Atb Cap Markets Brokers Lower Earnings Estimates for Crescent Point Energy Corp. (NYSE:CPG)

Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) – Investment analysts at 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 expects that the oil and gas producer will post earnings of $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 Price Performance

Shares of CPG opened at $8.69 on Tuesday. Crescent Point Energy has a fifty-two week low of $6.03 and a fifty-two week high of $9.07. The firm’s 50 day moving average price is $7.83 and its 200 day moving average price is $7.34. The company has a market cap of $5.38 billion, a P/E ratio of 12.41 and a beta of 2.23. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.46.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last released its quarterly earnings results on Thursday, February 29th. The oil and gas producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 15.40% and a return on equity of 13.27%.

Institutional Investors Weigh In On Crescent Point Energy

Large investors have recently added to or reduced their stakes in the business. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Crescent Point Energy during the 1st quarter worth approximately $41,000. Parallel Advisors LLC increased its stake in Crescent Point Energy by 224.1% during the 4th quarter. Parallel Advisors LLC now owns 6,378 shares of the oil and gas producer’s stock worth $44,000 after buying an additional 4,410 shares during the period. Ronald Blue Trust Inc. increased its stake in Crescent Point Energy by 33.6% during the 3rd quarter. Ronald Blue Trust Inc. now owns 6,863 shares of the oil and gas producer’s stock worth $57,000 after buying an additional 1,727 shares during the period. Blue Trust Inc. increased its position in shares of Crescent Point Energy by 48.8% in the 4th quarter. Blue Trust Inc. now owns 10,210 shares of the oil and gas producer’s stock valued at $71,000 after purchasing an additional 3,347 shares during the last quarter. Finally, Kim LLC purchased a new stake in shares of Crescent Point Energy in the 4th quarter valued at approximately $82,000. 49.37% of the stock is owned by hedge funds and other institutional investors.

Crescent Point Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.086 per share. This is an increase from Crescent Point Energy’s previous quarterly dividend of $0.07. This represents a $0.34 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend was Thursday, March 14th. Crescent Point Energy’s dividend payout ratio is presently 48.57%.

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.