Crescent Point Energy Corp. (NYSE:CPG) Stake Raised by Mackenzie Financial Corp

Mackenzie Financial Corp grew its holdings in shares of Crescent Point Energy Corp. (NYSE:CPGGet Rating) (TSE:CPG) by 3.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 263,915 shares of the oil and gas producer’s stock after buying an additional 8,594 shares during the period. Mackenzie Financial Corp’s holdings in Crescent Point Energy were worth $1,876,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC acquired a new position in shares of Crescent Point Energy during the second quarter valued at approximately $50,000. PNC Financial Services Group Inc. acquired a new position in shares of Crescent Point Energy during the first quarter valued at approximately $50,000. Lazard Asset Management LLC acquired a new position in shares of Crescent Point Energy during the first quarter valued at approximately $62,000. Stratos Wealth Partners LTD. increased its stake in shares of Crescent Point Energy by 14.0% during the second quarter. Stratos Wealth Partners LTD. now owns 12,200 shares of the oil and gas producer’s stock valued at $87,000 after acquiring an additional 1,500 shares during the period. Finally, Privium Fund Management UK Ltd acquired a new position in shares of Crescent Point Energy during the second quarter valued at approximately $89,000. Institutional investors own 35.40% of the company’s stock.

Crescent Point Energy Trading Up 3.1 %

Crescent Point Energy stock opened at $8.05 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 2.83 and a beta of 2.25. Crescent Point Energy Corp. has a 1 year low of $4.06 and a 1 year high of $10.96. The firm’s 50 day moving average price is $7.35 and its two-hundred day moving average price is $7.58.

Crescent Point Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders 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 yield of 2.93%. Crescent Point Energy’s dividend payout ratio (DPR) is 8.45%.

Wall Street Analysts Forecast Growth

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

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.

See Also

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

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