Equities Analysts Offer Predictions for Crescent Point Energy Corp.’s Q1 2024 Earnings (TSE:CPG)

Crescent Point Energy Corp. (TSE:CPG) (NYSE:CPG) – Analysts at Atb Cap Markets cut their Q1 2024 earnings estimates for shares of Crescent Point Energy in a research report issued on Wednesday, November 15th. Atb Cap Markets analyst A. Arif now expects that the company will earn $0.39 per share for the quarter, down from their previous estimate of $0.42. 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 $0.34 EPS, FY2024 earnings at $1.52 EPS, FY2025 earnings at $1.34 EPS and FY2026 earnings at $0.67 EPS.

A number of other brokerages also recently weighed in on CPG. BMO Capital Markets increased their price objective on shares of Crescent Point Energy from C$12.50 to C$13.00 in a research report on Thursday, July 27th. Canaccord Genuity Group upped their price target on shares of Crescent Point Energy from C$13.00 to C$15.00 in a research report on Friday, October 20th. ATB Capital dropped their price objective on shares of Crescent Point Energy from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a report on Friday, August 25th. National Bankshares set a C$19.00 target price on shares of Crescent Point Energy and gave the company an “outperform” rating in a research report on Thursday. Finally, Raymond James increased their price target on shares of Crescent Point Energy from C$16.00 to C$16.50 and gave the stock an “outperform” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$15.07.

Crescent Point Energy Stock Up 3.3 %

Shares of Crescent Point Energy stock opened at C$9.70 on Friday. The company has a 50-day simple moving average of C$10.80 and a two-hundred day simple moving average of C$10.16. The stock has a market capitalization of C$5.09 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of -0.59 and a beta of 2.79. Crescent Point Energy has a 52-week low of C$7.73 and a 52-week high of C$11.70. The company has a debt-to-equity ratio of 53.55, a quick ratio of 0.49 and a current ratio of 1.29.

Insider Activity

In other Crescent Point Energy news, Director Craig Stephen Bryksa purchased 10,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were acquired at an average cost of C$9.76 per share, with a total value of C$97,600.00. In other news, Senior Officer William Garret Holt purchased 10,256 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was acquired at an average price of C$9.76 per share, for a total transaction of C$100,098.56. Also, Director Craig Stephen Bryksa purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were acquired at an average cost of C$9.76 per share, for a total transaction of C$97,600.00. Insiders have bought 30,882 shares of company stock worth $297,689 in the last three months. Company insiders own 0.45% of the company’s stock.

Crescent Point Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be paid a $0.02 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.82%. Crescent Point Energy’s dividend payout ratio (DPR) is presently 76.92%.

About Crescent Point Energy

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.