Atb Cap Markets Brokers Cut Earnings Estimates for Crescent Point Energy Corp. (NYSE:CPG)

Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) – Research analysts at Atb Cap Markets cut their Q1 2024 earnings estimates for Crescent Point Energy in a research report issued to clients and investors on Monday, April 22nd. Atb Cap Markets analyst A. Arif now anticipates that the oil and gas producer will earn $0.21 per share for the quarter, down from their previous estimate of $0.23. 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 Q3 2024 earnings at $0.28 EPS, FY2025 earnings at $0.83 EPS, FY2026 earnings at $0.42 EPS, FY2027 earnings at $0.47 EPS and FY2028 earnings at $0.51 EPS.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last released its quarterly earnings results on Thursday, February 29th. The oil and gas producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.11). The firm had revenue of $743.70 million for the quarter, compared to the consensus estimate of $752.25 million. Crescent Point Energy had a return on equity of 13.27% and a net margin of 15.40%.

Crescent Point Energy Stock Performance

CPG stock opened at $8.87 on Tuesday. The company has a market capitalization of $5.49 billion, a P/E ratio of 12.66 and a beta of 2.23. The company has a 50-day simple moving average of $7.83 and a 200 day simple moving average of $7.34. Crescent Point Energy has a fifty-two week low of $6.03 and a fifty-two week high of $9.07. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.46.

Institutional Investors Weigh In On Crescent Point Energy

Several institutional investors have recently bought and sold shares of the stock. Ronald Blue Trust Inc. lifted its holdings in Crescent Point Energy by 33.6% in the third quarter. Ronald Blue Trust Inc. now owns 6,863 shares of the oil and gas producer’s stock worth $57,000 after purchasing an additional 1,727 shares during the period. Penbrook Management LLC lifted its holdings in Crescent Point Energy by 0.4% in the 4th quarter. Penbrook Management LLC now owns 501,060 shares of the oil and gas producer’s stock valued at $3,493,000 after acquiring an additional 1,900 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Crescent Point Energy by 7.2% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 36,370 shares of the oil and gas producer’s stock valued at $302,000 after acquiring an additional 2,431 shares during the last quarter. Signaturefd LLC lifted its holdings 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 during the last quarter. Finally, FourThought Financial Partners LLC lifted its holdings in Crescent Point Energy by 9.7% in the 4th quarter. FourThought Financial Partners LLC now owns 32,311 shares of the oil and gas producer’s stock valued at $224,000 after acquiring an additional 2,844 shares during the last quarter. Institutional investors and hedge funds own 49.37% of the company’s stock.

Crescent Point Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.086 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.34 annualized dividend and a yield of 3.88%. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.07. Crescent Point Energy’s dividend payout ratio is presently 48.57%.

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.