Crescent Point Energy Corp. (NYSE:CPG) Shares Bought by Prudential PLC

Posted by Defense World Staff on May 19th, 2023

Prudential PLC increased its stake in Crescent Point Energy Corp. (NYSE:CPG – Get Rating) (TSE:CPG) by 40.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,627 shares of the oil and gas producer’s stock after acquiring an additional 19,236 shares during the period. Prudential PLC’s holdings in Crescent Point Energy were worth $475,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CPG. Wipfli Financial Advisors LLC acquired a new position in shares of Crescent Point Energy in the 3rd quarter valued at $31,000. PNC Financial Services Group Inc. purchased a new position in shares of Crescent Point Energy in the 1st quarter worth $50,000. Lazard Asset Management LLC acquired a new position in Crescent Point Energy in the first quarter valued at $62,000. Ronald Blue Trust Inc. grew its position in Crescent Point Energy by 61.9% during the fourth quarter. Ronald Blue Trust Inc. now owns 10,866 shares of the oil and gas producer’s stock valued at $67,000 after acquiring an additional 4,156 shares during the period. Finally, Creative Planning acquired a new stake in Crescent Point Energy during the second quarter worth about $81,000. 32.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CPG has been the subject of a number of research reports. StockNews.com initiated coverage on Crescent Point Energy in a report on Thursday. They set a “hold” rating for the company. Raymond James upgraded shares of Crescent Point Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 22nd.

Crescent Point Energy Price Performance

CPG stock opened at $6.72 on Friday. The firm has a market cap of $3.65 billion, a P/E ratio of 9.46 and a beta of 2.22. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.67. Crescent Point Energy Corp. has a 1 year low of $5.51 and a 1 year high of $10.96. The stock has a 50-day simple moving average of $6.99 and a 200-day simple moving average of $7.18.

Crescent Point Energy (NYSE:CPG – Get Rating) (TSE:CPG) last posted its quarterly earnings data on Thursday, March 2nd. The oil and gas producer reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The firm had revenue of $748.85 million for the quarter. Crescent Point Energy had a net margin of 12.59% and a return on equity of 13.81%. On average, equities analysts predict that Crescent Point Energy Corp. will post 1.21 earnings per share for the current fiscal year.

Crescent Point Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 4th. Shareholders of record on Thursday, June 15th will be given a $0.074 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $0.30 dividend on an annualized basis and a yield of 4.40%. Crescent Point Energy’s payout ratio is currently 40.85%.

Crescent Point Energy 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.