Connor Clark & Lunn Investment Management Ltd. cut its holdings in Crescent Point Energy Corp. (NYSE:CPG – Get Rating) (TSE:CPG) by 29.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,232,339 shares of the oil and gas producer's stock after selling 7,708,791 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 3.18% of Crescent Point Energy worth $132,094,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in CPG. Millennium Management LLC lifted its holdings in Crescent Point Energy by 184.9% in the 4th quarter. Millennium Management LLC now owns 9,097,452 shares of the oil and gas producer's stock worth $48,580,000 after purchasing an additional 5,904,437 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Crescent Point Energy in the first quarter valued at $35,306,000. Schroder Investment Management Group grew its stake in shares of 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. TD Asset Management Inc. increased its holdings in shares of Crescent Point Energy by 46.7% in the 4th quarter. TD Asset Management Inc. now owns 5,039,819 shares of the oil and gas producer's stock worth $26,931,000 after buying an additional 1,604,713 shares during the last quarter. Finally, Jupiter Asset Management Ltd. increased its holdings in shares of Crescent Point Energy by 404.0% in the 1st quarter. Jupiter Asset Management Ltd. now owns 1,728,631 shares of the oil and gas producer's stock worth $12,539,000 after buying an additional 1,385,658 shares during the last quarter. 42.19% of the stock is owned by hedge funds and other institutional investors.
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Analyst Ratings Changes
CPG has been the topic of a number of research reports. Scotiabank upgraded shares of Crescent Point Energy from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, June 8th. National Bank Financial cut their price target on shares of Crescent Point Energy from C$21.00 to C$20.00 in a report on Thursday, July 28th. Stifel Nicolaus upped their price target on shares of Crescent Point Energy from C$15.50 to C$17.00 in a report on Thursday, June 30th. Finally, CIBC upped their price target on shares of Crescent Point Energy from C$13.50 to C$16.00 in a report on Wednesday, June 15th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Crescent Point Energy presently has a consensus rating of "Buy" and a consensus target price of $15.00.
Crescent Point Energy Trading Down 0.6 %
CPG stock traded down $0.05 during mid-day trading on Friday, reaching $7.91. The company had a trading volume of 360,577 shares, compared to its average volume of 12,302,865. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $4.46 billion, a PE ratio of 3.42 and a beta of 2.26. The firm has a 50 day moving average of $7.33 and a 200 day moving average of $7.47. Crescent Point Energy Corp. has a 12 month low of $3.33 and a 12 month high of $10.96.
Crescent Point Energy (NYSE:CPG – Get Rating) (TSE:CPG) last issued its earnings results on Wednesday, July 27th. The oil and gas producer reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.06). Crescent Point Energy had a return on equity of 13.55% and a net margin of 42.33%. The company had revenue of $1.03 billion during the quarter. On average, equities analysts predict that Crescent Point Energy Corp. will post 2.73 earnings per share for the current fiscal year.
Crescent Point Energy Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders 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 3.14%. The ex-dividend date of this dividend is Wednesday, September 14th. This is a boost from Crescent Point Energy's previous quarterly dividend of $0.02. Crescent Point Energy's dividend payout ratio is presently 9.09%.
Crescent Point Energy Company 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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