BMO Asset Management, Inc. recently announced the acquisition of new stake in Crescent Point Energy Corp. (NYSE:CPG). The institutional investor has increased its shareholding in the Energy company by 119.44% to 15.57 million shares with purchase of 8.48 million shares. This fresh investment now brings its stake to 2.94% valued currently at $23.98 million. In addition, Connor, Clark & Lunn Investment M.. raised its holdings by 4.16 million to 13.3 million shares. And CIBC Asset Management, Inc. has lifted its position by 80.58% or 2.85 million shares – to 6.38 million shares.
With over 2.55 million Crescent Point Energy Corp. (CPG) shares trading Tuesday and a closing price of $1.75 on the day, the dollar volume was approximately $4.46 million. The shares have shown a negative weekly performance of -6.91% and its price on 09/01/20 lost nearly 0.00%. Currently, there are 529.30M common shares owned by the public and among those 528.70M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for CPG have a consensus price objective of $2.15. The analysts have set the share’s price value over the next 12 months at a high of $2.69 and a low of $1.50 should the stock experience a downside. Incidentally, analysts’ outlook for the Crescent Point Energy Corp. stock is 3.00 for the next 12 months. But an upside of 34.94% will see the stock hit the forecast high price target while mean target price for the stock is $2.11.
The top 3 mutual fund holders in Crescent Point Energy Corp. are Franklin Small Cap Value Fund, Vanguard Total International Stoc, and Government Pension Fund – Global. Franklin Small Cap Value Fund owns 12.32 million shares of the company’s stock, all valued at over $18.97 million. Vanguard Total International Stoc sold -0.26 million shares to see its total holdings shrink to 9.21 million shares valued at over $14.18 million and representing 1.74% of the shares outstanding. Government Pension Fund – Global bought 0.35 million shares to bring its total holdings to over 7.23 million shares at a value of $11.13 million. Government Pension Fund – Global now owns shares totaling to 1.37% of the shares outstanding.
Shares of Crescent Point Energy Corp. (NYSE: CPG) opened at $1.75, unchanged from a prior closing price of $1.75. However, the script later closed the day at $1.75, down 0.00%. The company’s stock has a 5-day price change of -6.91% and -2.78% over the past three months. CPG shares are trading -60.85% year to date (YTD), with the 12-month market performance down to -47.76% lower. It has a 12-month low price of $0.51 and touched a high of $4.84 over the same period. Currently, 2.55 million shares have been traded, compared to an average intraday trading volume of 2.30 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.77%, 1.73%, and -23.42% respectively.
Institutional ownership of Crescent Point Energy Corp. (NYSE: CPG) shares accounts for 43.69% of the company’s 529.30M shares outstanding. Mutual fund holders own 24.95%, while other institutional holders and individual stakeholders account for 6.70% and — respectively.
It has a market capitalization of $926.28M. The earnings-per-share (ttm) stands at -$0.39. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.42% over the week and 5.74% over the month.
Analysts forecast that Crescent Point Energy Corp. (CPG) will achieve an EPS of $0 for the current quarter, -$0.01 for the next quarter and $0.16 for 2019. The lowest estimate earnings-per-share for the quarter is -$0.03 while analysts give the company a high EPS estimate of $0.03. Comparatively, EPS for the current quarter was $0.17 a year ago. Earnings per share for the fiscal year are expected to increase by 81.90%, and 115.40% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate Crescent Point Energy Corp. (CPG) as a “Hold” at a consensus score of 3.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 11 of the 16 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the CPG, a number of firms have released research notes about the stock. Scotiabank stated their Sector Perform rating for the stock in a research note on June 15, 2020, with the firm’s price target at. Tudor Pickering coverage for the Crescent Point Energy Corp. (CPG) stock in a research note released on March 25, 2020 offered a Hold rating with a price target of. BMO Capital Markets was of a view on March 16, 2020 that the stock is Market Perform, while BMO Capital Markets gave the stock Outperform rating on September 16, 2019, issuing a price target of. CIBC on their part issued Sector Outperform rating on May 10, 2019.