Crossmark Global Holdings Inc. Sells 13,070 Shares of Crescent Point Energy Corp (CPG)
Crossmark Global Holdings Inc. reduced its stake in Crescent Point Energy Corp (NYSE:CPG) (TSE:CPG) by 25.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,683 shares of the oil and gas producer’s stock after selling 13,070 shares during the period. Crossmark Global Holdings Inc.’s holdings in Crescent Point Energy were worth $284,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of CPG. Toronto Dominion Bank boosted its position in shares of Crescent Point Energy by 372.8% in the 1st quarter. Toronto Dominion Bank now owns 2,337,157 shares of the oil and gas producer’s stock worth $15,869,000 after purchasing an additional 1,842,797 shares during the last quarter. PCJ Investment Counsel Ltd. bought a new position in Crescent Point Energy during the first quarter worth about $9,890,000. Point72 Asset Management L.P. bought a new position in Crescent Point Energy during the first quarter worth about $6,794,000. Cumberland Partners Ltd lifted its holdings in Crescent Point Energy by 133.0% during the first quarter. Cumberland Partners Ltd now owns 1,651,000 shares of the oil and gas producer’s stock worth $11,209,000 after acquiring an additional 942,400 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in Crescent Point Energy by 5.6% during the second quarter. Bank of Montreal Can now owns 12,033,588 shares of the oil and gas producer’s stock worth $88,447,000 after acquiring an additional 634,447 shares in the last quarter. Institutional investors and hedge funds own 37.41% of the company’s stock.
Several research analysts have weighed in on the company. Zacks Investment Research lowered Crescent Point Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 2nd. ValuEngine lowered Crescent Point Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, July 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $14.31.
Crescent Point Energy (NYSE:CPG) (TSE:CPG) last posted its earnings results on Thursday, July 26th. The oil and gas producer reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.06. The firm had revenue of $718.68 million for the quarter, compared to analyst estimates of $706.95 million. Crescent Point Energy had a positive return on equity of 1.80% and a negative net margin of 16.48%. During the same period in the previous year, the company posted $0.07 earnings per share. analysts predict that Crescent Point Energy Corp will post -0.17 earnings per share for the current year.
The company also recently declared a monthly dividend, which will be paid on Wednesday, August 15th. Shareholders of record on Tuesday, July 31st will be paid a $0.023 dividend. This represents a $0.28 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend is Monday, July 30th. Crescent Point Energy’s dividend payout ratio is 192.86%.
Crescent Point Energy 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, and Utah.
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