Crescent Point Energy Corp. (TSE:CPG) Forecasted to Post Q3 2024 Earnings of $0.33 Per Share

Crescent Point Energy Corp. (TSE:CPG) (NYSE:CPG) – Analysts at Atb Cap Markets reduced their Q3 2024 earnings per share estimates for shares of Crescent Point Energy in a research report issued to clients and investors on Tuesday, May 7th. Atb Cap Markets analyst A. Arif now expects that the company will earn $0.33 per share for the quarter, down from their prior estimate 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.

CPG has been the subject of a number of other reports. Raymond James lowered their price target on Crescent Point Energy from C$16.50 to C$14.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. National Bankshares raised their price target on shares of Crescent Point Energy from C$14.00 to C$19.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. ATB Capital upped their price objective on shares of Crescent Point Energy from C$12.00 to C$13.00 in a research report on Monday, April 22nd. Desjardins lifted their target price on shares of Crescent Point Energy from C$12.50 to C$14.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Finally, Canaccord Genuity Group increased their price target on Crescent Point Energy from C$14.00 to C$14.50 and gave the company a “buy” rating in a research report on Tuesday. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$14.70.

Crescent Point Energy Price Performance

Shares of TSE CPG opened at C$12.15 on Wednesday. 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 firm’s 50-day simple moving average is C$11.26 and its 200 day simple moving average is C$10.04. The stock has a market cap of C$7.53 billion, a price-to-earnings ratio of 8.32, a PEG ratio of -0.59 and a beta of 2.86. Crescent Point Energy has a fifty-two week low of C$8.16 and a fifty-two week high of C$12.67.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last announced 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). Crescent Point Energy had a return on equity of 11.97% and a net margin of 17.88%. The firm had revenue of C$1.01 billion during the quarter, compared to the consensus estimate of C$1 billion.

Crescent Point Energy Increases Dividend

The company 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 $0.115 per share. This represents a $0.46 annualized dividend and a yield of 3.79%. This is a positive change from Crescent Point Energy’s previous quarterly dividend of $0.02. The ex-dividend date was Thursday, March 14th. Crescent Point Energy’s dividend payout ratio is 31.51%.

Insiders Place Their Bets

In other news, Senior Officer Mark Gordon Eade sold 34,497 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of C$11.83, for a total transaction of C$408,099.51. In other news, Senior Officer Mark Gordon Eade sold 34,497 shares of the business’s stock in a transaction that occurred 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. Also, Senior Officer William Garret Holt acquired 49,309 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was acquired at an average cost of C$10.15 per share, with a total value of C$500,486.35. Company 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.