Q1 2024 Earnings Estimate for Crescent Point Energy Corp. (NYSE:CPG) Issued By Atb Cap Markets

Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) – Equities researchers at Atb Cap Markets decreased their Q1 2024 earnings per share (EPS) estimates for shares of Crescent Point Energy in a note issued to investors on Monday, April 22nd. Atb Cap Markets analyst A. Arif now anticipates that the oil and gas producer will earn $0.21 per share for the quarter, down from their previous estimate of $0.23. The consensus estimate for Crescent Point Energy’s current full-year earnings is $1.17 per share. Atb Cap Markets also issued estimates for Crescent Point Energy’s Q3 2024 earnings at $0.28 EPS, FY2025 earnings at $0.83 EPS, FY2026 earnings at $0.42 EPS, FY2027 earnings at $0.47 EPS and FY2028 earnings at $0.51 EPS.

Crescent Point Energy Stock Performance

Shares of CPG stock opened at $8.86 on Tuesday. The company has a market capitalization of $5.49 billion, a P/E ratio of 12.65 and a beta of 2.23. Crescent Point Energy has a 12-month low of $6.03 and a 12-month high of $9.07. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $7.88 and a 200 day moving average price of $7.35.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last released its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.11). Crescent Point Energy had a return on equity of 13.27% and a net margin of 15.40%. The company had revenue of $743.70 million for the quarter, compared to analyst estimates of $752.25 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Riverstone Holdings LLC bought a new position in shares of Crescent Point Energy in the fourth quarter valued at about $289,379,000. Franklin Resources Inc. raised its stake in shares of Crescent Point Energy by 5.0% in the fourth quarter. Franklin Resources Inc. now owns 25,945,226 shares of the oil and gas producer’s stock worth $179,949,000 after acquiring an additional 1,229,117 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Crescent Point Energy by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 20,410,351 shares of the oil and gas producer’s stock worth $141,444,000 after acquiring an additional 1,521,382 shares during the last quarter. Ninepoint Partners LP lifted its position in shares of Crescent Point Energy by 18.8% during the fourth quarter. Ninepoint Partners LP now owns 19,000,000 shares of the oil and gas producer’s stock worth $131,670,000 after purchasing an additional 3,000,000 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Crescent Point Energy by 14.4% during the fourth quarter. CIBC Asset Management Inc now owns 12,213,750 shares of the oil and gas producer’s stock valued at $84,981,000 after purchasing an additional 1,537,494 shares during the last quarter. 49.37% of the stock is owned by institutional investors and hedge funds.

Crescent Point Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.086 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 3.88%. This is a boost from Crescent Point Energy’s previous quarterly dividend of $0.07. Crescent Point Energy’s payout ratio is 47.14%.

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.