Intact Investment Management Inc. cut its stake in Crescent Point Energy Corp (NYSE:CPG) (TSE:CPG) by 60.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 837,300 shares of the oil and gas producer’s stock after selling 1,262,100 shares during the period. Intact Investment Management Inc.’s holdings in Crescent Point Energy were worth $4,840,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Pacifica Partners Inc. purchased a new stake in Crescent Point Energy in the 4th quarter valued at $38,000. Squarepoint Ops LLC bought a new position in shares of Crescent Point Energy in the 3rd quarter worth $52,000. Blueshift Asset Management LLC bought a new position in shares of Crescent Point Energy in the 4th quarter worth $68,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Crescent Point Energy by 16,621.3% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 25,918 shares of the oil and gas producer’s stock worth $116,000 after purchasing an additional 25,763 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. bought a new position in shares of Crescent Point Energy in the 4th quarter worth $137,000. Institutional investors and hedge funds own 38.42% of the company’s stock.
A number of equities research analysts recently commented on CPG shares. Tudor Pickering lowered Crescent Point Energy from a “buy” rating to a “hold” rating in a research report on Wednesday. Canaccord Genuity lowered Crescent Point Energy to a “buy” rating in a research report on Tuesday, March 10th. Raymond James lowered Crescent Point Energy to a “sell” rating and set a $1.25 price target for the company. in a research report on Thursday, March 12th. Zacks Investment Research lowered Crescent Point Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Finally, BMO Capital Markets lowered Crescent Point Energy from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $5.64.
Shares of NYSE:CPG traded up $0.05 on Thursday, reaching $0.78. The company had a trading volume of 4,440 shares, compared to its average volume of 3,102,724. Crescent Point Energy Corp has a 52-week low of $0.51 and a 52-week high of $4.84. The firm’s 50 day simple moving average is $2.23 and its 200-day simple moving average is $3.56. The firm has a market capitalization of $386.41 million, a PE ratio of -0.53 and a beta of 1.30. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.53.
Crescent Point Energy Company 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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