First Trust Advisors LP Buys 706,738 Shares of Crescent Point Energy Corp. (NYSE:CPG)

Posted by Defense World Staff on Mar 10th, 2023

First Trust Advisors LP boosted its stake in Crescent Point Energy Corp. (NYSE:CPG – Get Rating) (TSE:CPG) by 31.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,973,431 shares of the oil and gas producer’s stock after purchasing an additional 706,738 shares during the quarter. First Trust Advisors LP owned about 0.53% of Crescent Point Energy worth $18,304,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in Crescent Point Energy by 294.0% in the first quarter. Renaissance Technologies LLC now owns 6,350,887 shares of the oil and gas producer’s stock valued at $46,064,000 after acquiring an additional 4,739,152 shares during the period. Goldman Sachs Group Inc. grew its stake in Crescent Point Energy by 243.8% in the second quarter. Goldman Sachs Group Inc. now owns 2,837,663 shares of the oil and gas producer’s stock valued at $20,204,000 after acquiring an additional 2,012,265 shares during the period. Dimensional Fund Advisors LP grew its stake in Crescent Point Energy by 76.1% in the first quarter. Dimensional Fund Advisors LP now owns 4,549,782 shares of the oil and gas producer’s stock valued at $32,986,000 after acquiring an additional 1,965,940 shares during the period. Allianz Asset Management GmbH acquired a new position in Crescent Point Energy in the first quarter valued at about $11,746,000. Finally, Bank of Montreal Can grew its stake in Crescent Point Energy by 11.4% in the third quarter. Bank of Montreal Can now owns 12,754,302 shares of the oil and gas producer’s stock valued at $78,610,000 after acquiring an additional 1,305,895 shares during the period. Institutional investors own 32.71% of the company’s stock.

Crescent Point Energy Stock Performance

Shares of NYSE CPG opened at $6.90 on Friday. The stock has a 50 day moving average price of $7.09 and a 200 day moving average price of $7.23. Crescent Point Energy Corp. has a 52 week low of $5.51 and a 52 week high of $10.96. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $3.79 billion, a PE ratio of 3.42 and a beta of 2.22.

Analyst Upgrades and Downgrades

CPG has been the subject of several recent research reports. StockNews.com cut Crescent Point Energy from a “buy” rating to a “hold” rating in a research report on Friday, March 3rd. National Bank Financial reduced their price objective on Crescent Point Energy from C$17.00 to C$15.00 in a research 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 research report on Monday, December 12th. CIBC reduced their price objective on Crescent Point Energy from C$16.00 to C$15.00 in a research report on Tuesday, January 17th. Finally, Scotiabank reduced their price objective on Crescent Point Energy from C$15.00 to C$13.00 in a research report on Tuesday, January 17th.

Crescent Point Energy Profile

(Get Rating)

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.