Crescent Point Energy Corp. (TSE:CPG) Expected to Post Q1 2024 Earnings of $0.29 Per Share

Crescent Point Energy Corp. (TSE:CPG) (NYSE:CPG) – Analysts at Atb Cap Markets dropped their Q1 2024 EPS estimates for shares of Crescent Point Energy in a report issued on Monday, April 22nd. Atb Cap Markets analyst A. Arif now anticipates that the company will post earnings of $0.29 per share for the quarter, down from their previous estimate of $0.31. 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 $0.30 EPS, Q3 2024 earnings at $0.38 EPS, Q4 2024 earnings at $0.46 EPS, FY2024 earnings at $1.42 EPS and FY2026 earnings at $0.58 EPS.

Other analysts also recently issued research reports about the stock. Desjardins lifted their target price on shares of Crescent Point Energy from C$12.50 to C$14.00 and gave the stock a “buy” rating in a report on Tuesday. 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. Jefferies Financial Group boosted their price objective on shares of Crescent Point Energy from C$12.00 to C$14.00 in a report on Tuesday. ATB Capital boosted their price objective on shares of Crescent Point Energy from C$12.00 to C$13.00 in a report on Monday. Finally, Canaccord Genuity Group boosted their price objective on shares of Crescent Point Energy from C$13.00 to C$14.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$14.55.

Crescent Point Energy Stock Performance

Shares of CPG stock opened at C$12.31 on Wednesday. The company has a market capitalization of C$7.63 billion, a price-to-earnings ratio of 8.43, a PEG ratio of -0.59 and a beta of 2.86. 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 50-day simple moving average of C$10.77 and a 200 day simple moving average of C$9.98. Crescent Point Energy has a 52 week low of C$8.16 and a 52 week high of C$12.47.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last announced its quarterly earnings data 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). Crescent Point Energy had a net margin of 17.88% and a return on equity of 11.97%. The firm had revenue of C$1.01 billion during the quarter, compared to the consensus estimate of C$1 billion.

Crescent Point Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Crescent Point Energy’s previous quarterly dividend of $0.02. This represents a $0.46 annualized dividend and a dividend yield of 3.74%. Crescent Point Energy’s 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 related news, Senior Officer Mark Gordon Eade sold 34,497 shares of the company’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 the stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average price of C$10.15 per share, with a total value of C$500,486.35. Corporate insiders own 0.23% of the company’s stock.

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.