Shares of Crescent Point Energy Co. (NYSE:CPG) (TSE:CPG) have received an average recommendation of “Hold” from the nine analysts that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $15.75.
CPG has been the subject of a number of recent analyst reports. AltaCorp Capital reaffirmed a “buy” rating and set a $16.25 price target on shares of Crescent Point Energy in a research report on Monday, January 15th. Zacks Investment Research raised Crescent Point Energy from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research report on Friday, December 29th. ValuEngine raised Crescent Point Energy from a “sell” rating to a “hold” rating in a research report on Friday, December 15th. Raymond James Financial lowered Crescent Point Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 14th. Finally, UBS Group lowered Crescent Point Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 14th.
Several hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. grew its holdings in shares of Crescent Point Energy by 5.7% during the 4th quarter. Franklin Resources Inc. now owns 28,067,632 shares of the oil and gas producer’s stock worth $213,896,000 after acquiring an additional 1,523,931 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Crescent Point Energy by 8.3% during the 4th quarter. Mackenzie Financial Corp now owns 16,418,931 shares of the oil and gas producer’s stock worth $125,112,000 after acquiring an additional 1,264,220 shares during the period. Vanguard Group Inc. grew its holdings in shares of Crescent Point Energy by 4.8% during the 2nd quarter. Vanguard Group Inc. now owns 12,931,504 shares of the oil and gas producer’s stock worth $98,925,000 after acquiring an additional 592,496 shares during the period. TD Asset Management Inc. grew its holdings in shares of Crescent Point Energy by 6.2% during the 3rd quarter. TD Asset Management Inc. now owns 10,360,008 shares of the oil and gas producer’s stock worth $83,003,000 after acquiring an additional 602,814 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in shares of Crescent Point Energy by 2.7% during the 4th quarter. CIBC Asset Management Inc now owns 9,553,373 shares of the oil and gas producer’s stock worth $73,114,000 after acquiring an additional 247,397 shares during the period. Hedge funds and other institutional investors own 40.28% of the company’s stock.
Crescent Point Energy (NYSE:CPG) traded up $0.10 on Tuesday, reaching $7.32. The company’s stock had a trading volume of 112,097 shares, compared to its average volume of 1,484,900. The company has a market cap of $3,913.34, a price-to-earnings ratio of -8.80, a price-to-earnings-growth ratio of 6.83 and a beta of 1.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.72 and a quick ratio of 0.72. Crescent Point Energy has a fifty-two week low of $6.42 and a fifty-two week high of $11.89.
The company also recently announced a monthly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be issued a dividend of $0.024 per share. The ex-dividend date is Tuesday, February 27th. This represents a $0.29 dividend on an annualized basis and a dividend yield of 3.93%. Crescent Point Energy’s dividend payout ratio (DPR) is -35.37%.
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About Crescent Point Energy
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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