Q2 2024 EPS Estimates for Crescent Point Energy Corp. (NYSE:CPG) Reduced by Analyst

Crescent Point Energy Corp. (NYSE:CPG) (TSE:CPG) – Stock analysts at Atb Cap Markets lowered their Q2 2024 earnings per share (EPS) estimates for Crescent Point Energy in a research note issued to investors on Monday, April 22nd. Atb Cap Markets analyst A. Arif now anticipates that the oil and gas producer will post earnings of $0.22 per share for the quarter, down from their prior estimate of $0.24. 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 $0.34 EPS and FY2024 earnings at $1.04 EPS.

Crescent Point Energy Trading Up 1.8 %

Shares of NYSE CPG opened at $9.01 on Wednesday. The business’s 50 day moving average is $7.93 and its two-hundred day moving average is $7.36. 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 stock has a market capitalization of $5.58 billion, a P/E ratio of 12.86 and a beta of 2.23.

Crescent Point Energy (NYSE:CPG) (TSE:CPG) last issued its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $0.27 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $743.70 million for the quarter, compared to the consensus estimate of $752.25 million.

Institutional Investors Weigh In On Crescent Point Energy

Several large investors have recently added to or reduced their stakes in CPG. Riverstone Holdings LLC bought a new stake in Crescent Point Energy during the fourth quarter worth approximately $289,379,000. Goldman Sachs Group Inc. grew its stake in shares of Crescent Point Energy by 1,534.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 9,277,441 shares of the oil and gas producer’s stock valued at $64,293,000 after buying an additional 8,709,962 shares during the last quarter. Ninepoint Partners LP grew its stake in shares of Crescent Point Energy by 100.0% during the third quarter. Ninepoint Partners LP now owns 16,000,000 shares of the oil and gas producer’s stock valued at $132,800,000 after buying an additional 8,000,000 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Crescent Point Energy during the fourth quarter valued at approximately $11,663,000. Finally, HarbourVest Partners LLC bought a new position in shares of Crescent Point Energy during the fourth quarter valued at approximately $11,620,000. 49.37% of the stock is owned by institutional investors.

Crescent Point Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a dividend of $0.086 per share. This is a boost from Crescent Point Energy’s previous quarterly dividend of $0.07. This represents a $0.34 annualized dividend and a yield of 3.82%. The ex-dividend date was Thursday, March 14th. Crescent Point Energy’s payout ratio is presently 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.