Q1 2024 EPS Estimates for Crescent Point Energy Corp. Lowered by Atb Cap Markets (TSE:CPG)

Crescent Point Energy Corp. (TSE:CPG) (NYSE:CPG) – Investment analysts at Atb Cap Markets reduced their Q1 2024 earnings estimates for shares of Crescent Point Energy in a research report issued to clients and investors on Monday, April 22nd. Atb Cap Markets analyst A. Arif now expects that the company will post earnings of $0.29 per share for the quarter, down from their previous estimate of $0.31. The consensus estimate for Crescent Point Energy’s current full-year earnings is $1.43 per share. Atb Cap Markets also issued estimates for Crescent Point Energy’s Q2 2024 earnings at $0.30 EPS, Q3 2024 earnings at $0.38 EPS, Q4 2024 earnings at $0.46 EPS, FY2024 earnings at $1.42 EPS and FY2026 earnings at $0.58 EPS.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last posted its earnings results on Thursday, February 29th. The company reported C$0.37 EPS for the quarter, missing analysts’ consensus estimates of C$0.51 by C($0.14). Crescent Point Energy had a net margin of 17.88% and a return on equity of 11.97%. The company had revenue of C$1.01 billion during the quarter, compared to analyst estimates of C$1 billion.

CPG has been the topic of a number of other research reports. CIBC upped their target price on shares of Crescent Point Energy from C$14.00 to C$15.00 and gave the company an “outperform” rating in a research report on Monday. Canaccord Genuity Group upped their target price on shares of Crescent Point Energy from C$13.00 to C$14.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. BMO Capital Markets upped their target price on shares of Crescent Point Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. National Bankshares increased their price target on shares of Crescent Point Energy from C$14.00 to C$19.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Finally, Desjardins increased their price target on shares of Crescent Point Energy from C$12.50 to C$14.00 and gave the stock a “buy” rating in a research report on Tuesday. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Crescent Point Energy currently has a consensus rating of “Buy” and a consensus price target of C$14.55.

Crescent Point Energy Trading Up 1.7 %

TSE CPG opened at C$12.10 on Wednesday. The firm’s 50-day moving average is C$10.63 and its two-hundred day moving average is C$9.95. Crescent Point Energy has a 12 month low of C$8.16 and a 12 month high of C$12.47. The company has a debt-to-equity ratio of 54.04, a current ratio of 0.76 and a quick ratio of 0.49. The stock has a market capitalization of C$7.50 billion, a P/E ratio of 8.29, a PEG ratio of -0.59 and a beta of 2.86.

Crescent Point Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.80%. This is a positive change from Crescent Point Energy’s previous quarterly dividend of $0.02. The ex-dividend date was Thursday, March 14th. Crescent Point Energy’s dividend payout ratio is presently 31.51%.

Insider Buying and Selling

In related news, Senior Officer Mark Gordon Eade sold 34,497 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of C$11.83, for a total transaction of C$408,099.51. In related news, Senior Officer Mark Gordon Eade sold 34,497 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of C$11.83, for a total transaction of C$408,099.51. Also, Senior Officer William Garret Holt purchased 49,309 shares of the company’s stock in a transaction on Friday, March 8th. The stock was bought at an average price of C$10.15 per share, for a total transaction of C$500,486.35. Insiders own 0.23% of the company’s stock.

About Crescent Point Energy

Crescent Point Energy Corp. explores, develops, and produces oil and gas properties in Canada and the United States. The company focuses on crude oil, tight oil, natural gas liquids, shale gas, and natural gas reserves. Its properties are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota.