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

Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) – Stock analysts at Atb Cap Markets dropped their Q1 2024 earnings estimates for shares of Crescent Point Energy in a research note issued on Monday, April 22nd. Atb Cap Markets analyst A. Arif now anticipates that the oil and gas producer will earn $0.21 per share for the quarter, down from their prior forecast 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 Stock Performance

Crescent Point Energy stock opened at $8.69 on Tuesday. 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 $9.07. The firm has a market capitalization of $5.38 billion, a P/E ratio of 12.41 and a beta of 2.23. The company’s 50-day moving average is $7.83 and its 200 day moving average is $7.34.

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

Institutional Trading of Crescent Point Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC increased its position in shares of Crescent Point Energy by 14.6% during the third quarter. Dynamic Advisor Solutions LLC now owns 25,345 shares of the oil and gas producer’s stock worth $210,000 after acquiring an additional 3,230 shares during the period. Ronald Blue Trust Inc. increased its position in shares of Crescent Point Energy by 33.6% during the third quarter. Ronald Blue Trust Inc. now owns 6,863 shares of the oil and gas producer’s stock worth $57,000 after acquiring an additional 1,727 shares during the period. SG Americas Securities LLC purchased a new position in shares of Crescent Point Energy during the third quarter worth approximately $528,000. Bank of New York Mellon Corp increased its position in shares of Crescent Point Energy by 8.3% during the third quarter. Bank of New York Mellon Corp now owns 43,119 shares of the oil and gas producer’s stock worth $358,000 after acquiring an additional 3,298 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Crescent Point Energy by 14.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 100,095 shares of the oil and gas producer’s stock worth $834,000 after acquiring an additional 12,667 shares during the period. 49.37% of the stock is owned by hedge funds and other institutional investors.

Crescent Point Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a $0.086 dividend. This is a positive change from Crescent Point Energy’s previous quarterly dividend of $0.07. This represents a $0.34 dividend on an annualized basis 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 48.57%.

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.