Crescent Point Energy Corp (CPG) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in Crescent Point Energy Corp (NYSE:CPG) (TSE:CPG) by 25.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 719,023 shares of the oil and gas producer’s stock after purchasing an additional 148,097 shares during the quarter. Bank of New York Mellon Corp owned 0.13% of Crescent Point Energy worth $4,565,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC increased its holdings in shares of Crescent Point Energy by 372.5% in the 2nd quarter. Renaissance Technologies LLC now owns 374,200 shares of the oil and gas producer’s stock valued at $2,750,000 after purchasing an additional 295,000 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Crescent Point Energy by 14.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 110,387 shares of the oil and gas producer’s stock valued at $690,000 after purchasing an additional 13,650 shares in the last quarter. Artemis Investment Management LLP purchased a new position in shares of Crescent Point Energy in the 3rd quarter valued at about $1,302,000. Commonwealth Bank of Australia increased its holdings in shares of Crescent Point Energy by 185.9% in the 3rd quarter. Commonwealth Bank of Australia now owns 495,215 shares of the oil and gas producer’s stock valued at $3,149,000 after purchasing an additional 322,000 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Crescent Point Energy by 2.5% in the 3rd quarter. CIBC Asset Management Inc now owns 8,436,131 shares of the oil and gas producer’s stock valued at $53,645,000 after purchasing an additional 208,796 shares in the last quarter. Institutional investors and hedge funds own 37.83% of the company’s stock.

CPG has been the subject of a number of research analyst reports. Macquarie downgraded shares of Crescent Point Energy from an “outperform” rating to a “neutral” rating in a report on Friday, January 18th. Zacks Investment Research cut shares of Crescent Point Energy from a “buy” rating to a “hold” rating in a research note on Monday, January 21st. BMO Capital Markets reissued an “average” rating and issued a $5.00 price objective on shares of Crescent Point Energy in a research note on Monday, January 7th. TD Securities raised shares of Crescent Point Energy from a “hold” rating to a “buy” rating in a research note on Monday, January 7th. Finally, Canaccord Genuity cut shares of Crescent Point Energy to a “buy” rating in a research note on Thursday, January 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Crescent Point Energy currently has a consensus rating of “Hold” and a consensus target price of $4.38.

Shares of NYSE CPG opened at $2.76 on Thursday. The stock has a market capitalization of $1.50 billion, a P/E ratio of 19.75 and a beta of 0.99. Crescent Point Energy Corp has a 52 week low of $2.43 and a 52 week high of $9.20. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.48 and a current ratio of 0.48.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be paid a $0.007 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.03 dividend on an annualized basis and a yield of 1.01%. Crescent Point Energy’s payout ratio is 192.86%.

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Crescent Point Energy 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, and Utah.

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Institutional Ownership by Quarter for Crescent Point Energy (NYSE:CPG)

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