Research Analysts Set Expectations for Crescent Point Energy Corp.'s Q2 2024 Earnings (NYSE:CPG)

Crescent Point Energy Corp. (NYSE:CPG - Free Report) TSE: CPG - Equities researchers at Atb Cap Markets cut their Q2 2024 earnings estimates for shares of 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 previous 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 Price Performance

NYSE CPG remained flat at $8.86 during mid-day trading on Wednesday. The company had a trading volume of 4,472,573 shares, compared to its average volume of 5,819,702. Crescent Point Energy has a 12-month low of $6.03 and a 12-month high of $9.07. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $7.88 and a 200 day moving average price of $7.35. The firm has a market cap of $5.49 billion, a P/E ratio of 12.64 and a beta of 2.23.

Crescent Point Energy (NYSE:CPG - Get Free Report) TSE: CPG last issued its earnings results on Thursday, February 29th. The oil and gas producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.11). The company had revenue of $743.70 million during the quarter, compared to analysts' expectations of $752.25 million. Crescent Point Energy had a net margin of 15.40% and a return on equity of 13.27%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CPG. Riverstone Holdings LLC purchased a new stake in shares of Crescent Point Energy during the fourth quarter worth about $289,379,000. Franklin Resources Inc. boosted its position in Crescent Point Energy by 5.0% during the fourth quarter. Franklin Resources Inc. now owns 25,945,226 shares of the oil and gas producer's stock worth $179,949,000 after acquiring an additional 1,229,117 shares during the last quarter. Vanguard Group Inc. grew its stake in Crescent Point Energy by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 20,410,351 shares of the oil and gas producer's stock worth $141,444,000 after acquiring an additional 1,521,382 shares during the period. Ninepoint Partners LP raised its holdings in Crescent Point Energy by 18.8% in the 4th quarter. Ninepoint Partners LP now owns 19,000,000 shares of the oil and gas producer's stock valued at $131,670,000 after acquiring an additional 3,000,000 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Crescent Point Energy by 14.4% during the 4th quarter. CIBC Asset Management Inc now owns 12,213,750 shares of the oil and gas producer's stock worth $84,981,000 after purchasing an additional 1,537,494 shares during the period. 49.37% of the stock is currently owned by institutional investors and hedge funds.

Crescent Point Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a dividend of $0.086 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 3.88%. This is a boost from Crescent Point Energy's previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Thursday, March 14th. Crescent Point Energy's dividend payout ratio (DPR) is 47.14%.

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.