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

Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) – Atb Cap Markets increased their Q1 2024 EPS estimates for shares of Crescent Point Energy in a report released on Tuesday, May 7th. Atb Cap Markets analyst A. Arif now anticipates that the oil and gas producer will post earnings per share of $0.23 for the quarter, up from their previous forecast of $0.21. 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 Q2 2024 earnings at $0.23 EPS.

Separately, BMO Capital Markets upped their target price on shares of Crescent Point Energy from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.81.

Crescent Point Energy Stock Down 1.3 %

Shares of CPG opened at $8.74 on Thursday. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 12.48 and a beta of 2.17. Crescent Point Energy has a 52 week low of $6.03 and a 52 week high of $9.28. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 0.76. The business’s fifty day moving average price is $8.30 and its two-hundred day moving average price is $7.41.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last posted its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $0.27 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $743.70 million during the quarter, compared to analyst estimates of $752.25 million.

Institutional Trading of Crescent Point Energy

Several hedge funds have recently added to or reduced their stakes in the business. Blume Capital Management Inc. grew its position in shares of Crescent Point Energy by 75.0% in the 1st quarter. Blume Capital Management Inc. now owns 3,500 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 1,500 shares during the period. Penbrook Management LLC increased its position in shares of Crescent Point Energy by 0.4% during the fourth quarter. Penbrook Management LLC now owns 501,060 shares of the oil and gas producer’s stock worth $3,493,000 after acquiring an additional 1,900 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Crescent Point Energy by 7.2% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 36,370 shares of the oil and gas producer’s stock worth $302,000 after acquiring an additional 2,431 shares during the period. Signaturefd LLC lifted its position in Crescent Point Energy by 21.9% in the 3rd quarter. Signaturefd LLC now owns 15,334 shares of the oil and gas producer’s stock valued at $127,000 after acquiring an additional 2,752 shares in the last quarter. Finally, FourThought Financial Partners LLC increased its holdings in Crescent Point Energy by 9.7% during the 4th quarter. FourThought Financial Partners LLC now owns 32,311 shares of the oil and gas producer’s stock worth $224,000 after purchasing an additional 2,844 shares in the last quarter. Institutional investors and hedge funds own 49.37% of the company’s stock.

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 paid a $0.086 dividend. This represents a $0.34 annualized dividend and a yield of 3.94%. The ex-dividend date was Thursday, March 14th. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.07. Crescent Point Energy’s dividend payout ratio is presently 47.14%.

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.