Shares of Crescent Point Energy Corp. (NYSE:CPG – Get Rating) (TSE:CPG) have been given a consensus rating of “Buy” by the nine brokerages that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $15.88.
A number of analysts recently weighed in on the stock. National Bank Financial reduced their target price on shares of Crescent Point Energy from C$21.00 to C$20.00 in a report on Thursday, July 28th. Stifel Nicolaus raised their target price on shares of Crescent Point Energy from C$15.50 to C$17.00 in a report on Thursday, June 30th. Scotiabank upgraded shares of Crescent Point Energy from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, June 8th. Finally, CIBC raised their target price on shares of Crescent Point Energy from C$13.50 to C$16.00 in a report on Wednesday, June 15th.
Institutional Investors Weigh In On Crescent Point Energy
Hedge funds have recently made changes to their positions in the company. First Trust Advisors LP purchased a new stake in Crescent Point Energy in the 4th quarter worth approximately $70,000. Dimensional Fund Advisors LP lifted its position in Crescent Point Energy by 44.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,583,842 shares of the oil and gas producer’s stock worth $13,798,000 after buying an additional 791,801 shares in the last quarter. HighTower Advisors LLC purchased a new stake in Crescent Point Energy in the 4th quarter worth approximately $1,219,000. Schroder Investment Management Group lifted its position in Crescent Point Energy by 245.8% in the 4th quarter. Schroder Investment Management Group now owns 2,907,914 shares of the oil and gas producer’s stock worth $19,628,000 after buying an additional 2,067,041 shares in the last quarter. Finally, ClariVest Asset Management LLC purchased a new stake in Crescent Point Energy in the 4th quarter worth approximately $1,884,000. Hedge funds and other institutional investors own 35.40% of the company’s stock.
Crescent Point Energy Trading Down 1.6 %
Crescent Point Energy (NYSE:CPG – Get Rating) (TSE:CPG) last posted its quarterly earnings data on Wednesday, July 27th. The oil and gas producer reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.06). The company had revenue of $1.03 billion during the quarter. Crescent Point Energy had a net margin of 42.33% and a return on equity of 13.55%. As a group, equities research analysts expect that Crescent Point Energy will post 2.69 EPS for the current fiscal year.
Crescent Point Energy Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be given a $0.062 dividend. This represents a $0.25 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Wednesday, September 14th. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.02. Crescent Point Energy’s dividend payout ratio is 10.39%.
Crescent Point Energy Company Profile
Crescent Point Energy Corp. explores, develops, and produces light and medium crude oil, natural gas liquids, and natural gas reserves in Western Canada and the United States. It'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 and Montana.
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