) (TSE :CPG) experienced a substantial decline in short interest throughout the month of march. On March 31, there were 24,220,000 short shares. This is a decrease of 18.8% compared to the total 29,810,000 on March 15. Around 4.4% of the stock is sold short. The days-to-cover is 3.9 days based on an average trading volume 6,190,000.
Crescent Point Energy Stock Performance
Trading hours were Thursday and the stock fell $0.24 to $7.40. The company's shares were traded at a volume of 4,876,126, which is lower than its average of 6,016,475. The company has a $4.05 billion market capitalization, a P/E ratio of 3.66, and a beta value of 2.21. The company's 50-day and 200-day moving averages are $7.03, $7.22 respectively. The company's quick ratio is 0.80, its current ratio is 0.80 and its debt-to equity ratio is 0.14. Recently, a number of big investors bought and sold shares in the company. Renaissance Technologies LLC increased its Crescent Point Energy position by 294.0% in the first quarter. After buying 4,739,152 additional shares in the last quarter, Renaissance Technologies LLC owns 6,350.887 shares worth $46,064,000. CIBC Asset Management Inc increased its position in Crescent Point Energy during the fourth quarter by 109.3%. CIBC Asset Management Inc owns 8,772,474 of the oil and natural gas producer's shares worth $62,599,000, after purchasing an additional 4,581 323 shares in the last quarter. National Bank of Canada FI increased its position in Crescent Point Energy during the first quarter by 194.9%. National Bank of Canada FI owns 6,387 186 shares of oil and gas producer stock, worth $45,074,000, after purchasing an additional 4,220 986 shares in the last quarter. Point72 Asset Management L.P. increased its position in Crescent Point Energy during the fourth quarter by 2,053.3%. Point72 Asset Management L.P. owns now 2,728,200 of the oil producer's shares worth $19 473,000 after purchasing an additional 2,601,500 during the last quarterly. Goldman Sachs Group Inc. grew its stake in Crescent Point Energy shares by 243.8% during the second quarter. Goldman Sachs Group Inc. owns now 2,837.663 shares worth $20,204,000 of the oil producer's stock after buying an additional 2,012,265 in the last quarter. Institutional investors and hedge fund own 32.71% the company's shares.
Analyst Ratings Changes
Recently, several analysts have weighed in. In a report published on Tuesday, 17th January, Scotiabank reduced its price target on Crescent Point Energy shares from C$15.00 down to C$13.00. In a report published on Thursday 16th March, Crescent Point Energy shares were covered. The company was given a rating of 'hold'. National Bank Financial reduced their target price for shares of Crescent Point Energy in a report published on Wednesday, 11th January from C$17.00 down to C$15.00. CIBC lowered its target price for shares of Crescent Point Energy in a report published on Tuesday, 17th January from C$16.00 down to C$15.00.
Crescent Point Energy
Crescent Point Energy Corp. is engaged in the exploration, production, and development of oil and natural gas properties. Viewfield Bakken is one of its focus areas. The company was established on April 20,94 and has its headquarters in Calgary, Canada.
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