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

Crescent Point Energy Corp. (TSE:CPG) (NYSE:CPG) – Analysts at Atb Cap Markets decreased their Q1 2024 earnings per share (EPS) estimates for shares of Crescent Point Energy in a research report issued on Monday, April 22nd. Atb Cap Markets analyst A. Arif now forecasts that the company will earn $0.29 per share for the quarter, down from their prior 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 reports about the company. BMO Capital Markets increased their price target on Crescent Point Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. National Bankshares raised their target price on Crescent Point Energy from C$14.00 to C$19.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Canaccord Genuity Group raised their target price on Crescent Point Energy from C$13.00 to C$14.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Stifel Nicolaus raised their target price on Crescent Point Energy from C$14.25 to C$16.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, CIBC raised their target price on Crescent Point Energy from C$14.00 to C$15.00 and gave the company an “outperform” rating in a research note on Monday. 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 an average target price of C$14.55.

Crescent Point Energy Trading Up 1.5 %

Shares of CPG opened at C$12.31 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.49 and a debt-to-equity ratio of 54.04. The firm has a market capitalization of C$7.63 billion, a P/E ratio of 8.43, a price-to-earnings-growth ratio of -0.59 and a beta of 2.86. The stock’s fifty day simple moving average is C$10.77 and its 200 day simple moving average is C$9.98. Crescent Point Energy has a twelve month low of C$8.16 and a twelve month high of C$12.47.

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

Crescent Point Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date was Thursday, March 14th. This is a boost from Crescent Point Energy’s previous quarterly dividend of $0.02. Crescent Point Energy’s payout ratio is 31.51%.

Insider Activity

In other Crescent Point Energy news, Senior Officer William Garret Holt purchased 49,309 shares of the business’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. In other news, Senior Officer William Garret Holt bought 49,309 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were purchased 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 business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of C$11.83, for a total value of C$408,099.51. Corporate insiders own 0.23% of the company’s stock.

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.