Atb Cap Markets Comments on Crescent Point Energy Corp.’s Q1 2024 Earnings (TSE:CPG)

Crescent Point Energy Corp. (TSE:CPG) (NYSE:CPG) – Equities researchers at Atb Cap Markets upped their Q1 2024 earnings per share (EPS) estimates for shares of Crescent Point Energy in a research report issued on Tuesday, May 7th. Atb Cap Markets analyst A. Arif now anticipates that the company will earn $0.32 per share for the quarter, up from their prior forecast of $0.29. 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 Q2 2024 earnings at $0.32 EPS.

A number of other equities research analysts have also recently weighed in on CPG. CIBC lifted their price objective on Crescent Point Energy from C$14.00 to C$15.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. BMO Capital Markets increased their target price on Crescent Point Energy from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a research note on Tuesday. Stifel Nicolaus increased their target price on Crescent Point Energy from C$14.25 to C$16.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. ATB Capital raised their price objective on Crescent Point Energy from C$12.00 to C$13.00 in a research note on Monday, April 22nd. Finally, National Bankshares raised their price objective on Crescent Point Energy from C$14.00 to C$19.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Crescent Point Energy presently has a consensus rating of “Buy” and an average price target of C$14.70.

Crescent Point Energy Price Performance

TSE:CPG opened at C$12.03 on Thursday. Crescent Point Energy has a one year low of C$8.16 and a one year high of C$12.67. 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 stock has a market cap of C$7.46 billion, a PE ratio of 8.24, a P/E/G ratio of -0.59 and a beta of 2.86. The stock has a 50 day moving average price of C$11.35 and a 200 day moving average price of C$10.06.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last posted its earnings results on Thursday, February 29th. The company reported C$0.37 EPS for the quarter, missing the consensus estimate of C$0.51 by C($0.14). The company had revenue of C$1.01 billion for the quarter, compared to analyst estimates of C$1 billion. Crescent Point Energy had a return on equity of 11.97% and a net margin of 17.88%.

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 dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 3.82%. This is a positive change from Crescent Point Energy’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Thursday, March 14th. Crescent Point Energy’s payout ratio is currently 31.51%.

Insider Activity

In other news, Senior Officer Mark Gordon Eade sold 34,497 shares of the company’s stock in a transaction that occurred 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 related news, Senior Officer Mark Gordon Eade sold 34,497 shares of the firm’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. Also, Senior Officer William Garret Holt acquired 49,309 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was purchased at an average price of C$10.15 per share, for a total transaction of C$500,486.35. 0.23% of the stock is owned by corporate insiders.

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.