Atb Cap Markets Analysts Lift Earnings Estimates for Crescent Point Energy Corp. (TSE:CPG)

Crescent Point Energy Corp. (TSE:CPG) (NYSE:CPG) – Analysts at Atb Cap Markets increased their Q1 2024 earnings estimates for Crescent Point Energy in a research note issued on Tuesday, May 7th. Atb Cap Markets analyst A. Arif now anticipates that the company will post earnings per share of $0.32 for the quarter, up from their prior forecast of $0.29. 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 $0.32 EPS.

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

Other equities analysts have also recently issued reports about the stock. National Bankshares lifted their price objective on shares of Crescent Point Energy from C$14.00 to C$19.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. 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. CIBC increased their price target on shares of Crescent Point Energy from C$14.00 to C$15.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. ATB Capital boosted their price objective on Crescent Point Energy from C$12.00 to C$13.00 in a report on Monday, April 22nd. Finally, Jefferies Financial Group lifted their price target on Crescent Point Energy from C$12.00 to C$14.00 in a report on Tuesday, April 23rd. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, Crescent Point Energy presently has a consensus rating of “Buy” and a consensus price target of C$14.70.

Crescent Point Energy Stock Performance

CPG opened at C$11.99 on Thursday. The company has a quick ratio of 0.49, a current ratio of 0.76 and a debt-to-equity ratio of 54.04. The stock has a market cap of C$7.43 billion, a price-to-earnings ratio of 8.21, a PEG ratio of -0.59 and a beta of 2.86. Crescent Point Energy has a 12-month low of C$8.16 and a 12-month high of C$12.67. The business has a 50 day moving average of C$11.31 and a 200-day moving average of C$10.05.

Crescent Point Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.115 per share. The ex-dividend date was Thursday, March 14th. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.02. This represents a $0.46 annualized dividend and a dividend yield of 3.84%. Crescent Point Energy’s dividend payout ratio is 31.51%.

Insider Activity at Crescent Point Energy

In other news, Senior Officer William Garret Holt bought 49,309 shares of the stock in a transaction on Friday, March 8th. The stock was acquired at an average price of C$10.15 per share, with a total value of C$500,486.35. In other news, Senior Officer Mark Gordon Eade sold 34,497 shares of Crescent Point Energy stock in a transaction 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 the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was bought at an average price of C$10.15 per share, with a total value of C$500,486.35. 0.23% of the stock is currently owned by company insiders.

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.