Trek Financial LLC lifted its position in shares of Crescent Point Energy Corp. (NYSE:CPG – Free Report) (TSE:CPG) by 20.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,191,177 shares of the oil and gas producer’s stock after purchasing an additional 199,583 shares during the quarter. Trek Financial LLC owned approximately 0.22% of Crescent Point Energy worth $8,410,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. acquired a new stake in shares of Crescent Point Energy during the 1st quarter worth approximately $50,000. Lazard Asset Management LLC acquired a new stake in Crescent Point Energy in the 1st quarter valued at $62,000. Signaturefd LLC boosted its stake in Crescent Point Energy by 19.8% in the 1st quarter. Signaturefd LLC now owns 11,216 shares of the oil and gas producer’s stock valued at $79,000 after buying an additional 1,851 shares in the last quarter. Creative Planning acquired a new stake in Crescent Point Energy in the 2nd quarter valued at $81,000. Finally, Kovack Advisors Inc. acquired a new stake in Crescent Point Energy in the 1st quarter valued at $81,000. Institutional investors and hedge funds own 35.46% of the company’s stock.
Analyst Ratings Changes
Several analysts recently commented on the company. Canaccord Genuity Group assumed coverage on Crescent Point Energy in a research note on Friday, July 21st. They issued a “buy” rating on the stock. StockNews.com assumed coverage on Crescent Point Energy in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, CIBC decreased their price target on Crescent Point Energy from $15.00 to $14.75 and set an “outperformer” rating on the stock in a research note on Monday, August 28th.
Crescent Point Energy Price Performance
Crescent Point Energy stock opened at $8.35 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $4.47 billion, a P/E ratio of 15.17 and a beta of 2.27. The business’s fifty day moving average is $7.87 and its two-hundred day moving average is $7.23. Crescent Point Energy Corp. has a 52 week low of $5.51 and a 52 week high of $8.61.
Crescent Point Energy (NYSE:CPG – Get Free Report) (TSE:CPG) last posted its quarterly earnings data on Wednesday, July 26th. The oil and gas producer reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The business had revenue of $725.91 million during the quarter, compared to analyst estimates of $736.52 million. Crescent Point Energy had a return on equity of 12.85% and a net margin of 10.69%. Equities research analysts forecast that Crescent Point Energy Corp. will post 1.28 earnings per share for the current fiscal year.
Crescent Point Energy Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.59%. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.07. Crescent Point Energy’s payout ratio is presently 52.73%.
About Crescent Point Energy
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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