Franklin Mutual Advisers LLC has recently announced that it has increased stake in Crescent Point Energy Corp (NYSE:CPG) by 11.95%. After grabbing 24.52 million shares, the institutional investor is now in possession of 2.62 million shares of the Energy Company. The new investment brought the stake of investor firm to 4.57% having worth around $172.65 million. Moreover, Ninepoint Partners LP increased its share by 8.0 million to have a control over 16.0 million shares. And The Vanguard Group, Inc. raised its holdings to 93281.0 shares by acquiring 12.96 million shares or 2.42% of the stake.
Crescent Point Energy Corp (CPG) concluded trading on 01/04/24 at a closing price of $6.86, with 4.29 million shares of worth about $29.41 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 4.81% during that period and on Thursday the price saw a loss of about -2.42%. Currently the company’s common shares owned by public are about 626.55M shares, out of which, 622.93M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 15 analysts are covering the CPG stock and their offered price forecasts bring an average price target of $14.26. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $19.00 and could fall to a lowest price of $12.00. The stock’s current price level is 35.77% above of average price target set by the analysts, while a rise to estimated low would result in gain of 42.83% for the stock. However, touching the estimated high of $19.00 would mean a gain of 63.89% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 240 times over the past 12 months. They bought 23,895,744 shares in 186 of the transactions. In 54 selling transactions, insiders dumped 23,303,305 shares.
Franklin Small Cap Value Fund, DFA International Small Cap Value, and Ninepoint Energy Fund are the top 3 mutual funds which are holding stakes in Crescent Point Energy Corp Franklin Small Cap Value Fund is currently holding 17.19 million shares of worth totaling $120.98 million. The company recently came buying 0.32 million shares which brought its stake up to 3.21% of the company’s outstanding shares. DFA International Small Cap Value bought 14251.0 shares, after which its hold over company’s outstanding shares expand to 2.01%, leaving 10.79 million shares with the mutual fund that have a worth of about $75.94 million. Ninepoint Energy Fund, after buying 8.0 million shares, have now control over 1.49% of the stake in the company. It holds 8.0 million shares of worth $56.32 million.
Crescent Point Energy Corp (NYSE: CPG) started trading at $7.10, above $0.07 from concluding price of the previous day. However, the stock later moved at a day high price of 7.10, or with a loss of -2.42%. Stock saw a price change of -3.24% in past 5 days and over the past one month there was a price change of -0.87%. Year-to-date (YTD), CPG shares are showing a performance of -1.01% which increased to 5.96% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $5.56 but also hit the highest price of $8.57 during that period. The average intraday trading volume for Crescent Point Energy Corp shares is 4.32 million. The stock is currently trading 0.27% above its 20-day simple moving average (SMA20), while that difference is down -4.31% for SMA50 and it goes to -6.95% lower than SMA200.
Franklin Mutual Advisers LLC acquired 24.52 million shares of Crescent Point Energy Corp having value of about $172.65 million. Data submitted at the U.S SEC by Franklin Mutual Advisers LLC revealed that the firm now holds 2.62 million shares in the company valued at close to $17958156.02, or have control over 11.95% stake in the company. Crescent Point Energy Corp (NYSE: CPG) currently have 626.55M outstanding shares and institutions hold larger chunk of about 33.33% of that. Holding of mutual funds in the company is about 14.76% while other institutional holders and individual stake holders have control over 24.10% and — of the stake respectively.
The stock has a current market capitalization of $4.30B and its 3Y-monthly beta is at 2.24. It has posted earnings per share of -$1.21 in the same period. It has Quick Ratio of 1.29 while making debt-to-equity ratio of 0.54. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CPG, volatility over the week remained 2.42% while standing at 2.51% over the month.
Analysts are in expectations that Crescent Point Energy Corp (CPG) stock would likely to be making an EPS of $Procter & Gamble Company (The) in the current quarter, while forecast for next quarter EPS is $148.65 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $ConAgra Brands, Inc. which is $Dorian LPG Ltd. at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Chipotle Mexican Grill, Inc. in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -110.29% while it is estimated to increase by 663.02% in next year.
Analysts at 15 brokerage firms have issued recommendations for the Crescent Point Energy Corp (CPG)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.27. Out of those 15 Wall Street analysts, 12 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
