Crescent Point Energy (CPG) Downgraded by ValuEngine to “Sell”

Crescent Point Energy (NYSE:CPG) (TSE:CPG) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, February 2nd.

A number of other brokerages have also weighed in on CPG. Raymond James Financial lowered shares of Crescent Point Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, December 14th. UBS Group lowered shares of Crescent Point Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 14th. Scotiabank restated a “buy” rating and issued a $17.00 price objective on shares of Crescent Point Energy in a research note on Tuesday, October 10th. Zacks Investment Research upgraded Crescent Point Energy from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a research note on Friday, December 29th. Finally, Desjardins downgraded shares of Crescent Point Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $13.94.

Shares of Crescent Point Energy (NYSE CPG) opened at $7.14 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.72 and a quick ratio of 0.72. Crescent Point Energy has a 12-month low of $6.42 and a 12-month high of $12.66. The company has a market capitalization of $3,776.90, a P/E ratio of 21.63, a PEG ratio of 6.59 and a beta of 1.52.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Schroder Investment Management Group raised its position in Crescent Point Energy by 104.7% in the 4th quarter. Schroder Investment Management Group now owns 2,551,509 shares of the oil and gas producer’s stock worth $24,443,000 after purchasing an additional 1,305,114 shares during the period. Mackenzie Financial Corp raised its position in Crescent Point Energy by 7.5% in the 3rd quarter. Mackenzie Financial Corp now owns 15,154,711 shares of the oil and gas producer’s stock worth $121,995,000 after purchasing an additional 1,059,760 shares during the period. Intact Investment Management Inc. raised its position in Crescent Point Energy by 46.9% in the 3rd quarter. Intact Investment Management Inc. now owns 3,010,220 shares of the oil and gas producer’s stock worth $30,162,000 after purchasing an additional 960,900 shares during the period. Lincluden Management Ltd. increased its position in shares of Crescent Point Energy by 19.7% during the third quarter. Lincluden Management Ltd. now owns 4,961,747 shares of the oil and gas producer’s stock worth $39,863,000 after acquiring an additional 815,095 shares during the period. Finally, Ninepoint Partners LP increased its position in shares of Crescent Point Energy by 195.7% during the fourth quarter. Ninepoint Partners LP now owns 1,091,000 shares of the oil and gas producer’s stock worth $8,313,000 after acquiring an additional 722,000 shares during the period. Hedge funds and other institutional investors own 39.78% of the company’s stock.

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About Crescent Point Energy

Crescent Point Energy Corp. acquires, explores, develops, and produces light and medium oil and natural gas properties 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, Colorado, and Utah.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Crescent Point Energy (NYSE:CPG)

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