Crescent Point Energy (NYSE:CPG) (TSE:CPG) was downgraded by equities research analysts at Raymond James Financial from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday.
A number of other analysts have also issued reports on the company. UBS lowered Crescent Point Energy from an “outperform” rating to a “market perform” rating in a report on Thursday. ValuEngine raised Crescent Point Energy from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Zacks Investment Research lowered Crescent Point Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 11th. Desjardins lowered Crescent Point Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, Scotiabank reissued a “buy” rating and set a $17.00 price objective on shares of Crescent Point Energy in a report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $13.33.
Crescent Point Energy (NYSE:CPG) traded down $0.25 on Thursday, reaching $6.79. The company’s stock had a trading volume of 1,498,800 shares, compared to its average volume of 1,197,352. The firm has a market cap of $3,710.00, a price-to-earnings ratio of 22.00 and a beta of 1.53. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.72 and a quick ratio of 0.72. Crescent Point Energy has a 12-month low of $6.46 and a 12-month high of $14.29.
Several large investors have recently made changes to their positions in the company. Franklin Resources Inc. lifted its position in shares of Crescent Point Energy by 80.4% during the 2nd quarter. Franklin Resources Inc. now owns 19,360,075 shares of the oil and gas producer’s stock worth $148,170,000 after buying an additional 8,628,868 shares during the period. Fiera Capital Corp lifted its position in shares of Crescent Point Energy by 1,017.4% during the 2nd quarter. Fiera Capital Corp now owns 1,880,707 shares of the oil and gas producer’s stock worth $14,361,000 after buying an additional 1,712,394 shares during the period. Mackenzie Financial Corp lifted its position in shares of Crescent Point Energy by 7.5% during the 3rd quarter. Mackenzie Financial Corp now owns 15,154,711 shares of the oil and gas producer’s stock worth $121,995,000 after buying an additional 1,059,760 shares during the period. Intact Investment Management Inc. lifted its position in shares of Crescent Point Energy by 46.9% during the 3rd quarter. Intact Investment Management Inc. now owns 3,010,220 shares of the oil and gas producer’s stock worth $30,162,000 after buying an additional 960,900 shares during the period. Finally, Lincluden Management Ltd. lifted its position in shares of Crescent Point Energy by 19.7% during the 3rd quarter. Lincluden Management Ltd. now owns 4,961,747 shares of the oil and gas producer’s stock worth $39,863,000 after buying an additional 815,095 shares during the period. 39.72% of the stock is currently owned by institutional investors.
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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.
