Crescent Point Energy (NYSE:CPG) Hits New 12-Month High at $8.90

Shares of Crescent Point Energy Corp. (NYSE:CPG - Get Free Report) TSE: CPG hit a new 52-week high during trading on Tuesday . The stock traded as high as $8.90 and last traded at $8.90, with a volume of 419357 shares. The stock had previously closed at $8.80.

Crescent Point Energy Stock Performance

The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 12.61 and a beta of 2.23. 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's fifty day simple moving average is $7.37 and its 200-day simple moving average is $7.29.

Crescent Point Energy (NYSE:CPG - Get Free Report) TSE: CPG last released its earnings results on Thursday, February 29th. The oil and gas producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.11). The business had revenue of $743.70 million for the quarter, compared to analyst estimates of $752.25 million. Crescent Point Energy had a return on equity of 13.27% and a net margin of 15.40%. Analysts predict that Crescent Point Energy Corp. will post 1.22 EPS for the current year.

Crescent Point Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.086 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Crescent Point Energy's previous quarterly dividend of $0.07. This represents a $0.34 dividend on an annualized basis and a yield of 3.90%. Crescent Point Energy's dividend payout ratio is 48.57%.

Institutional Investors Weigh In On Crescent Point Energy

A number of hedge funds and other institutional investors have recently modified their holdings of CPG. Citigroup Inc. raised its holdings in shares of Crescent Point Energy by 15.0% in the 1st quarter. Citigroup Inc. now owns 172,959 shares of the oil and gas producer's stock valued at $1,254,000 after purchasing an additional 22,571 shares in the last quarter. PNC Financial Services Group Inc. purchased a new position in shares of Crescent Point Energy in the 1st quarter valued at $50,000. BlackRock Inc. grew its position in shares of Crescent Point Energy by 22.4% in the 1st quarter. BlackRock Inc. now owns 372,962 shares of the oil and gas producer's stock valued at $2,704,000 after buying an additional 68,277 shares during the last quarter. Great West Life Assurance Co. Can grew its position in shares of Crescent Point Energy by 25.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 85,590 shares of the oil and gas producer's stock valued at $661,000 after buying an additional 17,533 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Crescent Point Energy by 76.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,549,782 shares of the oil and gas producer's stock valued at $32,986,000 after buying an additional 1,965,940 shares during the last quarter. 49.37% of the stock is currently owned by institutional investors and hedge funds.

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.