Crescent Point Energy Corp. (NYSE:CPG) Short Interest Update

Crescent Point Energy Corp. (NYSE:CPGGet Rating) (TSE:CPG) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 13,900,000 shares, an increase of 19.3% from the March 31st total of 11,650,000 shares. Currently, 2.4% of the company’s stock are short sold. Based on an average daily volume of 8,520,000 shares, the days-to-cover ratio is presently 1.6 days.

NYSE:CPG opened at $7.23 on Wednesday. The firm has a market cap of $4.14 billion, a P/E ratio of 2.22 and a beta of 2.33. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.31. The stock’s 50 day simple moving average is $7.22 and its 200-day simple moving average is $6.09. Crescent Point Energy has a 12-month low of $2.75 and a 12-month high of $7.98.

Crescent Point Energy (NYSE:CPGGet Rating) (TSE:CPG) last released its earnings results on Thursday, March 3rd. The oil and gas producer reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.06). Crescent Point Energy had a net margin of 72.41% and a return on equity of 10.92%. The company had revenue of $714.33 million during the quarter. During the same quarter in the prior year, the firm posted $0.12 earnings per share. Research analysts forecast that Crescent Point Energy will post 1.56 EPS for the current fiscal year.

Several research analysts have commented on the company. TD Securities raised Crescent Point Energy to a “buy” rating in a research report on Wednesday, January 5th. National Bank Financial lifted their price target on Crescent Point Energy from C$15.50 to C$20.00 in a research report on Thursday, April 14th. StockNews.com assumed coverage on Crescent Point Energy in a research report on Thursday, March 31st. They set a “buy” rating on the stock. CIBC lifted their price target on Crescent Point Energy from C$13.00 to C$13.50 in a research report on Thursday, April 14th. Finally, Scotiabank lifted their price target on Crescent Point Energy from C$11.00 to C$11.50 in a research report on Monday, April 18th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Crescent Point Energy currently has an average rating of “Buy” and an average price target of $11.71.

Hedge funds have recently made changes to their positions in the stock. Lindbrook Capital LLC grew its holdings in Crescent Point Energy by 878.8% during the fourth quarter. Lindbrook Capital LLC now owns 4,659 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 4,183 shares during the period. Woodward Diversified Capital LLC acquired a new position in Crescent Point Energy during the fourth quarter worth $53,000. Intelligence Driven Advisers LLC purchased a new stake in Crescent Point Energy during the fourth quarter worth $65,000. Vista Wealth Management Group LLC purchased a new stake in Crescent Point Energy during the fourth quarter worth $55,000. Finally, Simmons Bank purchased a new stake in Crescent Point Energy during the fourth quarter worth $62,000. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

About Crescent Point Energy (Get Rating)

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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