Canaccord Genuity downgraded shares of Crescent Point Energy (NYSE:CPG) (TSE:CPG) to a buy rating in a research note published on Thursday morning, The Fly reports.

A number of other equities analysts have also recently commented on the company. BMO Capital Markets cut Crescent Point Energy from an outperform rating to a market perform rating in a report on Monday, October 22nd. TD Securities reiterated a hold rating on shares of Crescent Point Energy in a report on Sunday, October 28th. Finally, Zacks Investment Research upgraded Crescent Point Energy from a hold rating to a buy rating and set a $6.50 target price for the company in a report on Tuesday, October 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $9.25.

Shares of Crescent Point Energy stock opened at $3.39 on Thursday. The company has a market capitalization of $1.90 billion, a PE ratio of 24.21 and a beta of 1.07. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.48 and a quick ratio of 0.48. Crescent Point Energy has a one year low of $2.70 and a one year high of $9.25.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last announced its earnings results on Thursday, October 25th. The oil and gas producer reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.03. The firm had revenue of $823.88 million during the quarter, compared to analysts’ expectations of $738.26 million. Crescent Point Energy had a positive return on equity of 2.38% and a negative net margin of 7.36%. As a group, research analysts forecast that Crescent Point Energy will post -0.21 earnings per share for the current year.

The business also recently announced a monthly dividend, which was paid on Monday, December 17th. Stockholders of record on Friday, November 30th were issued a $0.023 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 8.14%. The ex-dividend date was Thursday, November 29th. Crescent Point Energy’s dividend payout ratio (DPR) is 192.86%.

Several institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. boosted its holdings in shares of Crescent Point Energy by 15.8% in the 3rd quarter. Franklin Resources Inc. now owns 33,361,414 shares of the oil and gas producer’s stock worth $212,163,000 after purchasing an additional 4,558,402 shares during the period. FIL Ltd boosted its holdings in shares of Crescent Point Energy by 8.6% in the 3rd quarter. FIL Ltd now owns 25,454,550 shares of the oil and gas producer’s stock worth $161,991,000 after purchasing an additional 2,023,430 shares during the period. Vanguard Group Inc. boosted 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 valued at $98,957,000 after acquiring an additional 660,147 shares during the period. Vanguard Group Inc boosted 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 valued at $98,957,000 after acquiring an additional 660,147 shares during the period. Finally, Bank of Montreal Can boosted its holdings in Crescent Point Energy by 5.1% during the 3rd quarter. Bank of Montreal Can now owns 12,652,603 shares of the oil and gas producer’s stock valued at $80,344,000 after acquiring an additional 619,015 shares during the period. Hedge funds and other institutional investors own 40.08% of the company’s stock.

Crescent Point Energy Company 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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