Crescent Point Energy Corp. (NYSE:CPG – Get Rating) (TSE:CPG)'s stock price rose 5.1% during mid-day trading on Tuesday . The stock traded as high as $8.01 and last traded at $7.98. Approximately 94,901 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 12,522,604 shares. The stock had previously closed at $7.59.
Wall Street Analyst Weigh In
Several research firms have recently commented on CPG. Scotiabank raised shares of Crescent Point Energy from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, June 8th. National Bank Financial lowered their price target on shares of Crescent Point Energy from C$21.00 to C$20.00 in a research note on Thursday, July 28th. Stifel Nicolaus boosted their price objective on shares of Crescent Point Energy from C$15.50 to C$17.00 in a research note on Thursday, June 30th. Finally, CIBC boosted their price objective 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 MarketBeat.com, Crescent Point Energy presently has an average rating of "Buy" and a consensus target price of $15.00.
Get Crescent Point Energy alerts:Crescent Point Energy Price Performance
The business's 50-day moving average price is $7.39 and its 200 day moving average price is $7.45. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $4.47 billion, a P/E ratio of 3.29 and a beta of 2.26.
Crescent Point Energy (NYSE:CPG – Get Rating) (TSE:CPG) last released its quarterly earnings data 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 net margin of 42.33% and a return on equity of 13.55%. The firm had revenue of $1.03 billion during the quarter. Analysts anticipate that Crescent Point Energy Corp. will post 2.71 EPS for the current fiscal year.Crescent Point Energy Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be given a dividend of $0.062 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This is a positive change from Crescent Point Energy's previous quarterly dividend of $0.02. This represents a $0.25 annualized dividend and a yield of 3.13%. Crescent Point Energy's payout ratio is presently 9.09%.
Institutional Investors Weigh In On Crescent Point Energy
Several hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its stake in shares of Crescent Point Energy by 243.8% during the second quarter. Goldman Sachs Group Inc. now owns 2,837,663 shares of the oil and gas producer's stock worth $20,204,000 after acquiring an additional 2,012,265 shares in the last quarter. Centiva Capital LP purchased a new position in Crescent Point Energy during the 2nd quarter valued at $121,000. White Pine Capital LLC purchased a new position in Crescent Point Energy during the 2nd quarter valued at $85,000. Creative Planning purchased a new position in Crescent Point Energy during the 2nd quarter valued at $81,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Crescent Point Energy during the 2nd quarter valued at $178,000. 42.19% of the stock is currently owned by institutional investors.
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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