Stifel Firstegy Weighs in on Crescent Point Energy Corp.’s FY2023 Earnings (TSE:CPG)

Crescent Point Energy Corp. (TSE:CPG – Get Rating) (NYSE:CPG) – Stifel Firstegy raised their FY2023 EPS estimates for shares of Crescent Point Energy in a research report issued on Thursday, April 21st. Stifel Firstegy analyst C. Kwong now forecasts that the company will post earnings of $2.06 per share for the year, up from their previous estimate of $1.97.

Crescent Point Energy (TSE:CPG – Get Rating) (NYSE:CPG) last announced its quarterly earnings results on Thursday, March 3rd. The company reported C$0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.34 by C($0.07). The company had revenue of C$900.40 million for the quarter.

CPG has been the topic of several other reports. National Bankshares cut their price target on shares of Crescent Point Energy from C$20.00 to C$15.50 in a research note on Thursday, April 14th. Raymond James lifted their price objective on shares of Crescent Point Energy from C$10.00 to C$12.00 and gave the company an “outperform” rating in a research note on Friday, March 25th. Tudor Pickering lifted their price objective on shares of Crescent Point Energy to C$10.00 and gave the company a “buy” rating in a research note on Thursday, January 13th. Royal Bank of Canada lifted their target price on shares of Crescent Point Energy from C$11.00 to C$12.00 and gave the company an “outperform” rating in a report on Friday, March 4th. Finally, Scotiabank lifted their target price on shares of Crescent Point Energy from C$8.50 to C$11.00 in a report on Tuesday, March 8th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$12.20.

Shares of TSE:CPG opened at C$8.93 on Monday. The company’s fifty day moving average price is C$9.06 and its 200 day moving average price is C$7.56. Crescent Point Energy has a 12 month low of C$3.67 and a 12 month high of C$10.08. The company has a debt-to-equity ratio of 39.07, a current ratio of 0.40 and a quick ratio of 0.32. The firm has a market capitalization of C$5.13 billion and a P/E ratio of 2.17.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Friday, April 1st were issued a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Monday, March 14th. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.03. Crescent Point Energy’s dividend payout ratio is 0.85%.

About Crescent Point Energy (Get Rating)

Crescent Point Energy Corp. explores, develops, and produces light and medium crude oil, natural gas liquids, and natural gas reserves in Western Canada and the United States. It's crude oil and natural gas properties, and related assets are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota and Montana.

Read More