Crescent Point Energy Corp. (NYSE:CPG – Get Rating) (TSE:CPG) has been given a consensus recommendation of “Buy” by the eight brokerages that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $15.38.
CPG has been the topic of several analyst reports. National Bank Financial lowered their target price on shares of Crescent Point Energy from C$20.00 to C$18.00 in a report on Friday, September 30th. StockNews.com started coverage on shares of Crescent Point Energy in a report on Wednesday, October 12th. They set a “buy” rating on the stock.
Crescent Point Energy Stock Down 5.2 %
CPG opened at $7.22 on Tuesday. The firm’s 50-day simple moving average is $7.54 and its 200-day simple moving average is $7.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.61 and a current ratio of 0.61. Crescent Point Energy has a twelve month low of $4.11 and a twelve month high of $10.96. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 2.54 and a beta of 2.24.
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 dividend of $0.059 per share. This represents a $0.24 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Wednesday, December 14th. Crescent Point Energy’s dividend payout ratio is 8.45%.
Hedge Funds Weigh In On Crescent Point Energy
A number of hedge funds and other institutional investors have recently bought and sold shares of CPG. Wipfli Financial Advisors LLC acquired a new position in shares of Crescent Point Energy in the 3rd quarter valued at $31,000. Ronald Blue Trust Inc. lifted its stake in Crescent Point Energy by 1,069.0% in the third quarter. Ronald Blue Trust Inc. now owns 6,710 shares of the oil and gas producer’s stock valued at $48,000 after buying an additional 6,136 shares during the period. EverSource Wealth Advisors LLC bought a new position in Crescent Point Energy during the second quarter worth about $50,000. PNC Financial Services Group Inc. bought a new position in Crescent Point Energy during the first quarter worth about $50,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Crescent Point Energy during the 1st quarter worth about $62,000. 35.40% of the stock is owned by institutional investors.
About Crescent Point Energy
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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