Crescent Point Energy (NYSE:CPG) Trading Down 2.8%

Crescent Point Energy Corp (NYSE:CPG) (TSE:CPG) shares fell 2.8% during mid-day trading on Thursday . The company traded as low as $2.85 and last traded at $2.77, 164,658 shares were traded during mid-day trading. A decline of 93% from the average session volume of 2,522,635 shares. The stock had previously closed at $2.85.

A number of brokerages recently issued reports on CPG. Royal Bank of Canada reaffirmed a “hold” rating and issued a $6.00 price target on shares of Crescent Point Energy in a report on Thursday, July 18th. Canaccord Genuity raised Crescent Point Energy to a “buy” rating in a report on Thursday, May 9th. Raymond James reaffirmed a “hold” rating on shares of Crescent Point Energy in a report on Friday, May 10th. Zacks Investment Research downgraded Crescent Point Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, CIBC raised Crescent Point Energy from a “neutral” rating to a “sector outperform” rating in a report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $4.77.

The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 8.39 and a beta of 1.07. The company has a fifty day moving average price of $3.14 and a two-hundred day moving average price of $3.31.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last announced its earnings results on Thursday, July 25th. The oil and gas producer reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. Crescent Point Energy had a negative net margin of 58.40% and a positive return on equity of 5.15%. The business had revenue of $706.64 million for the quarter, compared to analysts’ expectations of $724.48 million. During the same period in the previous year, the company posted $0.19 EPS. On average, equities analysts anticipate that Crescent Point Energy Corp will post 0.45 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Sunday, September 15th will be paid a dividend of $0.008 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.03 dividend on an annualized basis and a yield of 1.16%. This is a boost from Crescent Point Energy’s previous quarterly dividend of $0.01. Crescent Point Energy’s dividend payout ratio is currently 9.09%.

Institutional investors have recently modified their holdings of the business. Stratos Wealth Partners LTD. purchased a new position in shares of Crescent Point Energy during the first quarter worth about $32,000. Corient Capital Partners LLC purchased a new stake in Crescent Point Energy during the 2nd quarter valued at approximately $39,000. Jefferies Group LLC purchased a new stake in Crescent Point Energy during the 2nd quarter valued at approximately $68,000. Tower Research Capital LLC TRC lifted its position in Crescent Point Energy by 72.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 21,032 shares of the oil and gas producer’s stock worth $70,000 after acquiring an additional 8,871 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Crescent Point Energy during the 4th quarter worth approximately $70,000. 33.03% of the stock is currently owned by institutional investors.

About Crescent Point Energy (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.

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