Crescent Point Energy Corporation (CPG) : Traders are bullish on Crescent Point Energy Corporation (CPG) as it has outperformed the S&P 500 by a wide margin of 4.08% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 7.24%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 7.3% in the last 1 week, and is up 5.16% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 8.12% and the 50-Day Moving Average is 4.03%. Crescent Point Energy Corporation (NYSE:CPG): stock turned positive on Friday. Though the stock opened at $15.97, the bulls momentum made the stock top out at $16.375 level for the day. The stock recorded a low of $15.85 and closed the trading day at $16.31, in the green by 2.58%. The total traded volume for the day was 930,182. The stock had closed at $15.9 in the previous days trading.
Institutional Investors own 40.05% of Crescent Point Energy Corporation shares. Also, Barclays upgrades their rating on the shares of Crescent Point Energy Corporation (NYSE:CPG). The current rating of the shares is Overweight. Earlier, the shares were rated a Equal-weight by the brokerage firm. Equity Analysts at the Firm raises the price target to $28 per share from $23 per share. The rating by the firm was issued on July 22, 2016.