Bank of America Corp DE cut its holdings in shares of Crescent Point Energy Corp (NYSE:CPG) (TSE:CPG) by 11.0% in the 4th quarter, HoldingsChannel reports. The fund owned 162,742 shares of the oil and gas producer’s stock after selling 20,102 shares during the period. Bank of America Corp DE’s holdings in Crescent Point Energy were worth $492,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CPG. Cidel Asset Management Inc. acquired a new stake in shares of Crescent Point Energy during the fourth quarter valued at about $36,000. Private Advisor Group LLC acquired a new stake in shares of Crescent Point Energy during the fourth quarter valued at about $38,000. Advisor Partners LLC acquired a new stake in shares of Crescent Point Energy during the fourth quarter valued at about $41,000. Ontario Teachers Pension Plan Board acquired a new stake in shares of Crescent Point Energy during the fourth quarter valued at about $52,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Crescent Point Energy during the fourth quarter valued at about $63,000. Institutional investors own 36.87% of the company’s stock.

Several brokerages have recently weighed in on CPG. Macquarie upgraded Crescent Point Energy from a “neutral” rating to an “outperform” rating and set a $4.06 target price for the company in a research note on Thursday, April 11th. Canaccord Genuity upgraded Crescent Point Energy to a “buy” rating in a research note on Thursday, May 9th. Zacks Investment Research upgraded Crescent Point Energy from a “hold” rating to a “strong-buy” rating and set a $4.00 target price for the company in a research note on Wednesday, May 8th. Raymond James restated a “hold” rating on shares of Crescent Point Energy in a research note on Friday, May 10th. Finally, CIBC upgraded Crescent Point Energy from a “neutral” rating to a “sector outperform” rating in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $4.35.

NYSE:CPG opened at $3.87 on Tuesday. The stock has a market capitalization of $2.13 billion, a P/E ratio of 11.73 and a beta of 1.12. Crescent Point Energy Corp has a one year low of $2.43 and a one year high of $8.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.59 and a quick ratio of 0.59.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last posted its quarterly earnings results on Thursday, May 9th. The oil and gas producer reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.20. The business had revenue of $671.24 million during the quarter, compared to the consensus estimate of $621.98 million. Crescent Point Energy had a positive return on equity of 4.22% and a negative net margin of 67.99%. During the same period last year, the firm earned $0.12 earnings per share. On average, analysts predict that Crescent Point Energy Corp will post 0.36 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Saturday, June 15th will be paid a $0.007 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.03 dividend on an annualized basis and a yield of 0.72%. Crescent Point Energy’s dividend payout ratio (DPR) is 9.09%.

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Crescent Point Energy Profile

Crescent Point Energy Corp. explores, develops, and produces light and medium crude oil and natural gas reserves 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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Institutional Ownership by Quarter for Crescent Point Energy (NYSE:CPG)

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