Crescent Point Energy (NYSE:CPG) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Crescent Point Energy (NYSE:CPGGet Rating) (TSE:CPG) from a buy rating to a hold rating in a research report released on Thursday, Zacks.com reports.

According to Zacks, “Crescent Point Energy Corp. is engaged in the acquisition, exploration and development of oil and natural gas properties in Western Canada. The Company’s operations consist of light and medium oil and natural gas assets strategically focused in core areas in southern Saskatchewan and central and southern Alberta. Crescent Point Energy Corp., formerly known as Crescent Point Energy Trust, is headquartered in Calgary, Canada. “

A number of other research firms have also weighed in on CPG. StockNews.com began coverage on shares of Crescent Point Energy in a report on Thursday, March 31st. They set a buy rating for the company. Scotiabank raised their price target on shares of Crescent Point Energy from C$11.00 to C$11.50 in a report on Monday, April 18th. National Bank Financial raised their price target on shares of Crescent Point Energy from C$15.50 to C$20.00 in a report on Thursday, April 14th. CIBC raised their price target on shares of Crescent Point Energy from C$13.00 to C$13.50 in a report on Thursday, April 14th. Finally, TD Securities raised shares of Crescent Point Energy to a buy rating in a report on Wednesday, January 5th. 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, the company presently has a consensus rating of Buy and a consensus price target of $11.71.

Shares of CPG stock traded down $0.05 during trading hours on Thursday, reaching $7.30. The company had a trading volume of 239,443 shares, compared to its average volume of 8,351,031. The company has a market capitalization of $4.18 billion, a P/E ratio of 2.25 and a beta of 2.33. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.40 and a current ratio of 0.40. Crescent Point Energy has a twelve month low of $2.75 and a twelve month high of $7.98. The stock’s fifty day simple moving average is $7.25 and its 200 day simple moving average is $6.12.

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

Several hedge funds have recently added to or reduced their stakes in the business. Aigen Investment Management LP bought a new stake in shares of Crescent Point Energy during the 1st quarter worth about $137,000. DGS Capital Management LLC raised its position in shares of Crescent Point Energy by 140.0% during the 1st quarter. DGS Capital Management LLC now owns 48,251 shares of the oil and gas producer’s stock worth $350,000 after buying an additional 28,148 shares in the last quarter. Signaturefd LLC raised its position in shares of Crescent Point Energy by 17.0% during the 1st quarter. Signaturefd LLC now owns 16,221 shares of the oil and gas producer’s stock worth $118,000 after buying an additional 2,357 shares in the last quarter. Bailard Inc. acquired a new position in shares of Crescent Point Energy in the 1st quarter worth approximately $307,000. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of Crescent Point Energy in the 1st quarter worth approximately $3,190,000. Institutional investors own 42.19% of the company’s stock.

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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