Vanguard Group Inc. Buys 242,451 Shares of Crescent Point Energy Co. (CPG)
Vanguard Group Inc. increased its stake in shares of Crescent Point Energy Co. (NYSE:CPG) (TSE:CPG) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,339,008 shares of the oil and gas producer’s stock after buying an additional 242,451 shares during the period. Vanguard Group Inc. owned approximately 2.26% of Crescent Point Energy worth $133,508,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CPG. Mackenzie Financial Corp increased its position in Crescent Point Energy by 9.8% in the first quarter. Mackenzie Financial Corp now owns 12,311,553 shares of the oil and gas producer’s stock valued at $133,211,000 after buying an additional 1,101,347 shares during the period. Sentry Investments Corp. increased its position in Crescent Point Energy by 26.8% in the first quarter. Sentry Investments Corp. now owns 9,249,737 shares of the oil and gas producer’s stock valued at $132,919,000 after buying an additional 1,952,850 shares during the period. Wellington Management Group LLP increased its position in Crescent Point Energy by 18.0% in the first quarter. Wellington Management Group LLP now owns 4,105,026 shares of the oil and gas producer’s stock valued at $44,232,000 after buying an additional 626,506 shares during the period. Cidel Asset Management Inc. increased its position in Crescent Point Energy by 20.0% in the first quarter. Cidel Asset Management Inc. now owns 3,508,540 shares of the oil and gas producer’s stock valued at $34,676,000 after buying an additional 585,292 shares during the period. Finally, Lincluden Management Ltd. increased its position in Crescent Point Energy 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 during the period. Hedge funds and other institutional investors own 41.00% of the company’s stock.
Shares of Crescent Point Energy Co. (CPG) traded down 0.15% during trading on Friday, reaching $6.84. 779,541 shares of the company traded hands. Crescent Point Energy Co. has a 1-year low of $6.67 and a 1-year high of $16.63. The stock’s 50 day moving average is $7.35 and its 200 day moving average is $9.42. The company’s market capitalization is $3.73 billion.
Crescent Point Energy (NYSE:CPG) (TSE:CPG) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas producer reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.08. Crescent Point Energy 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 analysts’ expectations of $602.04 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. On average, analysts forecast that Crescent Point Energy Co. will post $0.19 EPS for the current year.
The company also recently disclosed a monthly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a $0.024 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.29 dividend on an annualized basis and a yield of 4.21%. This is a boost from Crescent Point Energy’s previous monthly dividend of $0.02. Crescent Point Energy’s payout ratio is currently -48.28%.
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Several equities analysts have recently issued reports on CPG shares. BidaskClub downgraded shares of Crescent Point Energy from a “sell” rating to a “strong sell” rating in a report on Sunday, August 6th. Zacks Investment Research downgraded shares of Crescent Point Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 26th. AltaCorp Capital reiterated an “outperform” rating on shares of Crescent Point Energy in a report on Tuesday, May 9th. Finally, ValuEngine upgraded shares of Crescent Point Energy from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $20.94.
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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