Crescent Point Energy Corp. to Post Q1 2024 Earnings of $0.23 Per Share, Atb Cap Markets Forecasts (NYSE:CPG)

Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) – Research analysts at Atb Cap Markets upped their Q1 2024 earnings estimates for shares of Crescent Point Energy in a report issued on Tuesday, May 7th. Atb Cap Markets analyst A. Arif now anticipates that the oil and gas producer will post earnings per share of $0.23 for the quarter, up from their prior forecast of $0.21. 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 Q2 2024 earnings at $0.23 EPS.

Separately, BMO Capital Markets increased their price objective on shares of Crescent Point Energy from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Crescent Point Energy currently has an average rating of “Moderate Buy” and a consensus target price of $13.81.

Crescent Point Energy Stock Up 0.9 %

Shares of NYSE CPG opened at $8.81 on Thursday. The company has a 50 day simple moving average of $8.33 and a 200-day simple moving average of $7.42. The company has a market capitalization of $5.45 billion, a P/E ratio of 12.58 and a beta of 2.17. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.76 and a quick ratio of 0.76. Crescent Point Energy has a 1 year low of $6.03 and a 1 year high of $9.28.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last announced 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 firm had revenue of $743.70 million for the quarter, compared to analyst estimates 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.086 dividend. This represents a $0.34 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Crescent Point Energy’s previous quarterly dividend of $0.07. Crescent Point Energy’s dividend payout ratio (DPR) is currently 47.14%.

Hedge Funds Weigh In On Crescent Point Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blume Capital Management Inc. boosted its position in Crescent Point Energy by 75.0% in the 1st quarter. Blume Capital Management Inc. now owns 3,500 shares of the oil and gas producer’s stock valued at $29,000 after buying an additional 1,500 shares during the period. Penbrook Management LLC grew its stake in shares of Crescent Point Energy by 0.4% during the fourth quarter. Penbrook Management LLC now owns 501,060 shares of the oil and gas producer’s stock worth $3,493,000 after purchasing an additional 1,900 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Crescent Point Energy by 7.2% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 36,370 shares of the oil and gas producer’s stock worth $302,000 after purchasing an additional 2,431 shares in the last quarter. Signaturefd LLC grew its stake in shares of Crescent Point Energy by 21.9% during the third quarter. Signaturefd LLC now owns 15,334 shares of the oil and gas producer’s stock worth $127,000 after purchasing an additional 2,752 shares in the last quarter. Finally, FourThought Financial Partners LLC grew its stake in shares of Crescent Point Energy by 9.7% during the fourth quarter. FourThought Financial Partners LLC now owns 32,311 shares of the oil and gas producer’s stock worth $224,000 after purchasing an additional 2,844 shares in the last quarter. Hedge funds and other institutional investors own 49.37% 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.