MML Investors Services LLC Acquires 43,464 Shares of Crescent Point Energy Corp. (NYSE:CPG)

MML Investors Services LLC raised its holdings in Crescent Point Energy Corp. (NYSE:CPG – Get Rating) (TSE:CPG) by 226.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,649 shares of the oil and gas producer’s stock after buying an additional 43,464 shares during the period. MML Investors Services LLC’s holdings in Crescent Point Energy were worth $386,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Bank of Nova Scotia lifted its stake in shares of Crescent Point Energy by 0.3% in the second quarter. Bank of Nova Scotia now owns 689,593 shares of the oil and gas producer’s stock valued at $4,902,000 after buying an additional 1,965 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Crescent Point Energy by 15.9% in the first quarter. First Trust Advisors LP now owns 15,100 shares of the oil and gas producer’s stock valued at $109,000 after buying an additional 2,073 shares in the last quarter. Credit Suisse AG lifted its stake in shares of Crescent Point Energy by 0.4% in the third quarter. Credit Suisse AG now owns 630,276 shares of the oil and gas producer’s stock valued at $3,883,000 after buying an additional 2,388 shares in the last quarter. Sigma Planning Corp raised its holdings in shares of Crescent Point Energy by 3.3% in the third quarter. Sigma Planning Corp now owns 75,900 shares of the oil and gas producer’s stock valued at $468,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Private Advisor Group LLC raised its holdings in shares of Crescent Point Energy by 10.1% in the third quarter. Private Advisor Group LLC now owns 30,657 shares of the oil and gas producer’s stock valued at $189,000 after purchasing an additional 2,804 shares during the last quarter. 32.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CPG has been the subject of several analyst reports. StockNews.com downgraded shares of Crescent Point Energy from a “buy” rating to a “hold” rating in a report on Friday, March 3rd. Stifel Nicolaus lowered their target price on shares of Crescent Point Energy from C$17.00 to C$16.00 in a report on Monday, December 12th. National Bank Financial lowered their target price on shares of Crescent Point Energy from C$17.00 to C$15.00 in a report on Wednesday, January 11th. Scotiabank lowered their target price on shares of Crescent Point Energy from C$15.00 to C$13.00 in a report on Tuesday, January 17th. Finally, CIBC decreased their price objective on shares of Crescent Point Energy from C$16.00 to C$15.00 in a report on Tuesday, January 17th.

Crescent Point Energy Stock Performance

NYSE CPG opened at $7.01 on Thursday. Crescent Point Energy Corp. has a 52-week low of $5.51 and a 52-week high of $10.96. The company has a 50-day simple moving average of $7.09 and a 200 day simple moving average of $7.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $3.85 billion, a PE ratio of 3.47 and a beta of 2.22.

Crescent Point Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Wednesday, March 15th will be paid a $0.075 dividend. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 4.28%. Crescent Point Energy’s dividend payout ratio (DPR) is presently 11.88%.

Crescent Point Energy Profile

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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.