Cidel Asset Management Inc. cut its stake in shares of Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) by 29.8% during the second quarter, Holdings Channel reports. The firm owned 2,463,732 shares of the oil and gas producer’s stock after selling 1,044,808 shares during the period. Cidel Asset Management Inc.’s holdings in Crescent Point Energy Corporation were worth $18,825,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CPG. Goldman Sachs Group Inc. boosted its position in Crescent Point Energy Corporation by 58.6% in the first quarter. Goldman Sachs Group Inc. now owns 394,140 shares of the oil and gas producer’s stock valued at $4,264,000 after buying an additional 145,647 shares during the period. AQR Capital Management LLC boosted its position in 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 during the period. Vanguard Group Inc. boosted its position in Crescent Point Energy Corporation by 2.0% in the first quarter. Vanguard Group Inc. now owns 12,339,008 shares of the oil and gas producer’s stock valued at $133,508,000 after buying an additional 242,451 shares during the period. Jane Street Group LLC boosted its position in 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 during the period. Finally, Korea Investment CORP boosted its position in Crescent Point Energy Corporation by 1.9% in the second quarter. Korea Investment CORP now owns 34,122 shares of the oil and gas producer’s stock valued at $261,000 after buying an additional 645 shares during the period. Institutional investors own 41.00% of the company’s stock.

Shares of Crescent Point Energy Corporation (NYSE:CPG) opened at 6.85 on Friday. The company’s market cap is $3.74 billion. The stock has a 50 day moving average of $7.38 and a 200-day moving average of $9.46. Crescent Point Energy Corporation has a 12 month low of $6.67 and a 12 month high of $17.04.

Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas producer reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.08. Crescent Point Energy Corporation had a negative net margin of 13.80% and a positive return on equity of 1.83%. The business had revenue of $605.03 million during the quarter, compared to the consensus estimate of $602.04 million. During the same quarter last year, the firm posted $0.03 EPS. On average, analysts forecast that Crescent Point Energy Corporation will post $0.19 EPS for the current year.

The firm also recently declared a monthly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a $0.024 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.29 annualized dividend and a yield of 4.20%. This is an increase from Crescent Point Energy Corporation’s previous monthly dividend of $0.02. Crescent Point Energy Corporation’s dividend payout ratio (DPR) is presently -48.28%.

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CPG has been the subject of several research analyst reports. Zacks Investment Research cut shares of Crescent Point Energy Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 2nd. ValuEngine cut shares of Crescent Point Energy Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. BidaskClub upgraded shares of Crescent Point Energy Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, AltaCorp Capital reiterated an “outperform” rating on shares of Crescent Point Energy Corporation in a report on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $20.94.

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Institutional Ownership by Quarter for Crescent Point Energy Corporation (NYSE:CPG)

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