Research Analysts Set Expectations for Crescent Point Energy Corp.’s Q3 2024 Earnings (TSE:CPG)

Crescent Point Energy Corp. (TSE:CPG) (NYSE:CPG) – Atb Cap Markets reduced their Q3 2024 earnings per share (EPS) estimates for Crescent Point Energy in a note issued to investors on Tuesday, May 7th. Atb Cap Markets analyst A. Arif now expects that the company will post earnings of $0.33 per share for the quarter, down from their prior forecast of $0.38. 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 Q4 2024 earnings at $0.40 EPS, FY2024 earnings at $1.37 EPS, FY2025 earnings at $0.99 EPS, FY2026 earnings at $0.46 EPS, FY2027 earnings at $0.50 EPS and FY2028 earnings at $0.55 EPS.

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

CPG has been the topic of several other reports. Canaccord Genuity Group lifted their target price on Crescent Point Energy from C$14.00 to C$14.50 and gave the company a “buy” rating in a report on Tuesday. BMO Capital Markets lifted their price objective on Crescent Point Energy from C$13.00 to C$14.00 and gave the company an “outperform” rating in a research note on Tuesday. Desjardins raised 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 report on Tuesday, April 23rd. ATB Capital boosted their price target on shares of Crescent Point Energy from C$12.00 to C$13.00 in a report on Monday, April 22nd. Finally, 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. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$14.70.

Crescent Point Energy Price Performance

Shares of CPG opened at C$11.99 on Wednesday. The firm’s 50 day moving average price is C$11.31 and its 200 day moving average price is C$10.05. The company has a market cap of C$7.43 billion, a P/E ratio of 8.21, a PEG ratio of -0.59 and a beta of 2.86. The company has a quick ratio of 0.49, a current ratio of 0.76 and a debt-to-equity ratio of 54.04. Crescent Point Energy has a fifty-two week low of C$8.16 and a fifty-two week high of C$12.67.

Insider Buying and Selling at Crescent Point Energy

In other news, Senior Officer Mark Gordon Eade sold 34,497 shares of the firm’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. In related news, Senior Officer Mark Gordon Eade sold 34,497 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was 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 on Friday, March 8th. The shares were bought at an average cost of C$10.15 per share, with a total value of C$500,486.35. 0.23% of the stock is owned by company insiders.

Crescent Point Energy Increases Dividend

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

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.