Man Group plc Purchases 4,319,519 Shares of Crescent Point Energy Corp (NYSE:CPG)

Man Group plc lifted its holdings in Crescent Point Energy Corp (NYSE:CPG) (TSE:CPG) by 2,170.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,518,519 shares of the oil and gas producer’s stock after purchasing an additional 4,319,519 shares during the quarter. Man Group plc’s holdings in Crescent Point Energy were worth $19,316,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Squarepoint Ops LLC bought a new position in shares of Crescent Point Energy during the 3rd quarter valued at approximately $52,000. Voloridge Investment Management LLC bought a new stake in Crescent Point Energy in the third quarter worth $545,000. Rational Advisors LLC bought a new stake in Crescent Point Energy in the third quarter worth $206,000. Corient Capital Partners LLC boosted its stake in Crescent Point Energy by 107.9% during the third quarter. Corient Capital Partners LLC now owns 24,463 shares of the oil and gas producer’s stock worth $104,000 after buying an additional 12,695 shares during the period. Finally, Systematic Financial Management LP purchased a new position in Crescent Point Energy during the third quarter worth $529,000. Institutional investors own 35.47% of the company’s stock.

Several brokerages have recently weighed in on CPG. BMO Capital Markets raised shares of Crescent Point Energy from a “market perform” rating to an “outperform” rating and increased their target price for the company from $6.00 to $8.00 in a research note on Monday, September 16th. Zacks Investment Research downgraded shares of Crescent Point Energy from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Raymond James reissued a “hold” rating and issued a $5.50 price objective on shares of Crescent Point Energy in a research report on Friday, November 1st. ValuEngine lowered Crescent Point Energy from a “sell” rating to a “strong sell” rating in a research report on Friday, November 1st. Finally, National Bank Financial reiterated an “outperform overweight” rating and issued a $9.50 price target on shares of Crescent Point Energy in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $6.34.

Shares of NYSE CPG opened at $3.44 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 7.78 and a beta of 1.11. The stock has a 50 day moving average price of $3.87 and a 200 day moving average price of $3.56. Crescent Point Energy Corp has a 52-week low of $2.43 and a 52-week high of $4.76.

Crescent Point Energy Profile

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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