Capital Guardian Trust Co. cut its holdings in Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) by 47.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,000 shares of the oil and gas producer’s stock after selling 34,000 shares during the quarter. Capital Guardian Trust Co.’s holdings in Crescent Point Energy Corporation were worth $283,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Franklin Resources Inc. grew its holdings in Crescent Point Energy Corporation by 80.4% during the 2nd quarter. Franklin Resources Inc. now owns 19,360,075 shares of the oil and gas producer’s stock worth $148,170,000 after acquiring an additional 8,628,868 shares during the period. Vanguard Group Inc. raised its position in shares of Crescent Point Energy Corporation by 4.8% during the 2nd quarter. Vanguard Group Inc. now owns 12,931,504 shares of the oil and gas producer’s stock valued at $98,925,000 after acquiring an additional 592,496 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Crescent Point Energy Corporation by 9.8% during the 1st quarter. Mackenzie Financial Corp now owns 12,311,553 shares of the oil and gas producer’s stock valued at $133,211,000 after acquiring an additional 1,101,347 shares during the last quarter. CIBC World Markets Inc. raised its position in shares of Crescent Point Energy Corporation by 2.9% during the 2nd quarter. CIBC World Markets Inc. now owns 8,005,875 shares of the oil and gas producer’s stock valued at $61,245,000 after acquiring an additional 223,642 shares during the last quarter. Finally, Lincluden Management Ltd. raised its position in shares of Crescent Point Energy Corporation by 32.7% during the 2nd quarter. Lincluden Management Ltd. now owns 4,146,652 shares of the oil and gas producer’s stock valued at $32,668,000 after acquiring an additional 1,021,491 shares during the last quarter. 38.99% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently issued reports on CPG. Zacks Investment Research lowered Crescent Point Energy Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 27th. Royal Bank Of Canada reiterated a “hold” rating and issued a $14.00 price objective on shares of Crescent Point Energy Corporation in a report on Monday, September 25th. BidaskClub raised Crescent Point Energy Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, ValuEngine raised Crescent Point Energy Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $17.00.

Shares of Crescent Point Energy Corporation (NYSE:CPG) traded up 1.14% during midday trading on Tuesday, reaching $7.97. 426,634 shares of the company’s stock traded hands. The stock’s market cap is $4.35 billion. The stock has a 50-day moving average price of $7.22 and a 200-day moving average price of $8.52. Crescent Point Energy Corporation has a 52-week low of $6.46 and a 52-week high of $14.74.

Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) last released 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 consensus estimate of ($0.03) by $0.08. The firm had revenue of $605.03 million during the quarter, compared to analyst estimates of $602.04 million. Crescent Point Energy Corporation had a negative net margin of 13.80% and a positive return on equity of 1.83%. During the same quarter last year, the business earned $0.03 EPS. Analysts forecast that Crescent Point Energy Corporation will post $0.21 earnings per share for the current year.

The company also recently disclosed a monthly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be paid a $0.025 dividend. This is a positive change from Crescent Point Energy Corporation’s previous monthly dividend of $0.02. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Thursday, September 28th. Crescent Point Energy Corporation’s dividend payout ratio is currently -51.72%.

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

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