Crescent Point Energy (NYSE:CPG) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Crescent Point Energy (NYSE:CPG) (TSE:CPG) in a report issued on Sunday. The firm set a “hold” rating on the oil and gas producer’s stock.

Separately, BMO Capital Markets raised their price objective on shares of Crescent Point Energy from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.81.

Crescent Point Energy Price Performance

Shares of NYSE:CPG opened at $8.59 on Friday. The firm’s 50 day moving average is $8.54 and its two-hundred day moving average is $7.45. Crescent Point Energy has a 52 week low of $6.03 and a 52 week high of $9.28. The firm has a market capitalization of $5.32 billion, a P/E ratio of -107.36 and a beta of 2.17. The company has a current ratio of 1.03, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Blume Capital Management Inc. boosted its stake in Crescent Point Energy by 75.0% in the 1st quarter. Blume Capital Management Inc. now owns 3,500 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 1,500 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new position in Crescent Point Energy in the 1st quarter worth approximately $41,000. Parallel Advisors LLC boosted its stake in Crescent Point Energy by 224.1% in the 4th quarter. Parallel Advisors LLC now owns 6,378 shares of the oil and gas producer’s stock worth $44,000 after purchasing an additional 4,410 shares during the period. Lindbrook Capital LLC boosted its stake in Crescent Point Energy by 74.5% in the 1st quarter. Lindbrook Capital LLC now owns 8,554 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 3,652 shares during the period. Finally, Blue Trust Inc. boosted its stake in Crescent Point Energy by 48.8% in the 4th quarter. Blue Trust Inc. now owns 10,210 shares of the oil and gas producer’s stock worth $71,000 after purchasing an additional 3,347 shares during the period. Institutional investors and hedge funds own 49.37% of the company’s stock.

About Crescent Point Energy

Crescent Point Energy Corp. explores, develops, and produces oil and gas properties in Canada and the United States. The company focuses on crude oil, tight oil, natural gas liquids, shale gas, and natural gas reserves. Its properties are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota.