Crescent Point Energy Corporation (CPG) Stock Price Down 2.7%

Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) traded down 2.7% on Tuesday . The stock traded as low as $7.74 and last traded at $8.35. 1,634,400 shares changed hands during mid-day trading, an increase of 39% from the average session volume of 1,173,244 shares. The stock had previously closed at $8.58.

Several equities research analysts have weighed in on the company. BidaskClub raised Crescent Point Energy Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research lowered Crescent Point Energy Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 11th. ValuEngine lowered Crescent Point Energy Corporation from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Desjardins lowered Crescent Point Energy Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, Scotiabank reaffirmed a “buy” rating and issued a $17.00 target price on shares of Crescent Point Energy Corporation in a research report on Tuesday, October 10th. 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. Crescent Point Energy Corporation presently has a consensus rating of “Hold” and an average price target of $13.33.

The stock has a market capitalization of $4,682.92, a price-to-earnings ratio of 26.81 and a beta of 1.58. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.44.

The firm also recently declared a dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be issued a dividend of $0.024 per share. This is a positive change from Crescent Point Energy Corporation’s previous dividend of $0.02. The ex-dividend date is Monday, October 30th. Crescent Point Energy Corporation’s dividend payout ratio (DPR) is -35.37%.

Institutional investors and hedge funds have recently modified their holdings of the company. Sciencast Management LP increased its holdings in shares of Crescent Point Energy Corporation by 26.6% during 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 increased its holdings in shares of Crescent Point Energy Corporation by 19.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 22,244 shares of the oil and gas producer’s stock valued at $171,000 after purchasing an additional 3,600 shares during the period. Candriam Luxembourg S.C.A. increased its holdings in shares of Crescent Point Energy Corporation by 14.7% during the second quarter. Candriam Luxembourg S.C.A. now owns 33,488 shares of the oil and gas producer’s stock valued at $256,000 after purchasing an additional 4,290 shares during the period. Korea Investment CORP increased its holdings in shares of Crescent Point Energy Corporation by 1.9% during the second quarter. Korea Investment CORP now owns 34,122 shares of the oil and gas producer’s stock valued at $261,000 after purchasing an additional 645 shares during the period. Finally, Airain ltd increased its holdings in shares of Crescent Point Energy Corporation by 30.5% during the second quarter. Airain ltd now owns 38,512 shares of the oil and gas producer’s stock valued at $295,000 after purchasing an additional 9,012 shares during the period. 38.84% of the stock is currently owned by institutional investors.

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About Crescent Point Energy Corporation

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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