Credit Suisse AG Has $3.88 Million Stock Position in Crescent Point Energy Corp. (NYSE:CPG)

Posted by on Mar 2nd, 2023

Credit Suisse AG increased its stake in Crescent Point Energy Corp. (NYSE:CPG – Get Rating) (TSE:CPG) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 630,276 shares of the oil and gas producer’s stock after buying an additional 2,388 shares during the quarter. Credit Suisse AG owned approximately 0.11% of Crescent Point Energy worth $3,883,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of Nova Scotia increased its position in Crescent Point Energy by 0.3% during the second quarter. Bank of Nova Scotia now owns 689,593 shares of the oil and gas producer’s stock worth $4,902,000 after buying an additional 1,965 shares during the last quarter. First Trust Advisors LP lifted its holdings in Crescent Point Energy by 15.9% during the 1st quarter. First Trust Advisors LP now owns 15,100 shares of the oil and gas producer’s stock valued at $109,000 after purchasing an additional 2,073 shares during the last quarter. Private Advisor Group LLC boosted its position in Crescent Point Energy by 10.1% during the third quarter. Private Advisor Group LLC now owns 30,657 shares of the oil and gas producer’s stock worth $189,000 after purchasing an additional 2,804 shares during the period. Wipfli Financial Advisors LLC acquired a new position in shares of Crescent Point Energy in the third quarter valued at $31,000. Finally, Ronald Blue Trust Inc. increased its holdings in shares of Crescent Point Energy by 1,069.0% in the third quarter. Ronald Blue Trust Inc. now owns 6,710 shares of the oil and gas producer’s stock valued at $48,000 after purchasing an additional 6,136 shares during the last quarter. 32.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. National Bank Financial reduced their target price on shares of Crescent Point Energy from C$17.00 to C$15.00 in a report on Wednesday, January 11th. Stifel Nicolaus reduced their price objective on Crescent Point Energy from C$17.00 to C$16.00 in a report on Monday, December 12th. CIBC lowered their target price on Crescent Point Energy from C$16.00 to C$15.00 in a research note on Tuesday, January 17th. Finally, Scotiabank reduced their price target on Crescent Point Energy from C$15.00 to C$13.00 in a research note on Tuesday, January 17th.

Crescent Point Energy Stock Performance

Shares of NYSE:CPG opened at $7.08 on Thursday. Crescent Point Energy Corp. has a 12-month low of $5.51 and a 12-month high of $10.96. The company’s 50 day moving average price is $7.07 and its two-hundred day moving average price is $7.25. The firm has a market cap of $3.89 billion, a PE ratio of 2.49 and a beta of 2.21. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.13.

Crescent Point Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Wednesday, March 15th will be given a dividend of $0.075 per share. The ex-dividend date is Tuesday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 4.24%. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.06. Crescent Point Energy’s dividend payout ratio is currently 10.56%.

Crescent Point Energy Company Profile

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Crescent Point Energy Corp. engages in the exploration, development and production of oil and gas properties. Its focus areas include: Viewfield Bakken, Flat Lake Torquay, and Shaunavon. The company was founded on April 20, 1994 and is headquartered in Calgary, Canada.

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

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