Q2 2024 Earnings Estimate for Crescent Point Energy Corp. Issued By Atb Cap Markets (NYSE:CPG)

Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) – Equities research analysts at Atb Cap Markets dropped their Q2 2024 earnings per share (EPS) estimates for Crescent Point Energy in a research note issued on Monday, April 22nd. Atb Cap Markets analyst A. Arif now forecasts that the oil and gas producer will post earnings of $0.22 per share for the quarter, down from their previous estimate of $0.24. 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 $0.34 EPS and FY2024 earnings at $1.04 EPS.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last posted its earnings results on Thursday, February 29th. The oil and gas producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.11). The business had revenue of $743.70 million for the quarter, compared to the consensus estimate of $752.25 million. Crescent Point Energy had a return on equity of 13.27% and a net margin of 15.40%.

Crescent Point Energy Stock Performance

CPG stock opened at $8.86 on Wednesday. The business’s 50-day moving average price is $7.88 and its two-hundred day moving average price is $7.35. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The firm has a market cap of $5.49 billion, a PE ratio of 12.65 and a beta of 2.23. Crescent Point Energy has a 1-year low of $6.03 and a 1-year high of $9.07.

Institutional Trading of Crescent Point Energy

Institutional investors have recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Crescent Point Energy in the first quarter valued at about $41,000. Parallel Advisors LLC increased its position in shares of Crescent Point Energy by 224.1% in the fourth quarter. Parallel Advisors LLC now owns 6,378 shares of the oil and gas producer’s stock valued at $44,000 after acquiring an additional 4,410 shares during the last quarter. Ronald Blue Trust Inc. increased its position in shares of Crescent Point Energy by 33.6% in the third quarter. Ronald Blue Trust Inc. now owns 6,863 shares of the oil and gas producer’s stock valued at $57,000 after acquiring an additional 1,727 shares during the last quarter. Blue Trust Inc. increased its position in shares of Crescent Point Energy by 48.8% in the fourth quarter. Blue Trust Inc. now owns 10,210 shares of the oil and gas producer’s stock valued at $71,000 after acquiring an additional 3,347 shares during the last quarter. Finally, Kim LLC acquired a new stake in shares of Crescent Point Energy in the fourth quarter valued at about $82,000. 49.37% of the stock is currently owned by institutional investors.

Crescent Point Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a $0.086 dividend. This represents a $0.34 dividend on an annualized basis and a dividend yield of 3.88%. This is a positive change from Crescent Point Energy’s previous quarterly dividend of $0.07. The ex-dividend date was Thursday, March 14th. Crescent Point Energy’s payout ratio is 47.14%.

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.