Mitsubishi UFJ Trust & Banking Corp Sells 190,600 Shares of Crescent Point Energy Corp. (NYSE:CPG)

Mitsubishi UFJ Trust & Banking Corp cut its holdings in Crescent Point Energy Corp. (NYSE:CPGGet Rating) (TSE:CPG) by 71.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 77,200 shares of the oil and gas producer’s stock after selling 190,600 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Crescent Point Energy were worth $911,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Stratos Wealth Partners LTD. increased its holdings in shares of Crescent Point Energy by 14.0% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 12,200 shares of the oil and gas producer’s stock worth $87,000 after buying an additional 1,500 shares during the last quarter. Bank of Nova Scotia grew its holdings in Crescent Point Energy by 0.3% during the 2nd quarter. Bank of Nova Scotia now owns 689,593 shares of the oil and gas producer’s stock valued at $4,902,000 after purchasing an additional 1,965 shares during the last quarter. First Trust Advisors LP grew its holdings in Crescent Point Energy by 15.9% during the 1st quarter. First Trust Advisors LP now owns 15,100 shares of the oil and gas producer’s stock valued at $109,000 after purchasing an additional 2,073 shares during the last quarter. Signaturefd LLC grew its holdings in Crescent Point Energy by 17.0% during the 1st quarter. Signaturefd LLC now owns 16,221 shares of the oil and gas producer’s stock valued at $118,000 after purchasing an additional 2,357 shares during the last quarter. Finally, EverSource Wealth Advisors LLC bought a new position in Crescent Point Energy during the 2nd quarter valued at about $50,000. 35.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CPG has been the topic of several analyst reports. StockNews.com initiated coverage on shares of Crescent Point Energy in a report on Wednesday, October 12th. They set a “buy” rating on the stock. National Bank Financial cut their price target on shares of Crescent Point Energy from C$20.00 to C$18.00 in a report on Friday, September 30th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $14.60.

Crescent Point Energy Price Performance

Shares of CPG stock opened at $8.02 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.61 and a quick ratio of 0.61. The company has a market capitalization of $4.46 billion, a P/E ratio of 2.82 and a beta of 2.25. The company’s 50-day simple moving average is $7.32 and its two-hundred day simple moving average is $7.58. Crescent Point Energy Corp. has a one year low of $4.06 and a one year high of $10.96.

Crescent Point Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th will be given a $0.059 dividend. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $0.24 annualized dividend and a dividend yield of 2.94%. Crescent Point Energy’s payout ratio is presently 8.45%.

Crescent Point Energy Profile

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

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