Crescent Point Energy Co. (NYSE:CPG) (TSE:CPG) – Research analysts at Cormark issued their FY2020 earnings estimates for shares of Crescent Point Energy in a report issued on Friday, according to Zacks Investment Research. Cormark analyst A. Arif anticipates that the oil and gas producer will post earnings per share of $0.82 for the year.
A number of other research firms have also recently weighed in on CPG. AltaCorp Capital restated a “buy” rating and issued a $16.25 price target on shares of Crescent Point Energy in a research note on Monday, January 15th. ValuEngine cut Crescent Point Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded Crescent Point Energy from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research note on Friday, December 29th. Raymond James Financial cut Crescent Point Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 14th. Finally, UBS Group cut Crescent Point Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Crescent Point Energy presently has an average rating of “Hold” and an average target price of $13.69.
Crescent Point Energy (NYSE:CPG) (TSE:CPG) last released its quarterly earnings data on Thursday, March 1st. The oil and gas producer reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.13). The company had revenue of $721.29 million during the quarter, compared to analyst estimates of $691.70 million. Crescent Point Energy had a negative net margin of 4.23% and a positive return on equity of 1.04%. During the same period in the previous year, the company posted $0.18 EPS.
Hedge funds have recently bought and sold shares of the business. Ontario Teachers Pension Plan Board bought a new position in Crescent Point Energy during the 4th quarter worth $142,000. Virtu Financial LLC increased its position in Crescent Point Energy by 63.1% during the 4th quarter. Virtu Financial LLC now owns 28,546 shares of the oil and gas producer’s stock worth $217,000 after buying an additional 11,040 shares during the period. Verition Fund Management LLC increased its position in Crescent Point Energy by 34.2% during the 4th quarter. Verition Fund Management LLC now owns 36,033 shares of the oil and gas producer’s stock worth $275,000 after buying an additional 9,184 shares during the period. Penbrook Management LLC bought a new position in Crescent Point Energy during the 4th quarter worth $300,000. Finally, Russell Investments Group Ltd. increased its position in Crescent Point Energy by 84.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 49,736 shares of the oil and gas producer’s stock worth $399,000 after buying an additional 22,754 shares during the period. Hedge funds and other institutional investors own 40.29% of the company’s stock.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be given a dividend of $0.024 per share. This represents a $0.29 annualized dividend and a yield of 4.32%. The ex-dividend date is Tuesday, February 27th. Crescent Point Energy’s payout ratio is -161.11%.
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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