A number of other large investors also recently added to or reduced their stakes in CPG. Vanguard Group Inc. increased its position in shares of Crescent Point Energy by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 17,220,536 shares of the oil and gas producer’s stock valued at $124,849,000 after purchasing an additional 413,562 shares during the last quarter. Bank of Montreal Can increased its position in Crescent Point Energy by 11.4% during the third quarter. Bank of Montreal Can now owns 12,754,302 shares of the oil and gas producer’s stock valued at $78,610,000 after acquiring an additional 1,305,895 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Crescent Point Energy by 3.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 10,583,434 shares of the oil and gas producer’s stock valued at $76,723,000 after acquiring an additional 305,215 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Crescent Point Energy by 29.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,097,626 shares of the oil and gas producer’s stock worth $43,722,000 after acquiring an additional 1,611,822 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Crescent Point Energy by 294.0% during the 1st quarter. Renaissance Technologies LLC now owns 6,350,887 shares of the oil and gas producer’s stock worth $46,064,000 after purchasing an additional 4,739,152 shares during the period. 32.71% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on CPG shares. Scotiabank decreased their price target on Crescent Point Energy from C$15.00 to C$13.00 in a research note on Tuesday, January 17th. CIBC dropped their target price on shares of Crescent Point Energy from C$16.00 to C$15.00 in a report on Tuesday, January 17th. National Bank Financial reduced their price target on shares of Crescent Point Energy from C$17.00 to C$15.00 in a report on Wednesday, January 11th. Finally, Stifel Nicolaus cut their price objective on shares of Crescent Point Energy from C$17.00 to C$16.00 in a report on Monday, December 12th.
Crescent Point Energy Price Performance
Shares of CPG opened at $7.43 on Tuesday. Crescent Point Energy Corp. has a twelve month low of $5.51 and a twelve month high of $10.96. The company has a 50 day moving average of $7.01 and a two-hundred day moving average of $7.28. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.13. The company has a market cap of $4.08 billion, a price-to-earnings ratio of 2.62 and a beta of 2.21.
Crescent Point Energy Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Wednesday, March 15th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 4.04%. The ex-dividend date is Tuesday, March 14th. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.06. Crescent Point Energy’s payout ratio is currently 8.45%.
Crescent Point Energy Profile
Crescent Point Energy Corp. engages in the exploration, development and production of oil and gas properties. Its focus areas include: Viewfield Bakken, Flat Lake Torquay, and Shaunavon. The company was founded on April 20, 1994 and is headquartered in Calgary, Canada.
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