TD Asset Management Inc. reduced its holdings in Crescent Point Energy Corp (NYSE:CPG) (TSE:CPG) by 29.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,004,711 shares of the oil and gas producer’s stock after selling 1,261,662 shares during the period. TD Asset Management Inc. owned about 0.55% of Crescent Point Energy worth $9,956,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Crescent Point Energy by 77.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,636,608 shares of the oil and gas producer’s stock worth $24,751,000 after acquiring an additional 3,323,404 shares in the last quarter. Norges Bank purchased a new stake in Crescent Point Energy in the 4th quarter worth about $21,929,000. Scheer Rowlett & Associates Investment Management Ltd. lifted its stake in Crescent Point Energy by 2.3% in the 1st quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 6,260,751 shares of the oil and gas producer’s stock worth $20,292,000 after acquiring an additional 137,957 shares in the last quarter. Waratah Capital Advisors Ltd. lifted its stake in Crescent Point Energy by 45.9% in the 2nd quarter. Waratah Capital Advisors Ltd. now owns 3,998,417 shares of the oil and gas producer’s stock worth $13,229,000 after acquiring an additional 1,258,436 shares in the last quarter. Finally, Intact Investment Management Inc. lifted its stake in Crescent Point Energy by 2,237.1% in the 2nd quarter. Intact Investment Management Inc. now owns 3,304,700 shares of the oil and gas producer’s stock worth $14,276,000 after acquiring an additional 3,163,300 shares in the last quarter. 34.08% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the company. Royal Bank of Canada reissued a “hold” rating and issued a $6.00 price objective on shares of Crescent Point Energy in a research note on Thursday, July 18th. Zacks Investment Research lowered Crescent Point Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. CIBC raised Crescent Point Energy from a “neutral” rating to a “sector outperform” rating in a research report on Thursday, May 9th. Canaccord Genuity raised Crescent Point Energy to a “buy” rating in a research report on Thursday, May 9th. Finally, Raymond James reaffirmed a “hold” rating on shares of Crescent Point Energy in a research report on Friday, May 10th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Crescent Point Energy presently has an average rating of “Buy” and a consensus target price of $4.77.Shares of CPG stock opened at $3.00 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.59 and a quick ratio of 0.59. Crescent Point Energy Corp has a fifty-two week low of $2.43 and a fifty-two week high of $6.68. The stock’s 50-day moving average is $3.14 and its two-hundred day moving average is $3.31. The firm has a market cap of $1.64 billion, a P/E ratio of 9.09 and a beta of 1.07.
Crescent Point Energy (NYSE:CPG) (TSE:CPG) last issued its earnings results on Thursday, July 25th. The oil and gas producer reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.04. Crescent Point Energy had a positive return on equity of 5.15% and a negative net margin of 58.40%. The company had revenue of $706.64 million for the quarter, compared to analyst estimates of $724.48 million. During the same period in the prior year, the firm posted $0.19 EPS. As a group, research analysts expect that Crescent Point Energy Corp will post 0.45 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Sunday, September 15th will be given a $0.008 dividend. This is a positive change from Crescent Point Energy’s previous quarterly dividend of $0.01. This represents a $0.03 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, September 12th. Crescent Point Energy’s dividend payout ratio is presently 9.09%.
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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