Crescent Point Energy (CPG) Upgraded to “Hold” at ValuEngine

ValuEngine upgraded shares of Crescent Point Energy (NYSE:CPG) (TSE:CPG) from a sell rating to a hold rating in a report published on Friday.

A number of other research analysts also recently weighed in on CPG. Royal Bank of Canada reissued a hold rating and issued a $14.00 price target on shares of Crescent Point Energy in a research note on Monday, September 25th. Zacks Investment Research raised Crescent Point Energy from a hold rating to a strong-buy rating and set a $9.50 price target on the stock in a research note on Tuesday, September 26th. Scotiabank reissued a buy rating and issued a $17.00 price target on shares of Crescent Point Energy in a research note on Tuesday, October 10th. Desjardins downgraded Crescent Point Energy from a buy rating to a hold rating in a research note on Wednesday, October 11th. Finally, UBS downgraded Crescent Point Energy from an outperform rating to a market perform rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $13.33.

Crescent Point Energy (NYSE:CPG) traded down $0.22 during mid-day trading on Friday, hitting $6.43. The stock had a trading volume of 1,526,038 shares, compared to its average volume of 1,337,962. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $3,629.53, a P/E ratio of 20.78 and a beta of 1.52. Crescent Point Energy has a one year low of $6.42 and a one year high of $14.29.

A number of institutional investors have recently modified their holdings of CPG. Canada Pension Plan Investment Board raised its stake in Crescent Point Energy by 3,443.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 194,900 shares of the oil and gas producer’s stock worth $1,489,000 after buying an additional 189,400 shares during the period. DekaBank Deutsche Girozentrale raised its stake in Crescent Point Energy by 19.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 22,244 shares of the oil and gas producer’s stock worth $171,000 after buying an additional 3,600 shares during the period. Legal & General Group Plc raised its stake in Crescent Point Energy by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 2,538,602 shares of the oil and gas producer’s stock worth $18,756,000 after buying an additional 20,507 shares during the period. Addenda Capital Inc. raised its stake in Crescent Point Energy by 4.3% during the 2nd quarter. Addenda Capital Inc. now owns 628,507 shares of the oil and gas producer’s stock worth $4,815,000 after buying an additional 25,686 shares during the period. Finally, Andra AP fonden acquired a new stake in Crescent Point Energy during the 2nd quarter worth $1,692,000. 39.72% of the stock is currently owned by institutional investors and hedge funds.

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About Crescent Point Energy

Crescent Point Energy Corp. acquires, explores, develops, and produces light and medium oil and natural gas properties 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, Colorado, and Utah.

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