Goldman Sachs Group Inc. increased its stake in shares of Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) by 58.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 394,140 shares of the oil and gas producer’s stock after buying an additional 145,647 shares during the period. Goldman Sachs Group Inc. owned approximately 0.07% of Crescent Point Energy Corporation worth $4,264,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI increased its stake in shares of Crescent Point Energy Corporation by 3.2% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 88,181 shares of the oil and gas producer’s stock valued at $954,000 after buying an additional 2,726 shares in the last quarter. Tocqueville Asset Management L.P. increased its stake in shares of Crescent Point Energy Corporation by 301.0% in the first quarter. Tocqueville Asset Management L.P. now owns 213,550 shares of the oil and gas producer’s stock valued at $2,311,000 after buying an additional 160,300 shares in the last quarter. Shell Asset Management Co. increased its stake in shares of Crescent Point Energy Corporation by 8.0% in the first quarter. Shell Asset Management Co. now owns 222,923 shares of the oil and gas producer’s stock valued at $3,203,000 after buying an additional 16,434 shares in the last quarter. Korea Investment CORP bought a new stake in shares of Crescent Point Energy Corporation during the first quarter valued at approximately $361,000. Finally, Candriam Luxembourg S.C.A. increased its stake in shares of Crescent Point Energy Corporation by 80.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 29,198 shares of the oil and gas producer’s stock valued at $315,000 after buying an additional 13,024 shares in the last quarter. 41.32% of the stock is owned by institutional investors and hedge funds.
Crescent Point Energy Corporation (CPG) traded down 2.53% on Monday, reaching $7.31. The company had a trading volume of 308,475 shares. The stock’s market capitalization is $3.99 billion. The firm has a 50 day moving average price of $7.68 and a 200-day moving average price of $9.83. Crescent Point Energy Corporation has a 12 month low of $6.97 and a 12 month high of $17.22.
Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) last posted its earnings results on Thursday, July 27th. The oil and gas producer reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.08. The firm had revenue of $605.03 million for the quarter, compared to analyst estimates of $602.04 million. Crescent Point Energy Corporation had a positive return on equity of 1.83% and a negative net margin of 13.80%. During the same period in the previous year, the company posted $0.03 earnings per share. Analysts forecast that Crescent Point Energy Corporation will post $0.20 earnings per share for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be issued a dividend of $0.023 per share. The ex-dividend date of this dividend is Thursday, July 27th. This is a positive change from Crescent Point Energy Corporation’s previous monthly dividend of $0.02. This represents a $0.28 annualized dividend and a yield of 3.68%. Crescent Point Energy Corporation’s payout ratio is currently -48.28%.
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Several brokerages have recently commented on CPG. AltaCorp Capital reaffirmed an “outperform” rating on shares of Crescent Point Energy Corporation in a report on Tuesday, May 9th. Zacks Investment Research raised Crescent Point Energy Corporation from a “hold” rating to a “strong-buy” rating and set a $11.00 target price for the company in a report on Monday, May 1st. ValuEngine downgraded Crescent Point Energy Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, BidaskClub raised Crescent Point Energy Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $20.94.
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