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

Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) – Atb Cap Markets increased their Q1 2024 earnings per share estimates for shares of Crescent Point Energy in a research report issued on Tuesday, May 7th. Atb Cap Markets analyst A. Arif now forecasts that the oil and gas producer will post earnings per share of $0.23 for the quarter, up from their previous estimate of $0.21. 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 Q2 2024 earnings at $0.23 EPS.

Separately, BMO Capital Markets lifted their price target on shares of Crescent Point Energy from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.81.

Crescent Point Energy Stock Down 1.3 %

Crescent Point Energy stock opened at $8.74 on Thursday. The company has a market capitalization of $5.41 billion, a PE ratio of 12.48 and a beta of 2.17. Crescent Point Energy has a 12-month low of $6.03 and a 12-month high of $9.28. The firm’s fifty day moving average is $8.30 and its 200 day moving average is $7.41. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.46.

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

Crescent Point Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a $0.086 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.34 annualized dividend and a yield of 3.94%. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.07. Crescent Point Energy’s dividend payout ratio (DPR) is presently 47.14%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Crescent Point Energy by 1.2% during the third quarter. Vanguard Group Inc. now owns 18,888,969 shares of the oil and gas producer’s stock worth $156,778,000 after buying an additional 217,234 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Crescent Point Energy by 12.1% in the third quarter. American Century Companies Inc. now owns 3,585,348 shares of the oil and gas producer’s stock valued at $29,723,000 after purchasing an additional 387,650 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Crescent Point Energy by 7.3% during the third quarter. The Manufacturers Life Insurance Company now owns 3,181,597 shares of the oil and gas producer’s stock worth $26,564,000 after purchasing an additional 216,250 shares during the last quarter. Invesco Ltd. grew its position in Crescent Point Energy by 2.1% in the 3rd quarter. Invesco Ltd. now owns 5,309,589 shares of the oil and gas producer’s stock worth $44,070,000 after purchasing an additional 110,526 shares in the last quarter. Finally, Ninepoint Partners LP increased its stake in Crescent Point Energy by 100.0% in the 3rd quarter. Ninepoint Partners LP now owns 16,000,000 shares of the oil and gas producer’s stock valued at $132,800,000 after buying an additional 8,000,000 shares during the last quarter. Institutional investors and hedge funds own 49.37% of the company’s stock.

About Crescent Point Energy

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.