Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday.

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. “

Other research analysts also recently issued research reports about the company. Desjardins downgraded Crescent Point Energy Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub downgraded Crescent Point Energy Corporation from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 6th. ValuEngine downgraded Crescent Point Energy Corporation from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Scotiabank restated a “buy” rating and issued a $17.00 target price on shares of Crescent Point Energy Corporation in a research note on Tuesday. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $14.00 target price on shares of Crescent Point Energy Corporation in a research note on Monday, September 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $13.33.

Shares of Crescent Point Energy Corporation (NYSE:CPG) traded down 1.15% during mid-day trading on Wednesday, reaching $7.71. The company’s stock had a trading volume of 2,286,064 shares. Crescent Point Energy Corporation has a 52-week low of $6.46 and a 52-week high of $14.74. The company’s market capitalization is $4.21 billion. The firm’s 50 day moving average is $7.40 and its 200-day moving average is $8.40.

Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) last issued its earnings results on Thursday, July 27th. The oil and gas producer reported $0.05 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $605.03 million for the quarter, compared to the consensus estimate of $602.04 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. Analysts forecast that Crescent Point Energy Corporation will post $0.21 EPS for the current year.

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Several large investors have recently made changes to their positions in CPG. Bank of New York Mellon Corp lifted its position in shares of Crescent Point Energy Corporation by 6.9% in the first quarter. Bank of New York Mellon Corp now owns 719,867 shares of the oil and gas producer’s stock worth $7,789,000 after buying an additional 46,778 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of Crescent Point Energy Corporation by 24.8% in the first quarter. Parametric Portfolio Associates LLC now owns 109,681 shares of the oil and gas producer’s stock worth $1,187,000 after buying an additional 21,795 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Crescent Point Energy Corporation by 1.6% in the first quarter. JPMorgan Chase & Co. now owns 460,257 shares of the oil and gas producer’s stock worth $4,979,000 after buying an additional 7,246 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Crescent Point Energy Corporation in the first quarter worth about $187,000. Finally, Alliancebernstein L.P. lifted its position in shares of Crescent Point Energy Corporation by 59.7% in the first quarter. Alliancebernstein L.P. now owns 71,302 shares of the oil and gas producer’s stock worth $771,000 after buying an additional 26,665 shares during the last quarter. 38.99% of the stock is owned by institutional investors.

About Crescent Point Energy Corporation

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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