Crescent Point Energy (CPG) to Release Quarterly Earnings on Friday

Crescent Point Energy (TSE:CPG) (NYSE:CPG) is set to release its earnings data before the market opens on Friday, May 10th. Analysts expect Crescent Point Energy to post earnings of C$0.32 per share for the quarter.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last posted its quarterly earnings results on Thursday, February 29th. The company reported C$0.37 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.51 by C($0.14). Crescent Point Energy had a return on equity of 11.97% and a net margin of 17.88%. The business had revenue of C$1.01 billion for the quarter, compared to the consensus estimate of C$1 billion.

Crescent Point Energy Stock Up 0.6 %

Shares of TSE:CPG opened at C$12.15 on Wednesday. Crescent Point Energy has a 52 week low of C$8.16 and a 52 week high of C$12.67. The company has a debt-to-equity ratio of 54.04, a quick ratio of 0.49 and a current ratio of 0.76. The company has a market capitalization of C$7.53 billion, a PE ratio of 8.32, a PEG ratio of -0.59 and a beta of 2.86. The company has a 50 day moving average price of C$11.26 and a two-hundred day moving average price of C$10.04.

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 $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.02. Crescent Point Energy’s dividend payout ratio is presently 31.51%.

Insider Activity

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Desjardins upped their target price on shares of Crescent Point Energy from C$12.50 to C$14.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Jefferies Financial Group increased their price objective on shares of Crescent Point Energy from C$12.00 to C$14.00 in a research report on Tuesday, April 23rd. Canaccord Genuity Group increased their price objective on shares of Crescent Point Energy from C$14.00 to C$14.50 and gave the stock a “buy” rating in a research report on Tuesday. CIBC increased their price objective on shares of Crescent Point Energy from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Finally, Stifel Nicolaus lifted their target price on shares of Crescent Point Energy from C$14.25 to C$16.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$14.70.

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.