Crescent Point Energy (CPG) Lowered to Hold at Zacks Investment Research

Crescent Point Energy (NYSE:CPG) (TSE:CPG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

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. “

Several other equities research analysts also recently issued reports on the company. Raymond James Financial downgraded Crescent Point Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 14th. Scotiabank reissued a “buy” rating and set a $17.00 target price on shares of Crescent Point Energy in a research report on Tuesday, October 10th. AltaCorp Capital reissued a “buy” rating and set a $16.25 target price on shares of Crescent Point Energy in a research report on Monday, January 15th. UBS Group downgraded Crescent Point Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 14th. Finally, ValuEngine raised Crescent Point Energy from a “sell” rating to a “hold” rating in a research report on Friday, December 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $13.94.

Shares of Crescent Point Energy (CPG) traded down $0.21 during trading hours on Monday, hitting $7.32. The stock had a trading volume of 2,580,608 shares, compared to its average volume of 1,510,000. The firm has a market capitalization of $4,110.00, a P/E ratio of -8.32, a P/E/G ratio of 7.17 and a beta of 1.52. Crescent Point Energy has a 12 month low of $6.42 and a 12 month high of $12.66. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.44.

A number of hedge funds have recently added to or reduced their stakes in CPG. Vanguard Group Inc. grew its position in Crescent Point Energy by 4.8% during the second quarter. Vanguard Group Inc. now owns 12,931,504 shares of the oil and gas producer’s stock worth $98,925,000 after buying an additional 592,496 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in Crescent Point Energy by 3.1% during the second quarter. Parametric Portfolio Associates LLC now owns 113,088 shares of the oil and gas producer’s stock worth $865,000 after buying an additional 3,407 shares in the last quarter. Voya Investment Management LLC grew its position in Crescent Point Energy by 38.7% during the second quarter. Voya Investment Management LLC now owns 119,939 shares of the oil and gas producer’s stock worth $918,000 after buying an additional 33,439 shares in the last quarter. Sciencast Management LP grew its position in Crescent Point Energy by 26.6% during the second quarter. Sciencast Management LP now owns 15,244 shares of the oil and gas producer’s stock worth $117,000 after buying an additional 3,204 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in Crescent Point Energy by 97.9% during the second quarter. Cubist Systematic Strategies LLC now owns 83,911 shares of the oil and gas producer’s stock worth $642,000 after buying an additional 41,520 shares in the last quarter. 39.92% of the stock is currently owned by institutional investors and hedge funds.

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Crescent Point Energy Company Profile

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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