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JPMorgan Chase & Co. Buys 625,987 Shares of Crescent Point Energy Corp (NYSE:CPG)

By September 11, 2019 No Comments

JPMorgan Chase & Co. increased its position in Crescent Point Energy Corp (NYSE:CPG) (TSE:CPG) by 46.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,966,569 shares of the oil and gas producer’s stock after buying an additional 625,987 shares during the period. JPMorgan Chase & Co. owned 0.36% of Crescent Point Energy worth $6,510,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in Crescent Point Energy by 77.1% during 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 buying an additional 3,323,404 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. raised its holdings in shares of 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 during the last quarter. TD Asset Management Inc. lifted its position in Crescent Point Energy by 10.0% in the 1st quarter. TD Asset Management Inc. now owns 4,266,373 shares of the oil and gas producer’s stock valued at $13,828,000 after acquiring an additional 388,312 shares in the last quarter. Waratah Capital Advisors Ltd. lifted its position 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 valued at $13,229,000 after acquiring an additional 1,258,436 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Crescent Point Energy by 0.6% during the 2nd quarter. CIBC Asset Management Inc now owns 3,489,689 shares of the oil and gas producer’s stock valued at $11,538,000 after purchasing an additional 19,786 shares during the last quarter. Institutional investors own 31.72% of the company’s stock.

A number of analysts have commented on CPG shares. Zacks Investment Research lowered Crescent Point Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Raymond James set a $7.00 target price on Crescent Point Energy and gave the company a “hold” rating in a report on Wednesday, September 4th. BMO Capital Markets set a $6.00 target price on Crescent Point Energy and gave the company a “hold” rating in a research report on Wednesday, September 4th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $6.00 price target on shares of Crescent Point Energy in a report on Thursday, July 18th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Crescent Point Energy has a consensus rating of “Buy” and an average target price of $5.41.

Crescent Point Energy stock opened at $4.02 on Wednesday. Crescent Point Energy Corp has a fifty-two week low of $2.43 and a fifty-two week high of $6.68. The stock has a market cap of $2.14 billion, a PE ratio of 7.67 and a beta of 1.06. The firm’s 50-day simple moving average is $3.18 and its 200 day simple moving average is $3.36. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.59 and a current ratio of 0.59.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.04. Crescent Point Energy had a negative net margin of 58.40% and a positive return on equity of 5.15%. The firm had revenue of $706.64 million during the quarter, compared to analyst estimates of $724.48 million. During the same quarter last year, the business posted $0.19 EPS. As a group, analysts predict that Crescent Point Energy Corp will post 0.47 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Sunday, September 15th will be given a dividend of $0.008 per share. This represents a $0.03 dividend on an annualized basis and a dividend yield of 0.80%. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, September 12th. Crescent Point Energy’s dividend payout ratio (DPR) is presently 9.09%.

Crescent Point Energy Company 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.

See Also: Understanding dividend yield and dividend payout ratio

Institutional Ownership by Quarter for Crescent Point Energy (NYSE:CPG)

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