Q3 2024 EPS Estimates for Crescent Point Energy Corp. Reduced by Analyst (TSE:CPG)

Crescent Point Energy Corp. (TSE:CPG) (NYSE:CPG) – Stock analysts at Atb Cap Markets lowered their Q3 2024 earnings per share (EPS) estimates for Crescent Point Energy in a research note issued to investors on Tuesday, May 7th. Atb Cap Markets analyst A. Arif now anticipates 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.

Other analysts have also issued research reports about the company. Canaccord Genuity Group increased their target price on Crescent Point Energy from C$14.00 to C$14.50 and gave the stock a “buy” rating in a research note on Tuesday. Stifel Nicolaus lifted their price objective on shares of Crescent Point Energy from C$14.25 to C$16.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Raymond James reduced their target price on shares of Crescent Point Energy from C$16.50 to C$14.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. CIBC boosted their price target on Crescent Point Energy from C$14.00 to C$15.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Finally, Desjardins raised their price objective on 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. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$14.70.

Crescent Point Energy Stock Performance

Crescent Point Energy stock opened at C$12.03 on Wednesday. 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 moving average price is C$11.35 and its 200-day moving average price is C$10.06. The company has a market cap of C$7.46 billion, a PE ratio of 8.24, a price-to-earnings-growth ratio of -0.59 and a beta of 2.86.

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 analysts’ consensus estimates of C$0.51 by C($0.14). Crescent Point Energy had a net margin of 17.88% and a return on equity of 11.97%. The firm had revenue of C$1.01 billion for the quarter, compared to the consensus estimate of C$1 billion.

Crescent Point Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Crescent Point Energy’s previous quarterly dividend of $0.02. Crescent Point Energy’s dividend payout ratio (DPR) is 31.51%.

Insider Activity

In other news, Senior Officer William Garret Holt bought 49,309 shares of Crescent Point Energy stock in a transaction on Friday, March 8th. The stock was acquired at an average cost of C$10.15 per share, for a total transaction of C$500,486.35. In other news, Senior Officer William Garret Holt purchased 49,309 shares of the business’s stock in a transaction on Friday, March 8th. The shares were acquired at an average cost 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 stock in a transaction 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.

About Crescent Point Energy

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.