Crescent Point Energy Corp. Expected to Earn Q1 2024 Earnings of $0.29 Per Share (TSE:CPG)

Crescent Point Energy Corp. (TSE:CPG - Free Report) NYSE: CPG - Research analysts at Atb Cap Markets cut their Q1 2024 earnings per share estimates for Crescent Point Energy in a research report issued to clients and investors on Monday, April 22nd. Atb Cap Markets analyst A. Arif now anticipates that the company will post earnings per share of $0.29 for the quarter, down from their previous forecast of $0.31. 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 Q2 2024 earnings at $0.30 EPS, Q3 2024 earnings at $0.38 EPS, Q4 2024 earnings at $0.46 EPS, FY2024 earnings at $1.42 EPS and FY2026 earnings at $0.58 EPS.

CPG has been the subject of a number of other research reports. BMO Capital Markets increased their price target on Crescent Point Energy from C$12.00 to C$13.00 and gave the stock an "outperform" rating in a research note on Thursday, March 21st. Raymond James cut their target price on Crescent Point Energy from C$16.50 to C$14.00 and set an "outperform" rating for the company in a research report on Friday, January 19th. Desjardins lifted their target price on Crescent Point Energy from C$12.50 to C$14.00 and gave the company a "buy" rating in a research note on Tuesday. National Bankshares upped their price target on Crescent Point Energy from C$14.00 to C$19.00 and gave the stock an "outperform" rating in a research note on Friday, April 19th. Finally, 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 research report on Tuesday. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Crescent Point Energy presently has a consensus rating of "Buy" and an average price target of C$14.55.

Crescent Point Energy Price Performance

Shares of CPG stock traded up C$0.03 on Wednesday, hitting C$12.13. 2,700,426 shares of the stock traded hands, compared to its average volume of 3,393,543. The company has a debt-to-equity ratio of 54.04, a current ratio of 0.76 and a quick ratio of 0.49. Crescent Point Energy has a 52 week low of C$8.16 and a 52 week high of C$12.47. The firm has a 50 day simple moving average of C$10.70 and a two-hundred day simple moving average of C$9.96. The firm has a market cap of C$7.52 billion, a price-to-earnings ratio of 8.29, a PEG ratio of -0.59 and a beta of 2.86.

Crescent Point Energy (TSE:CPG - Get Free Report) NYSE: CPG last released 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). The firm had revenue of C$1.01 billion for the quarter, compared to the consensus estimate of C$1 billion. Crescent Point Energy had a return on equity of 11.97% and a net margin of 17.88%.

Insider Buying and Selling at Crescent Point Energy

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

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 $0.115 per share. This is a boost from Crescent Point Energy's previous quarterly dividend of $0.02. This represents a $0.46 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Thursday, March 14th. Crescent Point Energy's payout ratio is presently 31.51%.

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.