Crescent Point Energy said on May 12, 2023 that its board of directors declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Previously, the company paid $0.10 per share.
Shares must be purchased before the ex-div date of June 14, 2023 to qualify for the dividend. Shareholders of record as of June 15, 2023 will receive the payment on July 4, 2023.
At the current share price of $6.74 / share, the stock's dividend yield is 5.93%.
Additionally, the company's dividend payout ratio is 0.28. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 298 funds or institutions reporting positions in Crescent Point Energy. This is an increase of 27 owner(s) or 9.96% in the last quarter. Average portfolio weight of all funds dedicated to CPG is 0.19%, an increase of 13.67%. Total shares owned by institutions increased in the last three months by 10.32% to 241,181K shares. 
The put/call ratio of CPG is 0.29, indicating a bullish outlook.
Analyst Price Forecast Suggests 59.65% Upside
As of May 11, 2023, the average one-year price target for Crescent Point Energy is 10.76. The forecasts range from a low of 9.45 to a high of $14.14. The average price target represents an increase of 59.65% from its latest reported closing price of 6.74.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Crescent Point Energy is 4,005MM. The projected annual non-GAAP EPS is 2.13.
What are Other Shareholders Doing?
Franklin Resources holds 29,571K shares representing 5.41% ownership of the company. In it's prior filing, the firm reported owning 21,548K shares, representing an increase of 27.13%. The firm decreased its portfolio allocation in CPG by 70.93% over the last quarter.
FRVLX - Franklin Small Cap Value Fund holds 15,926K shares representing 2.91% ownership of the company. In it's prior filing, the firm reported owning 18,116K shares, representing a decrease of 13.75%. The firm decreased its portfolio allocation in CPG by 21.38% over the last quarter.
CIBC Asset Management holds 12,758K shares representing 2.33% ownership of the company. In it's prior filing, the firm reported owning 8,772K shares, representing an increase of 31.24%. The firm increased its portfolio allocation in CPG by 35.77% over the last quarter.
Bank Of Montreal holds 12,658K shares representing 2.31% ownership of the company. In it's prior filing, the firm reported owning 12,754K shares, representing a decrease of 0.76%. The firm increased its portfolio allocation in CPG by 15.51% over the last quarter.
Acadian Asset Management holds 12,152K shares representing 2.22% ownership of the company. In it's prior filing, the firm reported owning 15,364K shares, representing a decrease of 26.42%. The firm decreased its portfolio allocation in CPG by 30.39% over the last quarter.
Crescent Point Energy Background Information
(This description is provided by the company.)
Crescent Point Energy Corp. is an oil and gas company based in Calgary, Alberta, Canada. The company focuses primarily on light oil production in southern Saskatchewan and central Alberta. Since inception in 2001, Crescent Point has significantly increased its production.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
