Crescent Point Energy (NYSE:CPG) Sees Unusually-High Trading Volume

Shares of Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) saw an uptick in trading volume on Thursday . 1,964,267 shares were traded during mid-day trading, a decline of 66% from the previous session’s volume of 5,703,201 shares.The stock last traded at $8.88 and had previously closed at $8.76.

Crescent Point Energy Stock Performance

The company’s fifty day simple moving average is $7.46 and its 200 day simple moving average is $7.31. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $5.52 billion, a P/E ratio of 12.52 and a beta of 2.23.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last announced its quarterly earnings results on Thursday, February 29th. The oil and gas producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.11). Crescent Point Energy had a net margin of 15.40% and a return on equity of 13.27%. The firm had revenue of $743.70 million during the quarter, compared to the consensus estimate of $752.25 million. As a group, sell-side analysts forecast that Crescent Point Energy Corp. will post 1.22 earnings per share for the current fiscal year.

Crescent Point Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.086 dividend. This represents a $0.34 annualized dividend and a yield of 3.87%. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Thursday, March 14th. Crescent Point Energy’s dividend payout ratio (DPR) is presently 48.57%.

Institutional Trading of Crescent Point Energy

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Baird Financial Group Inc. raised its position in shares of Crescent Point Energy by 0.8% during the 2nd quarter. Baird Financial Group Inc. now owns 173,063 shares of the oil and gas producer’s stock valued at $1,165,000 after buying an additional 1,365 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Crescent Point Energy by 3.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 47,003 shares of the oil and gas producer’s stock valued at $326,000 after buying an additional 1,674 shares in the last quarter. Ronald Blue Trust Inc. raised its position in shares of Crescent Point Energy by 33.6% during the 3rd quarter. Ronald Blue Trust Inc. now owns 6,863 shares of the oil and gas producer’s stock valued at $57,000 after buying an additional 1,727 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Crescent Point Energy by 14.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 14,662 shares of the oil and gas producer’s stock valued at $122,000 after buying an additional 1,878 shares in the last quarter. Finally, Penbrook Management LLC raised its position in shares of Crescent Point Energy by 0.4% during the 4th quarter. Penbrook Management LLC now owns 501,060 shares of the oil and gas producer’s stock valued at $3,493,000 after buying an additional 1,900 shares in the last quarter. Hedge funds and other institutional investors own 49.37% of the company’s stock.

About Crescent Point Energy

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.