Crescent Point Energy Corp (NYSE:CPG) (TSE:CPG)’s share price fell 7.1% on Thursday . The company traded as low as $5.34 and last traded at $5.36. 2,921,340 shares traded hands during mid-day trading, an increase of 93% from the average session volume of 1,510,029 shares. The stock had previously closed at $5.77.
Separately, ValuEngine upgraded Crescent Point Energy from a “strong sell” rating to a “sell” rating in a report on Friday, June 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Crescent Point Energy presently has a consensus rating of “Hold” and an average price target of $14.31.
The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 38.79 and a beta of 1.31. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.41 and a quick ratio of 0.41.
Crescent Point Energy (NYSE:CPG) (TSE:CPG) last released its quarterly earnings results on Thursday, July 26th. The oil and gas producer reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.06. The firm had revenue of $718.68 million during the quarter, compared to analysts’ expectations of $706.95 million. Crescent Point Energy had a positive return on equity of 1.80% and a negative net margin of 16.48%. During the same quarter in the prior year, the business earned $0.07 EPS. analysts forecast that Crescent Point Energy Corp will post -0.17 earnings per share for the current year.
The firm also recently announced a monthly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Tuesday, July 31st were paid a dividend of $0.023 per share. This represents a $0.28 annualized dividend and a dividend yield of 5.08%. The ex-dividend date of this dividend was Monday, July 30th. Crescent Point Energy’s dividend payout ratio (DPR) is currently 200.00%.
Several institutional investors have recently added to or reduced their stakes in CPG. Toronto Dominion Bank boosted its stake in shares of Crescent Point Energy by 372.8% during the 1st quarter. Toronto Dominion Bank now owns 2,337,157 shares of the oil and gas producer’s stock valued at $15,869,000 after buying an additional 1,842,797 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. boosted its stake in shares of Crescent Point Energy by 34.4% during the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 6,100,704 shares of the oil and gas producer’s stock valued at $44,800,000 after buying an additional 1,561,376 shares during the last quarter. PCJ Investment Counsel Ltd. purchased a new position in shares of Crescent Point Energy during the 1st quarter valued at approximately $9,890,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Crescent Point Energy by 25.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,826,014 shares of the oil and gas producer’s stock valued at $42,783,000 after buying an additional 1,170,692 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Crescent Point Energy during the 1st quarter valued at approximately $6,794,000. Institutional investors own 39.06% of the company’s stock.
Crescent Point Energy Company Profile (NYSE:CPG)
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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