Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) was downgraded by research analysts at Desjardins from a “buy” rating to a “hold” rating in a report issued on Wednesday.

CPG has been the topic of several other reports. BidaskClub raised Crescent Point Energy Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research raised Crescent Point Energy Corporation from a “hold” rating to a “strong-buy” rating and set a $8.25 price objective on the stock in a report on Tuesday, July 11th. ValuEngine lowered Crescent Point Energy Corporation from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Scotiabank reissued a “buy” rating and issued a $17.00 price objective on shares of Crescent Point Energy Corporation in a report on Tuesday. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $14.00 price objective on shares of Crescent Point Energy Corporation in a report on Monday, September 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $13.33.

Crescent Point Energy Corporation (NYSE CPG) opened at 7.53 on Wednesday. Crescent Point Energy Corporation has a 12-month low of $6.46 and a 12-month high of $14.74. The stock’s market capitalization is $4.11 billion. The company has a 50-day moving average price of $7.45 and a 200-day moving average price of $8.39.

Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas producer reported $0.05 EPS for the quarter, beating 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 company had revenue of $605.03 million for the quarter, compared to analyst estimates of $602.04 million. During the same period last year, the company earned $0.03 earnings per share. Analysts expect that Crescent Point Energy Corporation will post $0.20 earnings per share for the current fiscal year.

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Several large investors have recently modified their holdings of CPG. Bank of New York Mellon Corp boosted its stake in shares of Crescent Point Energy Corporation by 6.9% in the first quarter. Bank of New York Mellon Corp now owns 719,867 shares of the oil and gas producer’s stock worth $7,789,000 after acquiring an additional 46,778 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Crescent Point Energy Corporation by 24.8% in the first quarter. Parametric Portfolio Associates LLC now owns 109,681 shares of the oil and gas producer’s stock worth $1,187,000 after acquiring an additional 21,795 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Crescent Point Energy Corporation by 1.6% in the first quarter. JPMorgan Chase & Co. now owns 460,257 shares of the oil and gas producer’s stock worth $4,979,000 after acquiring an additional 7,246 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Crescent Point Energy Corporation in the first quarter worth approximately $187,000. Finally, Alliancebernstein L.P. boosted its stake in shares of Crescent Point Energy Corporation by 59.7% in the first quarter. Alliancebernstein L.P. now owns 71,302 shares of the oil and gas producer’s stock worth $771,000 after acquiring an additional 26,665 shares during the last quarter. 38.99% of the stock is currently owned by hedge funds and other institutional investors.

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.

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

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