Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) was downgraded by Desjardins from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, The Fly reports.

A number of other research analysts also recently commented on CPG. Royal Bank Of Canada reaffirmed a “hold” rating and set a $14.00 price objective on shares of Crescent Point Energy Corporation in a research report on Monday, September 25th. BidaskClub raised shares of Crescent Point Energy Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Scotiabank reaffirmed a “buy” rating and set a $17.00 price objective on shares of Crescent Point Energy Corporation in a research report on Tuesday. Zacks Investment Research raised shares of Crescent Point Energy Corporation from a “hold” rating to a “strong-buy” rating and set a $9.50 price objective on the stock in a research report on Tuesday, September 26th. Finally, ValuEngine raised shares of Crescent Point Energy Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Crescent Point Energy Corporation currently has a consensus rating of “Hold” and a consensus price target of $13.33.

Crescent Point Energy Corporation (NYSE CPG) traded down 2.56% during trading on Wednesday, reaching $7.60. 944,228 shares of the company’s stock were exchanged. Crescent Point Energy Corporation has a 52 week low of $6.46 and a 52 week high of $14.74. The stock’s market capitalization is $4.14 billion. The company’s 50 day moving average price is $7.40 and its 200-day moving average price is $8.40.

Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas producer reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.08. Crescent Point Energy Corporation had a negative net margin of 13.80% and a positive return on equity of 1.83%. The firm 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 firm posted $0.03 earnings per share. On average, equities analysts expect that Crescent Point Energy Corporation will post $0.21 EPS for the current year.

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A number of institutional investors and hedge funds have recently made changes to their positions in CPG. Tower Research Capital LLC TRC lifted its stake in Crescent Point Energy Corporation by 1,273.5% in the first quarter. Tower Research Capital LLC TRC now owns 7,142 shares of the oil and gas producer’s stock valued at $103,000 after acquiring an additional 6,622 shares during the last quarter. Sciencast Management LP lifted its stake in Crescent Point Energy Corporation by 26.6% in the second quarter. Sciencast Management LP now owns 15,244 shares of the oil and gas producer’s stock valued at $117,000 after acquiring an additional 3,204 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Crescent Point Energy Corporation by 19.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 22,244 shares of the oil and gas producer’s stock valued at $171,000 after acquiring an additional 3,600 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Crescent Point Energy Corporation in the first quarter valued at approximately $187,000. Finally, Candriam Luxembourg S.C.A. lifted its stake in Crescent Point Energy Corporation by 14.7% in the second quarter. Candriam Luxembourg S.C.A. now owns 33,488 shares of the oil and gas producer’s stock valued at $256,000 after acquiring an additional 4,290 shares during the last quarter. 38.99% of the stock is currently owned by hedge funds and other 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.

The Fly

Analyst Recommendations for Crescent Point Energy Corporation (NYSE:CPG)

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