Cerity Partners LLC Acquires New Stake in Crescent Point Energy Corp. (NYSE:CPG)

Cerity Partners LLC purchased a new position in Crescent Point Energy Corp. (NYSE:CPGGet Rating) (TSE:CPG) in the second quarter, HoldingsChannel.com reports. The firm purchased 24,452 shares of the oil and gas producer’s stock, valued at approximately $175,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blueshift Asset Management LLC purchased a new stake in Crescent Point Energy in the first quarter worth about $206,000. Aigen Investment Management LP increased its position in Crescent Point Energy by 720.7% in the second quarter. Aigen Investment Management LP now owns 154,539 shares of the oil and gas producer’s stock worth $1,099,000 after buying an additional 135,709 shares in the last quarter. Waratah Capital Advisors Ltd. purchased a new stake in Crescent Point Energy in the first quarter worth about $3,510,000. DGS Capital Management LLC increased its position in Crescent Point Energy by 33.0% in the second quarter. DGS Capital Management LLC now owns 64,194 shares of the oil and gas producer’s stock worth $457,000 after buying an additional 15,943 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new stake in Crescent Point Energy in the first quarter worth about $187,000. Hedge funds and other institutional investors own 35.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CPG. National Bank Financial dropped their price objective on Crescent Point Energy from C$20.00 to C$18.00 in a research note on Friday, September 30th. StockNews.com began coverage on Crescent Point Energy in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $14.60.

Crescent Point Energy Stock Performance

NYSE CPG opened at $8.05 on Wednesday. The business has a 50-day moving average price of $7.35 and a 200-day moving average price of $7.58. Crescent Point Energy Corp. has a twelve month low of $4.06 and a twelve month high of $10.96. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 2.83 and a beta of 2.25. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.13.

Crescent Point Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Thursday, December 15th will be paid a dividend of $0.059 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Wednesday, December 14th. Crescent Point Energy’s payout ratio is presently 8.45%.

Crescent Point Energy Profile

(Get Rating)

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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