Q1 2024 EPS Estimates for Crescent Point Energy Corp. (TSE:CPG) Decreased by Analyst

Crescent Point Energy Corp. (TSE:CPG) (NYSE:CPG) – Atb Cap Markets cut their Q1 2024 earnings estimates for shares of Crescent Point Energy in a report released on Monday, April 22nd. Atb Cap Markets analyst A. Arif now expects that the company will earn $0.29 per share for the quarter, down from their prior 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.

Several other brokerages have also recently weighed in on CPG. Desjardins increased their price target on shares of Crescent Point Energy from C$12.50 to C$14.00 and gave the company a “buy” rating in a research report on Tuesday. CIBC increased their price target 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. Jefferies Financial Group increased their price target on shares of Crescent Point Energy from C$12.00 to C$14.00 in a research report on Tuesday. Canaccord Genuity Group increased their price target 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. Finally, BMO Capital Markets increased their price target 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. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$14.55.

Crescent Point Energy Price Performance

Shares of Crescent Point Energy stock opened at C$12.13 on Wednesday. Crescent Point Energy has a 52-week low of C$8.16 and a 52-week high of C$12.47. The stock has a market capitalization of C$7.52 billion, a price-to-earnings ratio of 8.31, a price-to-earnings-growth ratio of -0.59 and a beta of 2.86. The company has a fifty day moving average of C$10.70 and a 200-day moving average of C$9.96. The company has a debt-to-equity ratio of 54.04, a quick ratio of 0.49 and a current ratio of 0.76.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last announced its quarterly earnings data on Thursday, February 29th. The company reported C$0.37 earnings per share (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 business had revenue of C$1.01 billion during the quarter, compared to analysts’ expectations of C$1 billion.

Crescent Point Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 3.79%. This is a boost from Crescent Point Energy’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Thursday, March 14th. Crescent Point Energy’s dividend payout ratio (DPR) is currently 31.51%.

Insider Buying and Selling

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

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.