Crescent Point Energy Corp (NYSE:CPG) Shares Bought by Alberta Investment Management Corp

Alberta Investment Management Corp increased its holdings in shares of Crescent Point Energy Corp (NYSE:CPG) (TSE:CPG) by 18.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,908,500 shares of the oil and gas producer’s stock after acquiring an additional 445,700 shares during the period. Alberta Investment Management Corp owned approximately 0.55% of Crescent Point Energy worth $2,227,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Swiss National Bank grew its position in shares of Crescent Point Energy by 1.0% during the 1st quarter. Swiss National Bank now owns 1,061,100 shares of the oil and gas producer’s stock valued at $807,000 after acquiring an additional 10,200 shares during the period. Russell Investments Group Ltd. grew its position in shares of Crescent Point Energy by 47.6% during the 1st quarter. Russell Investments Group Ltd. now owns 3,586,699 shares of the oil and gas producer’s stock valued at $2,744,000 after acquiring an additional 1,156,318 shares during the period. BlackRock Inc. grew its position in shares of Crescent Point Energy by 13.7% during the 1st quarter. BlackRock Inc. now owns 184,297 shares of the oil and gas producer’s stock valued at $142,000 after acquiring an additional 22,230 shares during the period. UBS Group AG grew its position in shares of Crescent Point Energy by 475.4% during the 1st quarter. UBS Group AG now owns 96,675 shares of the oil and gas producer’s stock valued at $74,000 after acquiring an additional 79,874 shares during the period. Finally, CIBC Asset Management Inc grew its position in shares of Crescent Point Energy by 0.9% during the 1st quarter. CIBC Asset Management Inc now owns 3,533,307 shares of the oil and gas producer’s stock valued at $2,727,000 after acquiring an additional 30,005 shares during the period. Hedge funds and other institutional investors own 36.77% of the company’s stock.

A number of research firms have recently commented on CPG. Zacks Investment Research cut Crescent Point Energy from a “buy” rating to a “hold” rating in a research report on Thursday. Raymond James lowered shares of Crescent Point Energy to a “sell” rating and set a $1.25 price target on the stock. in a research note on Thursday, March 12th. CIBC raised their price target on shares of Crescent Point Energy from $2.25 to $2.50 and gave the company a “neutral” rating in a research note on Thursday. Scotiabank raised their price target on shares of Crescent Point Energy from $2.25 to $2.50 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Tudor Pickering lowered shares of Crescent Point Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, March 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $3.89.

CPG opened at $1.41 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 1.16. The company’s 50 day simple moving average is $1.13 and its two-hundred day simple moving average is $2.74. Crescent Point Energy Corp has a 1-year low of $0.51 and a 1-year high of $4.84. The firm has a market capitalization of $772.92 million, a price-to-earnings ratio of 3.74 and a beta of 2.70.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last released its earnings results on Thursday, March 5th. The oil and gas producer reported $0.07 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.07. The business had revenue of $552.56 million for the quarter, compared to analyst estimates of $579.04 million. Crescent Point Energy had a negative net margin of 108.19% and a positive return on equity of 5.14%. On average, equities analysts anticipate that Crescent Point Energy Corp will post -2.35 earnings per share for the current fiscal year.

About Crescent Point Energy

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.

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Institutional Ownership by Quarter for Crescent Point Energy (NYSE:CPG)

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