Crescent Point Energy (CPG) Shares Up 6%

Crescent Point Energy Co. (NYSE:CPG) (TSE:CPG)’s share price shot up 6% during mid-day trading on Tuesday . The stock traded as high as $7.65 and last traded at $7.63. 1,124,214 shares changed hands during trading, a decline of 7% from the average session volume of 1,203,705 shares. The stock had previously closed at $7.20.

Several brokerages recently issued reports on CPG. Royal Bank of Canada reaffirmed a “hold” rating and set a $14.00 price objective on shares of Crescent Point Energy in a report 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 objective for the company in a report on Tuesday, September 26th. ValuEngine raised Crescent Point Energy from a “sell” rating to a “hold” rating in a report on Friday, December 15th. UBS Group cut Crescent Point Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, December 14th. Finally, Desjardins cut Crescent Point Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $13.33.

The stock has a market capitalization of $3,929.72, a price-to-earnings ratio of -9.30 and a beta of 1.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.72 and a quick ratio of 0.72.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CPG. Sciencast Management LP grew its position in shares of Crescent Point Energy by 26.6% in the second quarter. Sciencast Management LP now owns 15,244 shares of the oil and gas producer’s stock valued at $117,000 after purchasing an additional 3,204 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Crescent Point Energy by 19.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 22,244 shares of the oil and gas producer’s stock worth $171,000 after acquiring an additional 3,600 shares in the last quarter. Airain ltd lifted its stake in shares of Crescent Point Energy by 30.5% in the second quarter. Airain ltd now owns 38,512 shares of the oil and gas producer’s stock worth $295,000 after acquiring an additional 9,012 shares in the last quarter. Bank of Nova Scotia Trust Co. lifted its stake in shares of Crescent Point Energy by 10.1% in the second quarter. Bank of Nova Scotia Trust Co. now owns 41,903 shares of the oil and gas producer’s stock worth $321,000 after acquiring an additional 3,852 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Crescent Point Energy by 84.3% during the third quarter. Russell Investments Group Ltd. now owns 49,736 shares of the oil and gas producer’s stock valued at $399,000 after buying an additional 22,754 shares in the last quarter. 39.68% of the stock is owned by institutional investors.

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Crescent Point Energy Company Profile

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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