Renaissance Technologies LLC Lowers Holdings in Crescent Point Energy (CPG)

Renaissance Technologies LLC lowered its position in shares of Crescent Point Energy (NYSE:CPG) (TSE:CPG) by 41.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 468,817 shares of the oil and gas producer’s stock after selling 336,083 shares during the quarter. Renaissance Technologies LLC owned about 0.09% of Crescent Point Energy worth $3,572,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CIBC Asset Management Inc lifted its position in Crescent Point Energy by 2.7% during the 4th quarter. CIBC Asset Management Inc now owns 9,553,373 shares of the oil and gas producer’s stock worth $73,114,000 after acquiring an additional 247,397 shares during the period. Virtu Financial LLC lifted its position in Crescent Point Energy by 63.1% during the 4th quarter. Virtu Financial LLC now owns 28,546 shares of the oil and gas producer’s stock worth $217,000 after acquiring an additional 11,040 shares during the period. Pinebridge Investments L.P. lifted its position in Crescent Point Energy by 37.7% during the 4th quarter. Pinebridge Investments L.P. now owns 149,984 shares of the oil and gas producer’s stock worth $1,437,000 after acquiring an additional 41,072 shares during the period. Bank of New York Mellon Corp lifted its position in Crescent Point Energy by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 623,364 shares of the oil and gas producer’s stock worth $4,750,000 after acquiring an additional 12,588 shares during the period. Finally, Capital Management Associates NY acquired a new stake in Crescent Point Energy during the 4th quarter worth about $472,000. 40.17% of the stock is owned by institutional investors.

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Several brokerages have recently issued reports on CPG. Zacks Investment Research raised Crescent Point Energy from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a report on Friday, December 29th. AltaCorp Capital reissued a “buy” rating and issued a $16.25 price objective on shares of Crescent Point Energy in a report on Monday, January 15th. Finally, ValuEngine cut Crescent Point Energy from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Crescent Point Energy presently has a consensus rating of “Hold” and an average target price of $13.69.

Shares of CPG stock opened at $8.44 on Friday. The stock has a market capitalization of $4,628.34, a PE ratio of 60.29 and a beta of 1.51. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.44. Crescent Point Energy has a 52-week low of $6.40 and a 52-week high of $10.17.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last issued its quarterly earnings data on Thursday, March 1st. The oil and gas producer reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.13). The company had revenue of $721.29 million during the quarter, compared to analyst estimates of $691.70 million. Crescent Point Energy had a negative net margin of 4.23% and a positive return on equity of 1.04%. During the same period last year, the firm earned $0.18 EPS. equities research analysts expect that Crescent Point Energy will post 0.35 earnings per share for the current fiscal year.

The business also recently disclosed a dividend, which was paid on Monday, April 16th. Stockholders of record on Saturday, March 31st were issued a $0.023 dividend. The ex-dividend date of this dividend was Wednesday, March 28th. Crescent Point Energy’s dividend payout ratio (DPR) is presently 200.00%.

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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, and Utah.

Institutional Ownership by Quarter for Crescent Point Energy (NYSE:CPG)

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