Waratah Capital Advisors Ltd. Acquires Shares of 484,476 Crescent Point Energy Corp. (NYSE:CPG)

Waratah Capital Advisors Ltd. acquired a new stake in Crescent Point Energy Corp. (NYSE:CPGGet Rating) (TSE:CPG) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 484,476 shares of the oil and gas producer’s stock, valued at approximately $3,510,000. Waratah Capital Advisors Ltd. owned about 0.08% of Crescent Point Energy as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Intelligence Driven Advisers LLC bought a new position in shares of Crescent Point Energy during the fourth quarter valued at approximately $65,000. First Trust Advisors LP bought a new position in Crescent Point Energy in the fourth quarter worth $70,000. Woodward Diversified Capital LLC raised its holdings in Crescent Point Energy by 40.0% in the first quarter. Woodward Diversified Capital LLC now owns 14,000 shares of the oil and gas producer’s stock worth $102,000 after purchasing an additional 4,000 shares in the last quarter. HFG Advisors Inc. bought a new position in Crescent Point Energy in the first quarter worth $109,000. Finally, Signaturefd LLC raised its holdings in Crescent Point Energy by 17.0% in the first quarter. Signaturefd LLC now owns 16,221 shares of the oil and gas producer’s stock worth $118,000 after purchasing an additional 2,357 shares in the last quarter. Institutional investors own 42.19% of the company’s stock.

Crescent Point Energy Stock Performance

CPG stock traded up $0.35 during trading on Friday, reaching $7.03. The stock had a trading volume of 12,448,176 shares, compared to its average volume of 12,963,682. Crescent Point Energy Corp. has a 52 week low of $2.75 and a 52 week high of $10.96. The stock’s 50 day moving average is $7.89 and its two-hundred day moving average is $7.36. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.99 billion, a PE ratio of 3.04 and a beta of 2.26.

Crescent Point Energy (NYSE:CPGGet Rating) (TSE:CPG) last posted its earnings results on Thursday, May 12th. The oil and gas producer reported $0.32 earnings per share for the quarter. Crescent Point Energy had a return on equity of 13.55% and a net margin of 42.33%. The company had revenue of $772.43 million for the quarter. As a group, equities analysts anticipate that Crescent Point Energy Corp. will post 2.71 earnings per share for the current year.

Crescent Point Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be paid a $0.062 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.25 annualized dividend and a dividend yield of 3.53%. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.02. Crescent Point Energy’s dividend payout ratio (DPR) is 9.09%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Scotiabank upgraded Crescent Point Energy from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, June 8th. CIBC increased their target price on Crescent Point Energy from C$13.50 to C$16.00 in a research note on Wednesday, June 15th. Stifel Nicolaus increased their target price on Crescent Point Energy from C$15.50 to C$17.00 in a research note on Thursday, June 30th. Finally, National Bank Financial cut their target price on Crescent Point Energy from C$21.00 to C$20.00 in a research note on Thursday, July 28th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $15.00.

Crescent Point Energy Company Profile

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Crescent Point Energy Corp. explores, develops, and produces light and medium crude oil, natural gas liquids, and natural gas reserves in Western Canada and the United States. It'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 and Montana.

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

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