Crescent Point Energy Corp (NYSE:CPG) (TSE:CPG) shares gapped up prior to trading on Tuesday . The stock had previously closed at $4.82, but opened at $4.72. Crescent Point Energy shares last traded at $4.65, with a volume of 289,916 shares.

CPG has been the topic of a number of recent research reports. BMO Capital Markets upgraded Crescent Point Energy from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $6.00 to $8.00 in a research note on Monday. Zacks Investment Research downgraded Crescent Point Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Raymond James set a $7.00 target price on Crescent Point Energy and gave the stock a “hold” rating in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $6.00 target price on shares of Crescent Point Energy in a research note on Thursday, July 18th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $5.81.

The company has a market cap of $2.47 billion, a PE ratio of 13.95 and a beta of 1.06. The business has a 50-day simple moving average of $3.30 and a 200-day simple moving average of $3.39. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.55.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last issued its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. The company had revenue of $706.64 million for the quarter, compared to the consensus estimate of $724.48 million. Crescent Point Energy had a positive return on equity of 5.15% and a negative net margin of 58.40%. During the same quarter in the prior year, the business posted $0.19 earnings per share. On average, research analysts forecast that Crescent Point Energy Corp will post 0.47 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Sunday, September 15th will be given a dividend of $0.008 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.03 dividend on an annualized basis and a yield of 0.69%. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.01. Crescent Point Energy’s dividend payout ratio is currently 9.09%.

Hedge funds have recently modified their holdings of the business. Stratos Wealth Partners LTD. purchased a new position in Crescent Point Energy during the first quarter worth approximately $32,000. Corient Capital Partners LLC acquired a new position in shares of Crescent Point Energy during the second quarter valued at approximately $39,000. Jefferies Group LLC acquired a new position in shares of Crescent Point Energy during the second quarter valued at approximately $68,000. Tower Research Capital LLC TRC raised its holdings in shares of Crescent Point Energy by 72.9% during the second quarter. Tower Research Capital LLC TRC now owns 21,032 shares of the oil and gas producer’s stock valued at $70,000 after acquiring an additional 8,871 shares during the last quarter. Finally, NumerixS Investment Technologies Inc increased its holdings in shares of Crescent Point Energy by 832.0% in the first quarter. NumerixS Investment Technologies Inc now owns 46,600 shares of the oil and gas producer’s stock valued at $150,000 after purchasing an additional 41,600 shares during the last quarter. Institutional investors own 31.72% of the company’s stock.

About Crescent Point Energy (NYSE:CPG)

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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