Cerity Partners LLC acquired a new stake in shares of Crescent Point Energy Corp. (NYSE:CPG – Get Rating) (TSE:CPG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 24,452 shares of the oil and gas producer’s stock, valued at approximately $175,000.
Several other hedge funds have also added to or reduced their stakes in CPG. EverSource Wealth Advisors LLC bought a new position in Crescent Point Energy in the 2nd quarter worth about $50,000. PNC Financial Services Group Inc. bought a new position in Crescent Point Energy in the 1st quarter worth about $50,000. Lazard Asset Management LLC bought a new position in Crescent Point Energy in the 1st quarter worth about $62,000. Stratos Wealth Partners LTD. boosted its stake in Crescent Point Energy by 14.0% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 12,200 shares of the oil and gas producer’s stock worth $87,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Privium Fund Management UK Ltd bought a new position in Crescent Point Energy in the 2nd quarter worth about $89,000. 35.40% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. National Bank Financial dropped their price target on shares of Crescent Point Energy from C$20.00 to C$18.00 in a research note on Friday, September 30th. StockNews.com initiated coverage on Crescent Point Energy in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $14.60.
Crescent Point Energy Stock Up 3.1 %
Crescent Point Energy Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Thursday, December 15th will be given a dividend of $0.059 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Wednesday, December 14th. Crescent Point Energy’s dividend payout ratio (DPR) is presently 8.45%.
Crescent Point Energy Company Profile
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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