Cumberland Partners Ltd reduced its stake in shares of Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) by 0.7% during the second quarter, Holdings Channel reports. The fund owned 37,900 shares of the oil and gas producer’s stock after selling 250 shares during the period. Cumberland Partners Ltd’s holdings in Crescent Point Energy Corporation were worth $290,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in shares of Crescent Point Energy Corporation by 1,273.5% in the first quarter. Tower Research Capital LLC TRC now owns 7,142 shares of the oil and gas producer’s stock valued at $103,000 after buying an additional 6,622 shares during the last quarter. TNB Financial purchased a new stake in shares of Crescent Point Energy Corporation during the first quarter valued at about $124,000. DekaBank Deutsche Girozentrale raised its stake in shares of Crescent Point Energy Corporation by 19.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 22,244 shares of the oil and gas producer’s stock valued at $171,000 after buying an additional 3,600 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Crescent Point Energy Corporation during the first quarter valued at about $187,000. Finally, Candriam Luxembourg S.C.A. raised its stake in shares of Crescent Point Energy Corporation by 14.7% in the second quarter. Candriam Luxembourg S.C.A. now owns 33,488 shares of the oil and gas producer’s stock valued at $256,000 after buying an additional 4,290 shares during the last quarter. Hedge funds and other institutional investors own 41.32% of the company’s stock.

Shares of Crescent Point Energy Corporation (NYSE:CPG) opened at 7.08 on Friday. The company’s market capitalization is $3.86 billion. The company’s 50 day moving average price is $7.49 and its 200-day moving average price is $9.64. Crescent Point Energy Corporation has a 1-year low of $6.97 and a 1-year high of $17.22.

Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) last announced its earnings results on Thursday, July 27th. The oil and gas producer reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.08. Crescent Point Energy Corporation had a positive return on equity of 1.83% and a negative net margin of 13.80%. The company had revenue of $605.03 million for the quarter, compared to analysts’ expectations of $602.04 million. During the same period last year, the firm earned $0.03 EPS. On average, equities analysts forecast that Crescent Point Energy Corporation will post $0.20 earnings per share for the current year.

The business also recently announced a monthly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be issued a $0.023 dividend. This is a boost from Crescent Point Energy Corporation’s previous monthly dividend of $0.02. This represents a $0.28 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Thursday, July 27th. Crescent Point Energy Corporation’s dividend payout ratio (DPR) is currently -48.28%.

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Several analysts have issued reports on the company. BidaskClub upgraded Crescent Point Energy Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. ValuEngine lowered Crescent Point Energy Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded Crescent Point Energy Corporation from a “hold” rating to a “strong-buy” rating and set a $8.25 target price on the stock in a research note on Tuesday, July 11th. Finally, AltaCorp Capital restated an “outperform” rating on shares of Crescent Point Energy Corporation in a research note on Tuesday, May 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $20.94.

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

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