Aigen Investment Management LP purchased a new stake in shares of Crescent Point Energy Corp. (NYSE:CPG – Get Rating) (TSE:CPG) during the first quarter, Holdings Channel reports. The firm purchased 18,830 shares of the oil and gas producer’s stock, valued at approximately $137,000.
A number of other large investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Crescent Point Energy by 80.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 104,316 shares of the oil and gas producer’s stock worth $549,000 after buying an additional 46,481 shares during the period. Intelligence Driven Advisers LLC purchased a new position in shares of Crescent Point Energy in the fourth quarter worth about $65,000. Toronto Dominion Bank increased its holdings in shares of Crescent Point Energy by 1.3% in the fourth quarter. Toronto Dominion Bank now owns 3,990,150 shares of the oil and gas producer’s stock worth $21,290,000 after buying an additional 49,306 shares during the period. Ninepoint Partners LP purchased a new position in shares of Crescent Point Energy in the fourth quarter worth about $69,420,000. Finally, First Trust Advisors LP purchased a new position in shares of Crescent Point Energy in the fourth quarter worth about $70,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.
Crescent Point Energy Stock Performance
Crescent Point Energy stock opened at $7.03 on Friday. The stock’s 50 day simple moving average is $7.89 and its two-hundred day simple moving average is $7.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 3.04 and a beta of 2.26. Crescent Point Energy Corp. has a fifty-two week low of $2.75 and a fifty-two week high of $10.96.
Crescent Point Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be given a dividend of $0.062 per share. This represents a $0.25 annualized dividend and a yield of 3.53%. This is a boost from Crescent Point Energy’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Wednesday, September 14th. Crescent Point Energy’s payout ratio is presently 9.09%.
Wall Street Analyst Weigh In
Several research analysts have recently commented on CPG shares. Stifel Nicolaus lifted their price objective on Crescent Point Energy from C$15.50 to C$17.00 in a report on Thursday, June 30th. Scotiabank upgraded Crescent Point Energy from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, June 8th. National Bank Financial reduced their price target on Crescent Point Energy from C$21.00 to C$20.00 in a report on Thursday, July 28th. Finally, CIBC boosted their price target on Crescent Point Energy from C$13.50 to C$16.00 in a report on Wednesday, June 15th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.00.
Crescent Point Energy Company Profile
Crescent Point Energy Corp. explores, develops, and produces light and medium crude oil, natural gas liquids, and natural gas reserves in Western Canada and the United States. It'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 and Montana.
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