Zacks Investment Research upgraded shares of Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday, July 11th. The brokerage currently has $8.25 price objective on the oil and gas producer’s stock.

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. “

Several other analysts have also weighed in on the company. AltaCorp Capital restated an outperform rating on shares of Crescent Point Energy Corporation in a report on Tuesday, May 9th. ValuEngine lowered Crescent Point Energy Corporation from a hold rating to a sell rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $20.94.

Shares of Crescent Point Energy Corporation (NYSE CPG) opened at 7.50 on Tuesday. Crescent Point Energy Corporation has a 12-month low of $6.97 and a 12-month high of $17.22. The stock’s market cap is $4.09 billion. The stock’s 50 day moving average is $7.68 and its 200-day moving average is $9.83.

Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas producer reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.08. Crescent Point Energy Corporation had a positive return on equity of 1.83% and a negative net margin of 13.80%. The company had revenue of $605.03 million during the quarter, compared to analyst estimates of $602.04 million. During the same quarter in the previous year, the firm posted $0.03 EPS. Equities analysts anticipate that Crescent Point Energy Corporation will post $0.20 EPS for the current fiscal year.

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The business also recently announced a monthly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be issued a dividend of $0.023 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.68%. This is an increase from Crescent Point Energy Corporation’s previous monthly dividend of $0.02. The ex-dividend date is Thursday, July 27th. Crescent Point Energy Corporation’s dividend payout ratio is currently -48.28%.

Several large investors have recently made changes to their positions in CPG. FMR LLC increased its stake in shares of Crescent Point Energy Corporation by 29.1% in the fourth quarter. FMR LLC now owns 1,042,300 shares of the oil and gas producer’s stock valued at $14,168,000 after buying an additional 234,700 shares in the last quarter. Lincluden Management Ltd. increased its stake in shares of Crescent Point Energy Corporation by 221.5% in the fourth quarter. Lincluden Management Ltd. now owns 2,377,466 shares of the oil and gas producer’s stock valued at $32,281,000 after buying an additional 1,637,975 shares in the last quarter. Comerica Bank increased its stake in shares of Crescent Point Energy Corporation by 11.3% in the fourth quarter. Comerica Bank now owns 63,068 shares of the oil and gas producer’s stock valued at $799,000 after buying an additional 6,411 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Crescent Point Energy Corporation by 0.6% in the first quarter. AQR Capital Management LLC now owns 317,425 shares of the oil and gas producer’s stock valued at $3,420,000 after buying an additional 1,980 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Crescent Point Energy Corporation by 311.7% in the first quarter. Jane Street Group LLC now owns 97,709 shares of the oil and gas producer’s stock valued at $1,057,000 after buying an additional 73,975 shares in the last quarter. 41.75% of the stock is owned by institutional investors and hedge funds.

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Analyst Recommendations for Crescent Point Energy Corporation (NYSE:CPG)

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