Franklin Mutual Advisers LLC recently announced the acquisition of new stake in Crescent Point Energy Corp. (NYSE:CPG). The institutional investor has increased its shareholding in the Energy company by 17.90% to 25.01 million shares with purchase of 3.8 million shares. This fresh investment now brings its stake to 4.41% valued currently at $195.85 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.14 million to 12.92 million shares. And Acadian Asset Management LLC has lifted its position by 47.92% or 4.07 million shares – to 12.57 million shares.
With over 5.44 million Crescent Point Energy Corp. (CPG) shares trading Tuesday and a closing price of $7.74 on the day, the dollar volume was approximately $42.09 million. The shares have shown a negative half year performance of -12.16% and its price on 11/29/22 gained nearly 1.84%. Currently, there are 563.55M common shares owned by the public and among those 554.38M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for CPG have a consensus price objective of $11.25. The analysts have set the share’s price value over the next 12 months at a high of $13.64 and a low of $9.22. The average price target is 37.12% above its recent price level and an upside to the estimated low will see the stock gain 16.05% over that period. But an upside of 43.26% will see the stock hit the forecast high price target while median target price for the stock is $11.06.
The top 3 mutual fund holders in Crescent Point Energy Corp. are Franklin Small Cap Value Fund, Ninepoint Energy Fund, and DFA International Small Cap Value. Franklin Small Cap Value Fund owns 18.12 million shares of the company’s stock, all valued at over $141.85 million. The company bought an additional 0.72 million shares recently to bring their total holdings to about 3.19% of the shares outstanding. Ninepoint Energy Fund bought 5.0 million shares to see its total holdings expand to 18.0 million shares valued at over $140.94 million and representing 3.17% of the shares outstanding. DFA International Small Cap Value bought 1.02 million shares to bring its total holdings to over 10.01 million shares at a value of $78.4 million. DFA International Small Cap Value now owns shares totaling to 1.76% of the shares outstanding.
Shares of Crescent Point Energy Corp. (NYSE: CPG) opened at $7.76, up $0.16 from a prior closing price of $7.60. However, the script later moved the day high at 7.80, up 1.84%. The company’s stock has a 5-day price change of -0.90% and 1.11% over the past three months. CPG shares are trading 45.42% year to date (YTD), with the 12-month market performance up to 73.34% higher. It has a 12-month low price of $4.05 and touched a high of $10.92 over the same period. CPG has an average intraday trading volume of 12.40 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.98%, 4.91%, and 4.17% respectively.
Institutional ownership of Crescent Point Energy Corp. (NYSE: CPG) shares accounts for 37.71% of the company’s 563.55M shares outstanding. Mutual fund holders own 25.38%, while other institutional holders and individual stakeholders account for 8.42% and — respectively.
It has a market capitalization of $5.85B and a beta (3y monthly) value of 3.06. The stock’s trailing 12-month PE ratio is 2.13, while the earnings-per-share (ttm) stands at $3.63. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.37% over the week and 3.95% over the month.
Analysts forecast that Crescent Point Energy Corp. (CPG) will achieve an EPS of $0.35 for the current quarter, $0.46 for the next quarter and $1.6 for 2023. The lowest estimate earnings-per-share for the quarter is $0.28 while analysts give the company a high EPS estimate of $0.41. Comparatively, EPS for the current quarter was $0.16 a year ago. Earnings per share for the fiscal year are expected to increase by 186.40%, and -41.60% over the next financial year. EPS should shrink at an annualized rate of -4.00% over the next five years, compared to 33.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate Crescent Point Energy Corp. (CPG) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 2 of the 14 advise that investors “hold,” and 0 rated it as a “Sell.”
Canaccord Genuity on their part issued Buy rating on January 07, 2021.