Franklin Mutual Advisers LLC 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 11.95% to 24.52 million shares with purchase of 2.62 million shares. This fresh investment now brings its stake to 3.91% valued currently at $169.95 million. In addition, Ninepoint Partners LP raised its holdings by 8.0 million to 16.0 million shares. And The Vanguard Group, Inc. has lifted its position by 0.73% or 93281.0 shares – to 12.96 million shares.
Currently, there are 626.55M common shares owned by the public and among those 592.62M shares have been available to trade.
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Insiders at the company have transacted a total of 230 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 179 of these insider trades were purchases, accounting for 23,135,944 shares. Insider sales of the common stock occurred on 51 occasions, with total insider shares sold totaling 21,901,405 shares.
The top 3 mutual fund holders in Crescent Point Energy Corp are Franklin Small Cap Value Fund, DFA International Small Cap Value, and Ninepoint Energy Fund. Franklin Small Cap Value Fund owns 17.19 million shares of the company’s stock, all valued at over $119.09 million. The company bought an additional 0.32 million shares recently to bring their total holdings to about 2.74% of the shares outstanding. DFA International Small Cap Value sold 8714.0 shares to see its total holdings shrink to 10.78 million shares valued at over $74.69 million and representing 1.72% of the shares outstanding. Ninepoint Energy Fund bought 8.0 million shares to bring its total holdings to over 8.0 million shares at a value of $55.44 million. Ninepoint Energy Fund now owns shares totaling to 1.28% of the shares outstanding.
However, the script later moved the day high at 6.50, down -0.31%. The company’s stock has a 5-day price change of -0.62% and -22.64% over the past three months. CPG shares are trading -7.65% year to date (YTD), with the 12-month market performance down to -12.05% lower. It has a 12-month low price of $5.56 and touched a high of $8.57 over the same period. CPG has an average intraday trading volume of 4.53 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 -5.32%, -6.37%, and -13.08% respectively.
Institutional ownership of Crescent Point Energy Corp (NYSE: CPG) shares accounts for 33.36% of the company’s 626.55M shares outstanding. Mutual fund holders own 12.48%, while other institutional holders and individual stakeholders account for 21.03% and — respectively.
It has a market capitalization of $4.01B and a beta (3y monthly) value of 2.24. The earnings-per-share (ttm) stands at -$1.21. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.02% over the week and 2.31% over the month.
Analysts forecast that Crescent Point Energy Corp (CPG) will achieve an EPS of $0.27 for the current quarter, $0.21 for the next quarter and $0.97 for 2024. The lowest estimate earnings-per-share for the quarter is $0.22 while analysts give the company a high EPS estimate of $0.31. Comparatively, EPS for the current quarter was -$0.67 a year ago. Earnings per share for the fiscal year are expected to decrease by -113.05%, and 494.02% over the next financial year.
