Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, July 21st.
According to Zacks, “Crescent Point Energy Corp. is engaged in the acquisition, exploration and development of oil and natural gas properties in Western Canada. The Company’s operations consist of light and medium oil and natural gas assets strategically focused in core areas in southern Saskatchewan and central and southern Alberta. Crescent Point Energy Corp., formerly known as Crescent Point Energy Trust, is headquartered in Calgary, Canada. “
A number of other equities research analysts also recently weighed in on the company. AltaCorp Capital reiterated an “outperform” rating on shares of Crescent Point Energy Corporation in a report on Tuesday, May 9th. ValuEngine downgraded Crescent Point Energy Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $20.94.
Crescent Point Energy Corporation (NYSE CPG) traded down 2.109% on Friday, hitting $7.195. 627,308 shares of the stock traded hands. Crescent Point Energy Corporation has a 12 month low of $6.97 and a 12 month high of $17.22. The firm has a 50-day moving average price of $7.68 and a 200-day moving average price of $9.83. The company’s market capitalization is $3.92 billion.
Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas producer reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.08. Crescent Point Energy Corporation had a positive return on equity of 1.83% and a negative net margin of 13.80%. The company had revenue of $605.03 million for the quarter, compared to the consensus estimate of $602.04 million. During the same period in the previous year, the business earned $0.03 EPS. Analysts forecast that Crescent Point Energy Corporation will post $0.20 earnings per share for the current year.
Several large investors have recently made changes to their positions in CPG. 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 acquired a new position in Crescent Point Energy Corporation during the first quarter valued at $361,000. Candriam Luxembourg S.C.A. raised its position in 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 during the last quarter. TNB Financial acquired a new position in Crescent Point Energy Corporation during the first quarter valued at $124,000. Finally, Capstone Asset Management Co. raised its position in Crescent Point Energy Corporation by 6.4% in the first quarter. Capstone Asset Management Co. now owns 52,690 shares of the oil and gas producer’s stock valued at $570,000 after buying an additional 3,170 shares during the last quarter. 41.32% of the stock is owned by institutional investors and hedge funds.
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