Atb Cap Markets Equities Analysts Cut Earnings Estimates for Crescent Point Energy Corp. (TSE:CPG)

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

Several other equities research analysts have also weighed in on the company. Stifel Nicolaus upped their price objective on Crescent Point Energy from C$14.25 to C$16.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. BMO Capital Markets increased their price objective 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. National Bankshares lifted their price objective on Crescent Point Energy from C$14.00 to C$19.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Desjardins upped 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 report on Tuesday, April 23rd. Finally, Raymond James cut their price target on shares of Crescent Point Energy from C$16.50 to C$14.00 and set an “outperform” rating for the company in a report on Friday, January 19th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$14.70.

Crescent Point Energy Stock Performance

TSE CPG opened at C$12.15 on Wednesday. The stock has a market cap of C$7.53 billion, a P/E ratio of 8.32, a PEG ratio of -0.59 and a beta of 2.86. The company has a quick ratio of 0.49, a current ratio of 0.76 and a debt-to-equity ratio of 54.04. Crescent Point Energy has a twelve month low of C$8.16 and a twelve month high of C$12.67. The company’s 50-day simple moving average is C$11.26 and its 200 day simple moving average is C$10.04.

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). The business had revenue of C$1.01 billion during the quarter, compared to the consensus estimate of C$1 billion. Crescent Point Energy had a net margin of 17.88% and a return on equity of 11.97%.

Crescent Point Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.115 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.79%. This is a positive change from Crescent Point Energy’s previous quarterly dividend of $0.02. Crescent Point Energy’s dividend payout ratio (DPR) is currently 31.51%.

Insiders Place Their Bets

In related news, Senior Officer Mark Gordon Eade sold 34,497 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of C$11.83, for a total value of C$408,099.51. In other Crescent Point Energy news, Senior Officer William Garret Holt purchased 49,309 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were bought at an average price of C$10.15 per share, with a total value of C$500,486.35. Also, 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. Company insiders own 0.23% of the company’s stock.

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.