Crescent Point Energy Corp (NYSE:CPG) (TSE:CPG) shares traded up 5.6% on Thursday . The company traded as high as $3.98 and last traded at $3.93. 6,336,652 shares changed hands during trading, an increase of 113% from the average session volume of 2,978,014 shares. The stock had previously closed at $3.72.
A number of research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Crescent Point Energy from a “hold” rating to a “buy” rating and set a $4.25 target price on the stock in a research note on Wednesday, April 10th. Canaccord Genuity upgraded shares of Crescent Point Energy to a “buy” rating in a research note on Thursday. Finally, Raymond James restated a “hold” rating on shares of Crescent Point Energy in a research note on Wednesday, January 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $4.35.
The company has a market capitalization of $1.98 billion, a P/E ratio of 11.91 and a beta of 1.12. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.
Crescent Point Energy (NYSE:CPG) (TSE:CPG) last announced its quarterly earnings results on Thursday, March 7th. The oil and gas producer reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.11). The company had revenue of $599.03 million during the quarter, compared to analysts’ expectations of $741.38 million. Crescent Point Energy had a positive return on equity of 2.79% and a negative net margin of 68.90%. During the same quarter in the previous year, the firm earned ($0.06) EPS. Analysts expect that Crescent Point Energy Corp will post 0.15 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in CPG. Bank of New York Mellon Corp lifted its stake in Crescent Point Energy by 25.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 719,023 shares of the oil and gas producer’s stock worth $4,565,000 after purchasing an additional 148,097 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Crescent Point Energy by 283.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 942,004 shares of the oil and gas producer’s stock valued at $5,981,000 after buying an additional 696,256 shares in the last quarter. Man Group plc raised its position in shares of Crescent Point Energy by 129.1% during the 3rd quarter. Man Group plc now owns 25,659 shares of the oil and gas producer’s stock valued at $163,000 after buying an additional 14,459 shares in the last quarter. Nordea Investment Management AB purchased a new stake in shares of Crescent Point Energy during the 3rd quarter valued at about $177,000. Finally, Morgan Stanley raised its position in shares of Crescent Point Energy by 93.0% during the 3rd quarter. Morgan Stanley now owns 4,618,575 shares of the oil and gas producer’s stock valued at $29,328,000 after buying an additional 2,225,693 shares in the last quarter. Institutional investors and hedge funds own 37.09% of the company’s stock.
Crescent Point Energy Company Profile (NYSE:CPG)
Crescent Point Energy Corp. explores, develops, and produces light and medium crude oil and natural gas reserves in Western Canada and the United States. The company'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, Montana, and Utah.
Further Reading: Systematic Risk and Investors
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