Atb Cap Markets Analysts Reduce Earnings Estimates for Crescent Point Energy Corp. (NYSE:CPG)

Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) – Atb Cap Markets dropped their Q2 2024 earnings estimates for 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 oil and gas producer will post earnings of $0.22 per share for the quarter, down from their prior estimate of $0.24. 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 Q4 2024 earnings at $0.34 EPS and FY2024 earnings at $1.04 EPS.

Crescent Point Energy Stock Up 2.1 %

NYSE CPG opened at $8.87 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. Crescent Point Energy has a 1-year low of $6.03 and a 1-year high of $9.07. The company has a 50 day moving average of $7.83 and a 200-day moving average of $7.34. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 12.66 and a beta of 2.23.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CPG. Riverstone Holdings LLC bought a new stake in shares of Crescent Point Energy during the fourth quarter worth $289,379,000. Franklin Resources Inc. grew its stake in shares of Crescent Point Energy by 5.0% during 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 buying an additional 1,229,117 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Crescent Point Energy by 8.1% during 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 buying an additional 1,521,382 shares during the last quarter. Ninepoint Partners LP grew its stake 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 buying an additional 3,000,000 shares during 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 worth $84,981,000 after buying an additional 1,537,494 shares during the last quarter. 49.37% of the stock is currently owned by institutional investors and hedge funds.

Crescent Point Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.086 per share. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.07. This represents a $0.34 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend was Thursday, March 14th. Crescent Point Energy’s payout ratio is currently 48.57%.

Crescent Point Energy Company Profile

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.