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

Crescent Point Energy Corp. (TSE:CPG) (NYSE:CPG) – Research analysts at Atb Cap Markets reduced their Q3 2024 earnings per share estimates for Crescent Point Energy in a report released on Tuesday, May 7th. Atb Cap Markets analyst A. Arif now anticipates that the company will earn $0.33 per share for the quarter, down from their previous 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 posted its quarterly earnings results on Thursday, February 29th. The company reported C$0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.51 by C($0.14). The firm had revenue of C$1.01 billion for the quarter, compared to analyst estimates 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 research reports. Canaccord Genuity Group increased their price objective on shares of Crescent Point Energy from C$14.00 to C$14.50 and gave the stock a “buy” rating in a research note on Tuesday. Desjardins raised their price target on Crescent Point Energy from C$12.50 to C$14.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. CIBC boosted their price objective on Crescent Point Energy from C$14.00 to C$15.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. Jefferies Financial Group increased their target price on Crescent Point Energy from C$12.00 to C$14.00 in a research report on Tuesday, April 23rd. Finally, BMO Capital Markets boosted their price target on shares of Crescent Point Energy from C$13.00 to C$14.00 and gave the company an “outperform” rating in a report on Tuesday. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$14.70.

Crescent Point Energy Trading Down 1.3 %

Crescent Point Energy stock opened at C$11.99 on Wednesday. Crescent Point Energy has a 1 year low of C$8.16 and a 1 year high of C$12.67. The firm’s 50-day moving average is C$11.31 and its 200-day moving average is C$10.05. 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 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.

Insider Activity at Crescent Point Energy

In related news, Senior Officer William Garret Holt purchased 49,309 shares of the company’s stock in a transaction on Friday, March 8th. The shares were bought at an average cost of C$10.15 per share, for a total transaction of C$500,486.35. In other news, Senior Officer William Garret Holt acquired 49,309 shares of the company’s stock in a transaction dated 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. Also, Senior Officer Mark Gordon Eade sold 34,497 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of C$11.83, for a total value of C$408,099.51. 0.23% of the stock is currently owned by insiders.

Crescent Point Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.46 annualized dividend and a yield of 3.84%. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.02. Crescent Point Energy’s dividend payout ratio is presently 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.