Atb Cap Markets Weighs in on Crescent Point Energy Corp.’s Q3 2024 Earnings (NYSE:CPG)

Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) – Stock analysts at Atb Cap Markets lowered their Q3 2024 earnings per share estimates for Crescent Point Energy in a research note issued to investors on Tuesday, May 7th. Atb Cap Markets analyst A. Arif now expects that the oil and gas producer will earn $0.24 per share for the quarter, down from their prior forecast of $0.28. 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 Q4 2024 earnings at $0.29 EPS, FY2024 earnings at $1.00 EPS, FY2025 earnings at $0.72 EPS, FY2026 earnings at $0.34 EPS, FY2027 earnings at $0.37 EPS and FY2028 earnings at $0.40 EPS.

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

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

Crescent Point Energy Stock Performance

Shares of NYSE CPG opened at $8.74 on Wednesday. The company has a market capitalization of $5.41 billion, a PE ratio of 12.48 and a beta of 2.17. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 0.76. The company’s fifty day moving average price is $8.30 and its 200 day moving average price is $7.41. Crescent Point Energy has a 1 year low of $6.03 and a 1 year high of $9.28.

Hedge Funds Weigh In On Crescent Point Energy

A number of hedge funds have recently made changes to their positions in CPG. Blume Capital Management Inc. grew its holdings in shares of Crescent Point Energy by 75.0% during the first quarter. Blume Capital Management Inc. now owns 3,500 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 1,500 shares in the last quarter. Penbrook Management LLC raised its holdings in Crescent Point Energy by 0.4% in the 4th quarter. Penbrook Management LLC now owns 501,060 shares of the oil and gas producer’s stock valued at $3,493,000 after acquiring an additional 1,900 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Crescent Point Energy by 7.2% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 36,370 shares of the oil and gas producer’s stock worth $302,000 after purchasing an additional 2,431 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Crescent Point Energy by 21.9% during the 3rd quarter. Signaturefd LLC now owns 15,334 shares of the oil and gas producer’s stock worth $127,000 after purchasing an additional 2,752 shares during the last quarter. Finally, FourThought Financial Partners LLC grew its position in shares of Crescent Point Energy by 9.7% in the fourth quarter. FourThought Financial Partners LLC now owns 32,311 shares of the oil and gas producer’s stock valued at $224,000 after purchasing an additional 2,844 shares in the last quarter. Institutional investors and hedge funds own 49.37% of the company’s stock.

Crescent Point Energy Increases Dividend

The business also recently disclosed 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 annualized dividend and a yield of 3.94%. This is an increase 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 (DPR) is presently 47.14%.

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.