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

Crescent Point Energy Corp. (TSE:CPG) (NYSE:CPG) – Stock analysts at Atb Cap Markets dropped their Q1 2024 earnings per share (EPS) 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 forecast 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.

CPG has been the topic of several other reports. Desjardins lifted their price objective on Crescent Point Energy from C$12.50 to C$14.00 and gave the company a “buy” rating in a research note on Tuesday. Stifel Nicolaus lifted their price objective on Crescent Point Energy from C$14.25 to C$16.00 and gave the company a “buy” rating in a research note on Tuesday. ATB Capital lifted their price objective on Crescent Point Energy from C$12.00 to C$13.00 in a research note on Monday. Canaccord Genuity Group lifted their price objective on Crescent Point Energy from C$13.00 to C$14.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, Jefferies Financial Group lifted their price objective on Crescent Point Energy from C$12.00 to C$14.00 in a research note on Tuesday. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$14.55.

Crescent Point Energy Stock Performance

TSE CPG opened at C$12.10 on Wednesday. The firm has a market capitalization of C$7.50 billion, a P/E ratio of 8.29, a P/E/G ratio of -0.59 and a beta of 2.86. Crescent Point Energy has a 1-year low of C$8.16 and a 1-year 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 business’s 50-day simple moving average is C$10.63 and its 200-day simple moving average is C$9.95.

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

Insider Buying and Selling

In other Crescent Point Energy news, Senior Officer Mark Gordon Eade sold 34,497 shares of Crescent Point Energy stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of C$11.83, for a total transaction of C$408,099.51. In other Crescent Point Energy news, Senior Officer Mark Gordon Eade sold 34,497 shares of Crescent Point Energy stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of C$11.83, for a total transaction of C$408,099.51. Also, Senior Officer William Garret Holt acquired 49,309 shares of the company’s stock in a transaction on Friday, March 8th. The shares were acquired at an average price of C$10.15 per share, for a total transaction of C$500,486.35. 0.23% of the stock is currently owned by corporate insiders.

Crescent Point Energy Increases Dividend

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

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.