Goldman Sachs Group Inc. Purchases 8,709,962 Shares of Crescent Point Energy Corp. (NYSE:CPG)

Goldman Sachs Group Inc. lifted its position in shares of Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) by 1,534.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,277,441 shares of the oil and gas producer’s stock after purchasing an additional 8,709,962 shares during the quarter. Goldman Sachs Group Inc. owned 1.50% of Crescent Point Energy worth $64,293,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Riverstone Holdings LLC acquired a new stake in shares of Crescent Point Energy during the fourth quarter worth $289,379,000. Franklin Resources Inc. raised its holdings in shares of Crescent Point Energy by 5.0% during the fourth quarter. Franklin Resources Inc. now owns 25,945,226 shares of the oil and gas producer’s stock worth $179,949,000 after acquiring an additional 1,229,117 shares during the period. Ninepoint Partners LP raised its holdings 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 acquiring an additional 3,000,000 shares during the period. Vanguard Group Inc. raised its holdings in shares of Crescent Point Energy by 1.2% during the third quarter. Vanguard Group Inc. now owns 18,888,969 shares of the oil and gas producer’s stock worth $156,778,000 after acquiring an additional 217,234 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in shares of Crescent Point Energy by 14.4% during the fourth quarter. CIBC Asset Management Inc now owns 12,213,750 shares of the oil and gas producer’s stock worth $84,981,000 after acquiring an additional 1,537,494 shares during the period. 49.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CPG. BMO Capital Markets raised their price objective on shares of Crescent Point Energy from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. StockNews.com began coverage on shares of Crescent Point Energy in a research note on Sunday. They issued a “hold” rating on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.81.

Crescent Point Energy Stock Down 0.1 %

Shares of CPG stock opened at $8.59 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Crescent Point Energy Corp. has a 1 year low of $6.03 and a 1 year high of $9.28. The firm’s fifty day moving average price is $8.54 and its two-hundred day moving average price is $7.45. The firm has a market capitalization of $5.32 billion, a P/E ratio of -107.36 and a beta of 2.17.

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 given a $0.083 dividend. This represents a $0.33 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend is Friday, June 14th. Crescent Point Energy’s dividend payout ratio (DPR) is presently -424.95%.

Crescent Point Energy Company 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.