Crescent Point Energy Corp. (NYSE:CPG) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund cut its stake in shares of Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) by 30.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 900,000 shares of the oil and gas producer’s stock after selling 400,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.15% of Crescent Point Energy worth $6,246,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CPG. Riverstone Holdings LLC acquired a new position in shares of Crescent Point Energy during the fourth quarter worth about $289,379,000. Goldman Sachs Group Inc. grew its position in shares of Crescent Point Energy by 1,534.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 9,277,441 shares of the oil and gas producer’s stock worth $64,293,000 after buying an additional 8,709,962 shares in the last quarter. Ninepoint Partners LP grew its position in shares of Crescent Point Energy by 18.8% during the fourth quarter. Ninepoint Partners LP now owns 19,000,000 shares of the oil and gas producer’s stock worth $131,670,000 after buying an additional 3,000,000 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Crescent Point Energy during the fourth quarter worth about $11,663,000. Finally, HarbourVest Partners LLC acquired a new position in shares of Crescent Point Energy during the fourth quarter worth about $11,620,000. 49.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CPG shares. StockNews.com started coverage on Crescent Point Energy in a report on Sunday. They issued a “hold” rating for the company. BMO Capital Markets upped their price target on Crescent Point Energy from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Crescent Point Energy currently has a consensus rating of “Moderate Buy” and an average target price of $13.81.

Crescent Point Energy Stock Performance

Shares of CPG opened at $8.59 on Tuesday. The stock has a 50 day moving average price of $8.54 and a 200 day moving average price of $7.45. The company has a quick ratio of 0.76, a current ratio of 1.03 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of -107.36 and a beta of 2.17. Crescent Point Energy Corp. has a 52-week low of $6.03 and a 52-week high of $9.28.

Crescent Point Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Saturday, June 15th will be issued a $0.083 dividend. This represents a $0.33 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Friday, June 14th. Crescent Point Energy’s payout ratio is currently -424.95%.

Crescent Point Energy Profile

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.