The Manufacturers Life Insurance Company Cuts Position in Crescent Point Energy Corp. (NYSE:CPG)

The Manufacturers Life Insurance Company reduced its stake in shares of Crescent Point Energy Corp. (NYSE:CPG – Get Rating) (TSE:CPG) by 17.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,037,968 shares of the oil and gas producer’s stock after selling 624,252 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.55% of Crescent Point Energy worth $21,661,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. First Trust Advisors LP boosted its holdings in Crescent Point Energy by 15.9% during the first quarter. First Trust Advisors LP now owns 15,100 shares of the oil and gas producer’s stock worth $109,000 after buying an additional 2,073 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Crescent Point Energy by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 317,342 shares of the oil and gas producer’s stock worth $2,554,000 after acquiring an additional 2,162 shares in the last quarter. Tacita Capital Inc grew its holdings in shares of Crescent Point Energy by 4.4% in the 3rd quarter. Tacita Capital Inc now owns 52,670 shares of the oil and gas producer’s stock worth $327,000 after acquiring an additional 2,200 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in Crescent Point Energy by 2.4% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 97,800 shares of the oil and gas producer’s stock valued at $697,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Credit Suisse AG increased its stake in Crescent Point Energy by 0.4% in the 3rd quarter. Credit Suisse AG now owns 630,276 shares of the oil and gas producer’s stock valued at $3,883,000 after purchasing an additional 2,388 shares in the last quarter. 32.71% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

CPG has been the topic of several research reports. Raymond James raised Crescent Point Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 22nd. StockNews.com initiated coverage on shares of Crescent Point Energy in a report on Thursday, May 18th. They set a “hold” rating for the company.

Crescent Point Energy Stock Performance

NYSE CPG opened at $7.02 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.15. Crescent Point Energy Corp. has a fifty-two week low of $5.51 and a fifty-two week high of $10.96. The business has a fifty day moving average of $7.07 and a 200-day moving average of $7.03. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 9.88 and a beta of 2.24.

Crescent Point Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 4th. Shareholders of record on Thursday, June 15th will be issued a $0.074 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.30 dividend on an annualized basis and a yield of 4.22%. Crescent Point Energy’s dividend payout ratio (DPR) is 40.85%.

About Crescent Point Energy

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Crescent Point Energy Corp. engages in the exploration, development, and production of oil and gas properties. Its focus areas include: Viewfield Bakken, Flat Lake Torquay, and Shaunavon. The company was founded on April 20, 1994 and is headquartered in Calgary, Canada.

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