Brokers Offer Predictions for Crescent Point Energy Corp.’s Q3 2024 Earnings (NYSE:CPG)

Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) – Equities researchers at Atb Cap Markets lowered their Q3 2024 earnings per share estimates for shares of Crescent Point Energy in a research report issued on Tuesday, May 7th. Atb Cap Markets analyst A. Arif now forecasts that the oil and gas producer will earn $0.24 per share for the quarter, down from their prior estimate of $0.28. 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 Q4 2024 earnings at $0.29 EPS, FY2024 earnings at $1.00 EPS, FY2025 earnings at $0.72 EPS, FY2026 earnings at $0.34 EPS, FY2027 earnings at $0.37 EPS and FY2028 earnings at $0.40 EPS.

Separately, BMO Capital Markets increased their target price on Crescent Point Energy from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.81.

Crescent Point Energy Stock Up 0.3 %

Shares of NYSE CPG opened at $8.85 on Wednesday. Crescent Point Energy has a 52-week low of $6.03 and a 52-week high of $9.28. The business’s 50 day moving average is $8.27 and its two-hundred day moving average is $7.40. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 12.64 and a beta of 2.17. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.46.

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 for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.11). Crescent Point Energy had a net margin of 15.40% and a return on equity of 13.27%. The company had revenue of $743.70 million for the quarter, compared to analyst estimates of $752.25 million.

Hedge Funds Weigh In On Crescent Point Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Blume Capital Management Inc. lifted its stake in Crescent Point Energy by 75.0% in the first quarter. Blume Capital Management Inc. now owns 3,500 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 1,500 shares during the last quarter. Penbrook Management LLC lifted its position in shares of Crescent Point Energy by 0.4% during the 4th 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 during 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 increased its holdings in Crescent Point Energy by 21.9% in the third quarter. Signaturefd LLC now owns 15,334 shares of the oil and gas producer’s stock valued at $127,000 after buying an additional 2,752 shares during the last quarter. Finally, FourThought Financial Partners LLC raised its stake in Crescent Point Energy by 9.7% in the fourth quarter. FourThought Financial Partners LLC now owns 32,311 shares of the oil and gas producer’s stock valued at $224,000 after buying an additional 2,844 shares in the last quarter. 49.37% of the stock is owned by institutional investors and hedge funds.

Crescent Point Energy Increases Dividend

The business 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. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.34 dividend on an annualized basis and a yield of 3.89%. This is a positive change from Crescent Point Energy’s previous quarterly dividend of $0.07. Crescent Point Energy’s dividend payout ratio (DPR) is currently 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.