Crescent Point Energy Co. (NYSE:CPG) (TSE:CPG) has received an average rating of “Hold” from the seven analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $15.50.
A number of equities research analysts recently commented on CPG shares. Scotiabank reiterated a “buy” rating and issued a $17.00 price objective on shares of Crescent Point Energy in a report on Tuesday, October 10th. Zacks Investment Research upgraded Crescent Point Energy from a “hold” rating to a “strong-buy” rating and set a $9.00 price objective for the company in a report on Tuesday, October 10th. ValuEngine downgraded Crescent Point Energy from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Desjardins downgraded Crescent Point Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $14.00 price objective on shares of Crescent Point Energy in a report on Monday, September 25th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPG. Sciencast Management LP increased its holdings in 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 last quarter. DekaBank Deutsche Girozentrale grew its stake in 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 valued at $171,000 after acquiring an additional 3,600 shares during the period. Candriam Luxembourg S.C.A. grew its stake in Crescent Point Energy by 14.7% in 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 acquiring an additional 4,290 shares during the period. Korea Investment CORP grew its stake in Crescent Point Energy by 1.9% in the second quarter. Korea Investment CORP now owns 34,122 shares of the oil and gas producer’s stock valued at $261,000 after acquiring an additional 645 shares during the period. Finally, Airain ltd grew its stake in 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 valued at $295,000 after acquiring an additional 9,012 shares during the period. Institutional investors and hedge funds own 39.72% of the company’s stock.
The business also recently disclosed a dividend, which was paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st were issued a $0.024 dividend. The ex-dividend date was Monday, October 30th. This is an increase from Crescent Point Energy’s previous dividend of $0.02. Crescent Point Energy’s dividend payout ratio is currently -34.15%.
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About Crescent Point Energy
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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