UBS cut shares of Crescent Point Energy (NYSE:CPG) (TSE:CPG) from an outperform rating to a market perform rating in a research note published on Thursday morning, The Fly reports.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Crescent Point Energy from a hold rating to a strong-buy rating and set a $9.50 price objective on the stock in a research note on Tuesday, September 26th. ValuEngine lowered shares of Crescent Point Energy from a hold rating to a sell rating in a research note on Friday, September 1st. Desjardins lowered shares of Crescent Point Energy from a buy rating to a hold rating in a research note on Wednesday, October 11th. Royal Bank of Canada reaffirmed a hold rating and issued a $14.00 price objective on shares of Crescent Point Energy in a research note on Monday, September 25th. Finally, Scotiabank reaffirmed a buy rating and issued a $17.00 price objective on shares of Crescent Point Energy in a research note on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $13.33.

Shares of Crescent Point Energy (NYSE:CPG) opened at $6.43 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.72 and a quick ratio of 0.72. Crescent Point Energy has a 12 month low of $6.42 and a 12 month high of $14.29. The company has a market cap of $3,509.46, a price-to-earnings ratio of 20.09 and a beta of 1.52.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its stake in Crescent Point Energy by 80.4% during the second quarter. Franklin Resources Inc. now owns 19,360,075 shares of the oil and gas producer’s stock worth $148,170,000 after acquiring an additional 8,628,868 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Crescent Point Energy by 7.5% during the third quarter. Mackenzie Financial Corp now owns 15,154,711 shares of the oil and gas producer’s stock worth $121,995,000 after acquiring an additional 1,059,760 shares in the last quarter. Vanguard Group Inc. boosted its stake in Crescent Point Energy by 4.8% during the second quarter. Vanguard Group Inc. now owns 12,931,504 shares of the oil and gas producer’s stock worth $98,925,000 after acquiring an additional 592,496 shares in the last quarter. TD Asset Management Inc. boosted its stake in Crescent Point Energy by 6.2% during the third quarter. TD Asset Management Inc. now owns 10,360,008 shares of the oil and gas producer’s stock worth $83,003,000 after acquiring an additional 602,814 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Crescent Point Energy by 7.6% during the third quarter. CIBC Asset Management Inc now owns 9,305,976 shares of the oil and gas producer’s stock worth $74,533,000 after acquiring an additional 657,250 shares in the last quarter. 39.72% of the stock is currently owned by institutional investors and hedge funds.

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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, Colorado, and Utah.

The Fly

Analyst Recommendations for Crescent Point Energy (NYSE:CPG)

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