Crescent Point Energy (NYSE:CPG) (TSE:CPG) was downgraded by research analysts at UBS from an “outperform” rating to a “market perform” rating in a research report issued on Thursday, The Fly reports.

A number of other research firms also recently weighed in on CPG. Zacks Investment Research downgraded shares of Crescent Point Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 27th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $14.00 target price on shares of Crescent Point Energy in a research report on Monday, September 25th. Desjardins downgraded shares of Crescent Point Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Scotiabank reaffirmed a “buy” rating and issued a $17.00 target price on shares of Crescent Point Energy in a research report on Tuesday, October 10th. Finally, ValuEngine raised shares of Crescent Point Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $13.33.

Crescent Point Energy (NYSE CPG) traded down $0.14 during trading hours on Thursday, hitting $6.65. 1,539,821 shares of the stock were exchanged, compared to its average volume of 1,198,792. The stock has a market cap of $3,710.00, a P/E ratio of 22.00 and a beta of 1.53. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.44. Crescent Point Energy has a 12-month low of $6.46 and a 12-month high of $14.29.

A number of hedge funds have recently made changes to their positions in CPG. Franklin Resources Inc. grew its position in 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 valued at $148,170,000 after purchasing an additional 8,628,868 shares during the last quarter. Fiera Capital Corp grew its position in 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 valued at $14,361,000 after purchasing an additional 1,712,394 shares during the last quarter. Mackenzie Financial Corp grew its position in 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 valued at $121,995,000 after purchasing an additional 1,059,760 shares during the last quarter. Intact Investment Management Inc. grew its position in 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 valued at $30,162,000 after purchasing an additional 960,900 shares during the last quarter. Finally, Lincluden Management Ltd. grew its position in 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 valued at $39,863,000 after purchasing an additional 815,095 shares during the last quarter. 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.

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Analyst Recommendations for Crescent Point Energy (NYSE:CPG)

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