Bearish Chart Formation for Crescent Point Energy Corporation Ordinary Shares (Canada) (CPG) After Forming Bearish Wedge Down Chart Pattern

July 17, 2017 - By Winifred Garcia

Investors sentiment decreased to 0.85 in Q4 2016. Its down 0.68, from 1.53 in 2016Q3. It fall, as 29 investors sold Crescent Point Energy Corporation Ordinary Shares (Canada) shares while 52 reduced holdings. 14 funds opened positions while 55 raised stakes. 217.82 million shares or 4.58% more from 208.27 million shares in 2016Q3 were reported.
Old Mutual Customised Solutions (Proprietary) holds 0.08% or 32,000 shares in its portfolio. Quantbot Techs L P has 0% invested in Crescent Point Energy Corporation Ordinary Shares (Canada) (NYSE:CPG) for 1,999 shares. Nomura Asset Management Ltd stated it has 6,400 shares. Dekabank Deutsche Girozentrale holds 23,344 shares. Alliancebernstein L P reported 44,637 shares. Gulf International Bancorp (Uk) Ltd holds 0.05% or 165,493 shares. Kanaly invested in 1,000 shares. 83,194 were accumulated by British Columbia Investment Mgmt Corp. Point72 Asset Limited Partnership holds 0.15% of its portfolio in Crescent Point Energy Corporation Ordinary Shares (Canada) (NYSE:CPG) for 1.61 million shares. Tower Research Cap Limited Liability Corporation (Trc) reported 520 shares. Hillsdale Investment Mngmt stated it has 1,400 shares. Aqr Cap Mngmt Limited Liability Corporation owns 315,445 shares or 0.01% of their US portfolio. Nationwide Fund Advsrs reported 37,979 shares stake. Fifth Third Bankshares has invested 0% of its portfolio in Crescent Point Energy Corporation Ordinary Shares (Canada) (NYSE:CPG). Mckinley Capital Mgmt Ltd Liability Delaware invested in 0.02% or 22,223 shares.

The stock of Crescent Point Energy Corporation Ordinary Shares (Canada) (CPG) formed a down wedge with $6.95 target or 4.00 % below today’s $7.24 share price. The 8 months wedge indicates high risk for the $3.97 billion company. If the $6.95 price target is reached, the company will be worth $158.80M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

About 670,251 shares traded. Crescent Point Energy Corporation Ordinary Shares (Canada) (NYSE:CPG) has declined 40.46% since July 17, 2016 and is downtrending. It has underperformed by 57.16% the S&P500.

Analysts await Crescent Point Energy Corporation Ordinary Shares (Canada) (NYSE:CPG) to report earnings on August, 10. They expect $-0.01 EPS, down 150.00 % or $0.03 from last year’s $0.02 per share. After $0.09 actual EPS reported by Crescent Point Energy Corporation Ordinary Shares (Canada) for the previous quarter, Wall Street now forecasts -111.11 % negative EPS growth.

Crescent Point Energy Corporation Ordinary Shares (Canada) (NYSE:CPG) Ratings Coverage

Among 4 analysts covering Crescent Point Energy (NYSE:CPG), 4 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Crescent Point Energy had 7 analyst reports since July 22, 2015 according to SRatingsIntel. Barclays Capital downgraded Crescent Point Energy Corporation Ordinary Shares (Canada) (NYSE:CPG) on Wednesday, July 22 to “Equal Weight” rating. As per Friday, July 22, the company rating was upgraded by Barclays Capital. The firm earned “Neutral” rating on Friday, September 9 by Dundee Securities. UBS downgraded Crescent Point Energy Corporation Ordinary Shares (Canada) (NYSE:CPG) on Friday, August 14 to “Buy” rating. Dundee Securities upgraded the stock to “Buy” rating in Friday, November 11 report. The stock of Crescent Point Energy Corporation Ordinary Shares (Canada) (NYSE:CPG) has “Overweight” rating given on Thursday, October 29 by Barclays Capital.

More recent Crescent Point Energy Corporation Ordinary Shares (Canada) (NYSE:CPG) news were published by: Benzinga.com which released: “Strength In Crescent Point Due To Report Of An Activist Investor” on February 17, 2017. Also Theglobeandmail.com published the news titled: “Crescent Point Energy Corp” on October 08, 2015. Nasdaq.com‘s news article titled: “5 Companies That Consistently Beat Earnings Estimates” with publication date: July 13, 2017 was also an interesting one.

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