NewGen Asset Management Ltd Acquires Shares of 1,675,000 Crescent Point Energy Corp. (NYSE:CPG)

NewGen Asset Management Ltd acquired a new stake in shares of Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,675,000 shares of the oil and gas producer’s stock, valued at approximately $11,608,000. Crescent Point Energy comprises 6.0% of NewGen Asset Management Ltd’s portfolio, making the stock its 7th largest holding. NewGen Asset Management Ltd owned approximately 0.27% of Crescent Point Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in 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 valued at $156,778,000 after acquiring an additional 217,234 shares during the last quarter. American Century Companies Inc. increased its position in Crescent Point Energy by 12.1% during the third quarter. American Century Companies Inc. now owns 3,585,348 shares of the oil and gas producer’s stock valued at $29,723,000 after acquiring an additional 387,650 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Crescent Point Energy by 7.3% during the third quarter. The Manufacturers Life Insurance Company now owns 3,181,597 shares of the oil and gas producer’s stock valued at $26,564,000 after acquiring an additional 216,250 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Crescent Point Energy by 2.1% in the third quarter. Invesco Ltd. now owns 5,309,589 shares of the oil and gas producer’s stock worth $44,070,000 after purchasing an additional 110,526 shares during the last quarter. Finally, Ninepoint Partners LP grew its holdings in shares of Crescent Point Energy by 100.0% in the third quarter. Ninepoint Partners LP now owns 16,000,000 shares of the oil and gas producer’s stock worth $132,800,000 after purchasing an additional 8,000,000 shares during the last quarter. Institutional investors own 49.37% of the company’s stock.

Crescent Point Energy Trading Down 0.7 %

Shares of NYSE CPG traded down $0.06 during mid-day trading on Friday, reaching $8.65. The company had a trading volume of 3,522,018 shares, compared to its average volume of 5,840,417. The business’s 50-day moving average is $8.20 and its 200-day moving average is $7.40. 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 cap of $5.36 billion, a price-to-earnings ratio of 12.36 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 (NYSE:CPG) (TSE:CPG) last posted its quarterly earnings results on Thursday, February 29th. The oil and gas producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.11). The company had revenue of $743.70 million during the quarter, compared to the consensus estimate of $752.25 million. Crescent Point Energy had a return on equity of 13.27% and a net margin of 15.40%. Equities analysts expect that Crescent Point Energy Corp. will post 1.17 earnings per share for the current year.

Crescent Point Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a $0.086 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Crescent Point Energy’s previous quarterly dividend of $0.07. This represents a $0.34 dividend on an annualized basis and a dividend yield of 3.98%. Crescent Point Energy’s dividend payout ratio is presently 48.57%.

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.