Swiss National Bank Trims Stock Position in Crescent Point Energy Corp. (NYSE:CPG)

Swiss National Bank reduced its stake in shares of Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) by 11.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,211,200 shares of the oil and gas producer’s stock after selling 157,000 shares during the quarter. Swiss National Bank owned approximately 0.22% of Crescent Point Energy worth $8,539,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CPG. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Crescent Point Energy by 13.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 111,300 shares of the oil and gas producer’s stock worth $785,000 after buying an additional 13,500 shares during the period. Principal Financial Group Inc. grew its position in shares of Crescent Point Energy by 38.7% in the 1st quarter. Principal Financial Group Inc. now owns 3,868,050 shares of the oil and gas producer’s stock worth $27,267,000 after buying an additional 1,079,000 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Crescent Point Energy by 75.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 32,144 shares of the oil and gas producer’s stock worth $227,000 after buying an additional 13,864 shares during the period. GMT Capital Corp grew its position in shares of Crescent Point Energy by 158.2% in the 1st quarter. GMT Capital Corp now owns 4,772,700 shares of the oil and gas producer’s stock worth $33,644,000 after buying an additional 2,924,100 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Crescent Point Energy by 62.5% in the 1st quarter. Bank of New York Mellon Corp now owns 39,821 shares of the oil and gas producer’s stock worth $281,000 after buying an additional 15,320 shares during the period. 36.00% of the stock is owned by hedge funds and other institutional investors.

Crescent Point Energy Stock Performance

Shares of CPG stock opened at $7.86 on Friday. Crescent Point Energy Corp. has a one year low of $5.51 and a one year high of $8.61. The company’s 50-day moving average is $7.53 and its 200 day moving average is $7.15. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 14.29 and a beta of 2.25. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.71 and a current ratio of 0.71.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last announced its quarterly earnings data on Wednesday, July 26th. The oil and gas producer reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). Crescent Point Energy had a net margin of 10.69% and a return on equity of 12.85%. The firm had revenue of $725.91 million for the quarter, compared to analysts’ expectations of $736.52 million. Sell-side analysts expect that Crescent Point Energy Corp. will post 1.34 EPS for the current fiscal year.

Crescent Point Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a dividend of $0.075 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.30 annualized dividend and a yield of 3.82%. This is a boost from Crescent Point Energy’s previous quarterly dividend of $0.07. Crescent Point Energy’s dividend payout ratio is currently 52.73%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CPG shares. Canaccord Genuity Group started coverage on shares of Crescent Point Energy in a research report on Friday, July 21st. They issued a “buy” rating on the stock. StockNews.com assumed coverage on shares of Crescent Point Energy in a research report on Thursday, August 17th. They set a “hold” rating on the stock.

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.