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

Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) – Equities researchers at Atb Cap Markets decreased their Q1 2024 EPS estimates for Crescent Point Energy in a report released on Monday, April 22nd. Atb Cap Markets analyst A. Arif now anticipates that the oil and gas producer will post earnings of $0.21 per share for the quarter, down from their prior 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 Up 2.1 %

NYSE:CPG opened at $8.87 on Tuesday. 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 firm has a market cap of $5.49 billion, a PE ratio of 12.66 and a beta of 2.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.76 and a quick ratio of 0.76.

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 for the quarter, missing analysts’ consensus estimates 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 business had revenue of $743.70 million during the quarter, compared to analysts’ expectations of $752.25 million.

Crescent Point Energy Increases Dividend

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

Hedge Funds Weigh In On Crescent Point Energy

A number of large investors have recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. bought a new position in Crescent Point Energy in the first quarter worth about $41,000. Quadrature Capital Ltd bought a new position in Crescent Point Energy in the fourth quarter worth about $11,663,000. Vanguard Group Inc. raised its holdings in 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 purchasing an additional 1,521,382 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Crescent Point Energy by 1,534.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 9,277,441 shares of the oil and gas producer’s stock worth $64,293,000 after purchasing an additional 8,709,962 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Crescent Point Energy during the fourth quarter valued at about $368,000. 49.37% of the stock is currently owned by institutional investors.

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.