Crescent Point Energy Corp (CPG) Stake Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of Crescent Point Energy Corp (NYSE:CPG) (TSE:CPG) by 25.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 719,023 shares of the oil and gas producer’s stock after acquiring an additional 148,097 shares during the period. Bank of New York Mellon Corp’s holdings in Crescent Point Energy were worth $4,565,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Artemis Investment Management LLP bought a new stake in shares of Crescent Point Energy in the third quarter worth about $1,302,000. Commonwealth Bank of Australia boosted its position in Crescent Point Energy by 185.9% during the 3rd quarter. Commonwealth Bank of Australia now owns 495,215 shares of the oil and gas producer’s stock valued at $3,149,000 after acquiring an additional 322,000 shares in the last quarter. JPMorgan Chase & Co. boosted its position in 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 acquiring an additional 696,256 shares in the last quarter. CIBC Asset Management Inc boosted its position in Crescent Point Energy by 2.5% during the 3rd quarter. CIBC Asset Management Inc now owns 8,436,131 shares of the oil and gas producer’s stock valued at $53,645,000 after acquiring an additional 208,796 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Crescent Point Energy by 14.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 110,387 shares of the oil and gas producer’s stock valued at $690,000 after acquiring an additional 13,650 shares in the last quarter. Institutional investors and hedge funds own 37.83% of the company’s stock.

Crescent Point Energy stock opened at $2.76 on Thursday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.46. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 19.75 and a beta of 0.99. Crescent Point Energy Corp has a fifty-two week low of $2.43 and a fifty-two week high of $9.20.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be given a dividend of $0.007 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.03 annualized dividend and a yield of 1.01%. Crescent Point Energy’s payout ratio is 192.86%.

Several analysts have weighed in on CPG shares. BMO Capital Markets cut Crescent Point Energy from an “outperform” rating to a “market perform” rating in a research report on Monday, October 22nd. Zacks Investment Research cut Crescent Point Energy from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. TD Securities reaffirmed a “hold” rating on shares of Crescent Point Energy in a research report on Sunday, October 28th. Canaccord Genuity cut Crescent Point Energy to a “buy” rating in a research report on Thursday, January 10th. Finally, Raymond James reaffirmed a “hold” rating on shares of Crescent Point Energy in a research report on Wednesday, January 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $4.38.

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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, and Utah.

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

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