Franklin Resources Inc. increased its holdings in shares of Crescent Point Energy Co. (NYSE:CPG) (TSE:CPG) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,067,632 shares of the oil and gas producer’s stock after purchasing an additional 1,523,931 shares during the quarter. Franklin Resources Inc. owned approximately 5.14% of Crescent Point Energy worth $213,896,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. AMP Capital Investors Ltd lifted its stake in Crescent Point Energy by 27.4% during the fourth quarter. AMP Capital Investors Ltd now owns 290,498 shares of the oil and gas producer’s stock worth $2,221,000 after purchasing an additional 62,500 shares during the last quarter. Portland Investment Counsel Inc. purchased a new stake in Crescent Point Energy during the fourth quarter worth approximately $4,008,000. Amundi Pioneer Asset Management Inc. purchased a new stake in Crescent Point Energy in the fourth quarter valued at approximately $538,000. Mackenzie Financial Corp lifted its stake in Crescent Point Energy by 8.3% in the fourth quarter. Mackenzie Financial Corp now owns 16,418,931 shares of the oil and gas producer’s stock valued at $125,112,000 after buying an additional 1,264,220 shares during the last quarter. Finally, Ninepoint Partners LP lifted its stake in Crescent Point Energy by 195.7% in the fourth quarter. Ninepoint Partners LP now owns 1,091,000 shares of the oil and gas producer’s stock valued at $8,313,000 after buying an additional 722,000 shares during the last quarter. Hedge funds and other institutional investors own 40.29% of the company’s stock.
A number of equities research analysts have weighed in on the company. ValuEngine cut Crescent Point Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Zacks Investment Research cut Crescent Point Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. AltaCorp Capital reiterated a “buy” rating and issued a $16.25 price objective on shares of Crescent Point Energy in a research note on Monday, January 15th. UBS Group cut Crescent Point Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 14th. Finally, Raymond James Financial cut Crescent Point Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Crescent Point Energy presently has an average rating of “Hold” and a consensus target price of $13.69.
Crescent Point Energy (NYSE:CPG) (TSE:CPG) last issued its quarterly earnings data on Thursday, March 1st. The oil and gas producer reported ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.13). The firm had revenue of $721.29 million during the quarter, compared to analysts’ expectations of $691.70 million. Crescent Point Energy had a negative net margin of 4.23% and a positive return on equity of 1.04%. During the same quarter in the prior year, the firm posted $0.18 EPS. equities research analysts expect that Crescent Point Energy Co. will post 0.24 EPS for the current year.
The business also recently announced a monthly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be issued a $0.024 dividend. This represents a $0.29 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend is Tuesday, February 27th. Crescent Point Energy’s payout ratio is currently -144.99%.
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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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