Crescent Point Energy (CPG) Cut to Sell at ValuEngine

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

CPG has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Crescent Point Energy from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research note on Friday, December 29th. Raymond James Financial cut 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 set a $17.00 price target on shares of Crescent Point Energy in a research note on Tuesday, October 10th. UBS Group cut shares of Crescent Point Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 14th. Finally, AltaCorp Capital restated a “buy” rating and set a $16.25 price target on shares of Crescent Point Energy in a research note on Monday, January 15th. Two 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’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $13.75.

Shares of Crescent Point Energy (CPG) opened at $7.18 on Friday. The company has a market cap of $3,830.00, a P/E ratio of -8.16, a P/E/G ratio of 6.69 and a beta of 1.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.72 and a current ratio of 0.72. Crescent Point Energy has a 52 week low of $6.42 and a 52 week high of $12.66.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sciencast Management LP lifted its stake in Crescent Point Energy by 26.6% in the 2nd quarter. Sciencast Management LP now owns 15,244 shares of the oil and gas producer’s stock worth $117,000 after purchasing an additional 3,204 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in Crescent Point Energy by 3.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 113,088 shares of the oil and gas producer’s stock worth $865,000 after purchasing an additional 3,407 shares in the last quarter. Van ECK Associates Corp lifted its stake in Crescent Point Energy by 5.3% in the 3rd quarter. Van ECK Associates Corp now owns 114,003 shares of the oil and gas producer’s stock worth $918,000 after purchasing an additional 5,690 shares in the last quarter. Swiss National Bank lifted its stake in Crescent Point Energy by 0.3% in the 3rd quarter. Swiss National Bank now owns 2,103,361 shares of the oil and gas producer’s stock worth $16,896,000 after purchasing an additional 6,400 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Crescent Point Energy by 4.6% in the 4th quarter. Wells Fargo & Company MN now owns 194,184 shares of the oil and gas producer’s stock worth $1,480,000 after purchasing an additional 8,603 shares in the last quarter. Institutional investors and hedge funds own 40.28% 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.

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