CIBC Asset Management Inc Has $11.24 Million Position in Crescent Point Energy Corp (CPG)

CIBC Asset Management Inc cut its stake in shares of Crescent Point Energy Corp (NYSE:CPG) (TSE:CPG) by 49.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,469,903 shares of the oil and gas producer’s stock after selling 3,385,925 shares during the quarter. CIBC Asset Management Inc owned 0.63% of Crescent Point Energy worth $11,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of CPG. Bank of New York Mellon Corp lifted its position in Crescent Point Energy by 25.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 719,023 shares of the oil and gas producer’s stock worth $4,565,000 after buying an additional 148,097 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Crescent Point Energy by 283.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 942,004 shares of the oil and gas producer’s stock worth $5,981,000 after purchasing an additional 696,256 shares during the last quarter. Man Group plc raised its holdings in Crescent Point Energy by 129.1% during the 3rd quarter. Man Group plc now owns 25,659 shares of the oil and gas producer’s stock worth $163,000 after purchasing an additional 14,459 shares during the last quarter. Morgan Stanley raised its holdings in Crescent Point Energy by 93.0% during the 3rd quarter. Morgan Stanley now owns 4,618,575 shares of the oil and gas producer’s stock worth $29,328,000 after purchasing an additional 2,225,693 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Crescent Point Energy by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 15,583,750 shares of the oil and gas producer’s stock worth $98,957,000 after purchasing an additional 660,147 shares during the last quarter. Institutional investors own 37.09% of the company’s stock.

Shares of CPG stock opened at $3.80 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $2.19 billion, a PE ratio of 11.52 and a beta of 1.12. Crescent Point Energy Corp has a one year low of $2.43 and a one year high of $8.81.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last announced its quarterly earnings results on Thursday, May 9th. The oil and gas producer reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.20. The company had revenue of $671.24 million during the quarter, compared to analysts’ expectations of $621.98 million. Crescent Point Energy had a positive return on equity of 3.99% and a negative net margin of 67.99%. During the same period in the prior year, the business posted $0.12 EPS. As a group, sell-side analysts expect that Crescent Point Energy Corp will post 0.15 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Saturday, June 15th will be paid a $0.007 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.03 dividend on an annualized basis and a dividend yield of 0.74%. Crescent Point Energy’s dividend payout ratio (DPR) is presently 9.09%.

Several analysts have weighed in on CPG shares. Macquarie cut Crescent Point Energy from an “outperform” rating to a “neutral” rating in a report on Friday, January 18th. Raymond James reissued a “hold” rating on shares of Crescent Point Energy in a report on Wednesday, January 16th. Zacks Investment Research cut Crescent Point Energy from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Finally, CIBC raised Crescent Point Energy from a “neutral” rating to a “sector outperform” rating in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $4.35.

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About Crescent Point Energy

Crescent Point Energy Corp. explores, develops, and produces light and medium crude oil and natural gas reserves 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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