Trade Report: Today, State of Wisconsin Investment Board Buys 85,800 Shares of Crescent Point Energy Corp. (CPG)

Today, State of Wisconsin Investment Board Buys 85,800 Shares of Crescent Point Energy Corp. (CPG)

State of Wisconsin Investment Board raised its position in shares of Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) by 25.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 419,411 shares of the company’s stock after buying an additional 85,800 shares during the period. State of Wisconsin Investment Board owned approximately 0.08% of Crescent Point Energy Corp. worth $5,521,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Crescent Point Energy Corp. by 1.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,463,497 shares of the company’s stock worth $23,014,000 after buying an additional 21,292 shares during the period. Legal & General Group Plc increased its position in shares of Crescent Point Energy Corp. by 9.3% in the first quarter. Legal & General Group Plc now owns 2,228,794 shares of the company’s stock worth $30,984,000 after buying an additional 188,882 shares during the period. Sprott Inc. increased its position in shares of Crescent Point Energy Corp. by 127.4% in the second quarter. Sprott Inc. now owns 455,140 shares of the company’s stock worth $7,187,000 after buying an additional 255,000 shares during the period. Sentry Investments Corp. increased its position in shares of Crescent Point Energy Corp. by 243.1% in the second quarter. Sentry Investments Corp. now owns 4,413,687 shares of the company’s stock worth $90,083,000 after buying an additional 3,127,100 shares during the period. Finally, British Columbia Investment Management Corp increased its position in shares of Crescent Point Energy Corp. by 3.9% in the second quarter. British Columbia Investment Management Corp now owns 77,294 shares of the company’s stock worth $940,000 after buying an additional 2,900 shares during the period. 38.00% of the stock is owned by hedge funds and other institutional investors.

Shares of Crescent Point Energy Corp. (NYSE:CPG) traded down 3.91% during midday trading on Friday, hitting $11.80. The company had a trading volume of 563,316 shares. The stock’s 50-day moving average price is $12.32 and its 200-day moving average price is $14.64. Crescent Point Energy Corp. has a 12 month low of $7.82 and a 12 month high of $18.95. The company’s market cap is $6.39 billion.

Crescent Point Energy Corp. (NYSE:CPG) last announced its earnings results on Thursday, November 10th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.03. Crescent Point Energy Corp. had a positive return on equity of 2.44% and a negative net margin of 32.46%. On average, equities research analysts forecast that Crescent Point Energy Corp. will post ($0.58) EPS for the current year.

The firm also recently disclosed a dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be issued a dividend of $0.022 per share. The ex-dividend date is Monday, November 28th. Crescent Point Energy Corp.’s dividend payout ratio is presently -22.50%.

CPG has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Crescent Point Energy Corp. from a “buy” rating to a “sell” rating in a report on Wednesday, October 12th. TD Securities reaffirmed a “buy” rating and issued a $28.00 price target (down from $30.00) on shares of Crescent Point Energy Corp. in a report on Friday, September 23rd. Dundee Securities downgraded Crescent Point Energy Corp. from a “buy” rating to a “neutral” rating in a report on Friday, September 9th. RBC Capital Markets reissued a “sector perform” rating and issued a $20.00 price objective (down from $22.00) on shares of Crescent Point Energy Corp. in a report on Friday, November 11th. Finally, National Bank Financial reissued an “outperform” rating on shares of Crescent Point Energy Corp. in a report on Friday, November 11th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $27.88.

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