023 per share. The ex-dividend date is Wednesday, September 28th. Crescent Point Energy Corp.’s dividend payout ratio (DPR) is presently -20.00%.
Several large investors have recently added to or reduced their stakes in CPG. Mackenzie Financial Corp acquired a new stake in Crescent Point Energy Corp. during the second quarter worth $111,628,000. Sentry Investments Corp. boosted its stake in Crescent Point Energy Corp. by 243.1% in the second quarter. Sentry Investments Corp. now owns 4,413,687 shares of the company’s stock worth $90,083,000 after buying an additional 3,127,100 shares during the period. 1832 Asset Management L.P. boosted its stake in Crescent Point Energy Corp. by 92.3% in the first quarter. 1832 Asset Management L.P. now owns 5,125,185 shares of the company’s stock worth $119,178,000 after buying an additional 2,459,604 shares during the period. CIBC Asset Management Inc boosted its stake in Crescent Point Energy Corp. by 51.0% in the second quarter. CIBC Asset Management Inc now owns 5,730,824 shares of the company’s stock worth $90,047,000 after buying an additional 1,934,815 shares during the period. Finally, Citadel Advisors LLC boosted its stake in Crescent Point Energy Corp. by 1,303.3% in the second quarter. Citadel Advisors LLC now owns 2,036,934 shares of the company’s stock worth $32,072,000 after buying an additional 1,891,785 shares during the period. 40.02% of the stock is currently owned by institutional investors.
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