Atb Cap Markets Comments on Crescent Point Energy Corp.’s Q1 2024 Earnings (NYSE:CPG)

Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) – Atb Cap Markets reduced their Q1 2024 earnings estimates for shares of Crescent Point Energy in a research report issued to clients and investors on Monday, April 22nd. Atb Cap Markets analyst A. Arif now forecasts that the oil and gas producer will earn $0.21 per share for the quarter, down from their prior 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 posted its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $0.27 earnings per share 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 analyst estimates 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 $8.86 on Tuesday. Crescent Point Energy has a 1-year low of $6.03 and a 1-year high of $9.07. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $7.88 and a 200-day moving average price of $7.35. The firm has a market cap of $5.49 billion, a PE ratio of 12.65 and a beta of 2.23.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CPG. Vanguard Group Inc. raised its holdings in shares of 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 valued at $156,778,000 after purchasing an additional 217,234 shares during the period. American Century Companies Inc. grew its stake in 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 acquiring an additional 387,650 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of 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 valued at $26,564,000 after acquiring an additional 216,250 shares in the last quarter. Invesco Ltd. raised its position in shares of Crescent Point Energy by 2.1% during the third 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 during the period. Finally, Ninepoint Partners LP lifted its holdings in shares of 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 worth $132,800,000 after purchasing an additional 8,000,000 shares in the last quarter. 49.37% of the stock is owned by institutional investors.

Crescent Point Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.086 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 3.88%. This is a boost from Crescent Point Energy’s previous quarterly dividend of $0.07. The ex-dividend date was Thursday, March 14th. Crescent Point Energy’s dividend payout ratio is presently 47.14%.

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.