Barometer Capital Management Inc. grew its stake in Crescent Point Energy Corp. (NYSE:CPG – Get Rating) (TSE:CPG) by 24.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 428,000 shares of the oil and gas producer's stock after buying an additional 83,500 shares during the period. Barometer Capital Management Inc. owned approximately 0.07% of Crescent Point Energy worth $3,878,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Sigma Planning Corp bought a new stake in shares of Crescent Point Energy in the 1st quarter worth approximately $533,000. Blueshift Asset Management LLC bought a new stake in shares of Crescent Point Energy in the 1st quarter worth approximately $206,000. Bailard Inc. bought a new stake in shares of Crescent Point Energy in the 1st quarter worth approximately $307,000. EdgePoint Investment Group Inc. raised its holdings in Crescent Point Energy by 82.2% during the 4th quarter. EdgePoint Investment Group Inc. now owns 810,057 shares of the oil and gas producer's stock valued at $4,310,000 after buying an additional 365,520 shares during the last quarter. Finally, Waratah Capital Advisors Ltd. bought a new stake in Crescent Point Energy during the 1st quarter valued at $3,510,000. Hedge funds and other institutional investors own 35.40% of the company's stock.
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Analysts Set New Price Targets
A number of equities research analysts recently commented on the stock. 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. National Bank Financial lowered their price target on shares of Crescent Point Energy from C$21.00 to C$20.00 in a report on Thursday, July 28th. Scotiabank upgraded shares of Crescent Point Energy from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, June 8th. 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 equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Crescent Point Energy presently has a consensus rating of "Buy" and an average target price of $15.00.
Crescent Point Energy Stock Up 0.6 %
Shares of Crescent Point Energy stock opened at $6.92 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.15. The company's fifty day simple moving average is $7.31 and its two-hundred day simple moving average is $7.53. The company has a market cap of $3.88 billion, a P/E ratio of 3.00 and a beta of 2.23. 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 quarterly earnings data on Wednesday, July 27th. The oil and gas producer reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.06). The company had revenue of $1.03 billion for the quarter. Crescent Point Energy had a net margin of 42.33% and a return on equity of 13.55%. Research analysts anticipate that Crescent Point Energy Corp. will post 2.72 EPS for the current year.
Crescent Point Energy Increases Dividend
The firm also recently announced 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. The ex-dividend date is Wednesday, September 14th. This is an increase from Crescent Point Energy's previous quarterly dividend of $0.02. This represents a $0.25 dividend on an annualized basis and a dividend yield of 3.58%. Crescent Point Energy's dividend payout ratio is currently 9.09%.
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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