ValuEngine cut shares of Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) from a hold rating to a sell rating in a report issued on Friday morning.

Several other research firms have also recently issued reports on CPG. AltaCorp Capital restated an outperform rating on shares of Crescent Point Energy Corporation in a report on Tuesday, May 9th. BidaskClub upgraded Crescent Point Energy Corporation from a strong sell rating to a sell rating in a report on Monday, July 31st. Finally, Zacks Investment Research cut Crescent Point Energy Corporation from a buy rating to a hold rating in a report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $20.94.

Crescent Point Energy Corporation (NYSE CPG) opened at 6.93 on Friday. Crescent Point Energy Corporation has a 52 week low of $6.46 and a 52 week high of $15.75. The firm’s market cap is $3.78 billion. The stock has a 50 day moving average price of $7.18 and a 200 day moving average price of $9.09.

Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas producer reported $0.05 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $605.03 million for the quarter, compared to analysts’ expectations of $602.04 million. During the same quarter last year, the firm earned $0.03 earnings per share. Equities research analysts expect that Crescent Point Energy Corporation will post $0.20 EPS for the current year.

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The firm also recently disclosed a monthly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.024 per share. This is a boost from Crescent Point Energy Corporation’s previous monthly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.29 annualized dividend and a dividend yield of 4.16%. Crescent Point Energy Corporation’s dividend payout ratio (DPR) is -48.28%.

A number of institutional investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd boosted its holdings in Crescent Point Energy Corporation by 511.7% in the second quarter. Dynamic Technology Lab Private Ltd now owns 106,006 shares of the oil and gas producer’s stock valued at $811,000 after acquiring an additional 88,675 shares during the last quarter. Verition Fund Management LLC acquired a new position in Crescent Point Energy Corporation in the second quarter valued at $420,000. Scotia Capital Inc. boosted its holdings in Crescent Point Energy Corporation by 3.8% in the second quarter. Scotia Capital Inc. now owns 3,226,740 shares of the oil and gas producer’s stock valued at $24,685,000 after acquiring an additional 118,507 shares during the last quarter. Bank of Nova Scotia boosted its holdings in Crescent Point Energy Corporation by 0.9% in the second quarter. Bank of Nova Scotia now owns 1,560,454 shares of the oil and gas producer’s stock valued at $11,943,000 after acquiring an additional 14,496 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in Crescent Point Energy Corporation by 97.9% in the second quarter. Cubist Systematic Strategies LLC now owns 83,911 shares of the oil and gas producer’s stock valued at $642,000 after acquiring an additional 41,520 shares during the last quarter. Hedge funds and other institutional investors own 38.99% of the company’s stock.

About Crescent Point Energy Corporation

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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

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