Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) shares gapped down prior to trading on Wednesday . The stock had previously closed at $8.00, but opened at $7.80. Crescent Point Energy Corporation shares last traded at $7.71, with a volume of 2,286,064 shares.

Several brokerages have recently issued reports on CPG. ValuEngine upgraded shares of Crescent Point Energy Corporation from a “sell” rating to a “hold” rating in a report on Thursday. Zacks Investment Research cut shares of Crescent Point Energy Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Desjardins cut shares of Crescent Point Energy Corporation from a “buy” rating to a “hold” rating in a report on Wednesday. Scotiabank restated a “buy” rating and set a $17.00 target price on shares of Crescent Point Energy Corporation in a report on Tuesday. Finally, Royal Bank Of Canada restated a “hold” rating and set a $14.00 target price 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 given a buy rating to the stock. Crescent Point Energy Corporation presently has a consensus rating of “Hold” and an average price target of $13.33.

Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas producer reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.08. The company had revenue of $605.03 million during the quarter, compared to analysts’ expectations of $602.04 million. Crescent Point Energy Corporation had a positive return on equity of 1.83% and a negative net margin of 13.80%. During the same period last year, the business earned $0.03 earnings per share.

The business also recently declared a monthly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be given a dividend of $0.025 per share. This is a boost from Crescent Point Energy Corporation’s previous monthly dividend of $0.02. This represents a $0.30 annualized dividend and a yield of 3.98%. The ex-dividend date is Thursday, September 28th. Crescent Point Energy Corporation’s dividend payout ratio (DPR) is currently -51.72%.

A number of hedge funds have recently made changes to their positions in CPG. Franklin Resources Inc. raised its position in Crescent Point Energy Corporation by 80.4% during the second quarter. Franklin Resources Inc. now owns 19,360,075 shares of the oil and gas producer’s stock valued at $148,170,000 after acquiring an additional 8,628,868 shares in the last quarter. Fiera Capital Corp grew its holdings in Crescent Point Energy Corporation by 1,017.4% in the second quarter. Fiera Capital Corp now owns 1,880,707 shares of the oil and gas producer’s stock valued at $14,361,000 after purchasing an additional 1,712,394 shares during the period. Lincluden Management Ltd. grew its holdings in Crescent Point Energy Corporation by 32.7% in the second quarter. Lincluden Management Ltd. now owns 4,146,652 shares of the oil and gas producer’s stock valued at $32,668,000 after purchasing an additional 1,021,491 shares during the period. Morgan Stanley grew its holdings in Crescent Point Energy Corporation by 184.0% in the first quarter. Morgan Stanley now owns 1,357,720 shares of the oil and gas producer’s stock valued at $14,691,000 after purchasing an additional 879,625 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Crescent Point Energy Corporation 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 purchasing an additional 626,506 shares during the period. Institutional investors own 38.99% of the company’s stock.

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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.

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