Crescent Point Energy Corp. (NYSE:CPG) Expected to Earn Q3 2024 Earnings of $0.19 Per Share

Crescent Point Energy Corp. (NYSE:CPGFree Report) (TSE:CPG) – Analysts at Atb Cap Markets dropped their Q3 2024 earnings per share estimates for shares of Crescent Point Energy in a research note issued to investors on Monday, May 13th. Atb Cap Markets analyst A. Arif now anticipates that the oil and gas producer will post earnings of $0.19 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 $1.04 per share. Atb Cap Markets also issued estimates for Crescent Point Energy’s Q4 2024 earnings at $0.23 EPS.

Separately, BMO Capital Markets lifted their price target on shares of Crescent Point Energy from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Crescent Point Energy has a consensus rating of “Moderate Buy” and a consensus price target of $13.81.

Read Our Latest Research Report on Crescent Point Energy

Crescent Point Energy Trading Down 1.1 %

CPG opened at $8.61 on Tuesday. 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 has a twelve month low of $6.03 and a twelve month high of $9.28. The company has a 50-day simple moving average of $8.38 and a 200 day simple moving average of $7.42.

Crescent Point Energy (NYSE:CPGGet Free Report) (TSE:CPG) last announced 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 business had revenue of $743.70 million for the quarter, compared to analyst estimates of $752.25 million. Crescent Point Energy had a positive return on equity of 12.89% and a negative net margin of 1.95%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MQS Management LLC increased its position in shares of Crescent Point Energy by 112.3% during the 1st quarter. MQS Management LLC now owns 113,103 shares of the oil and gas producer’s stock valued at $926,000 after purchasing an additional 59,840 shares during the last quarter. Gagnon Securities LLC purchased a new stake in Crescent Point Energy during the first quarter worth about $3,866,000. Gagnon Advisors LLC purchased a new stake in Crescent Point Energy during the first quarter worth about $3,287,000. Seven Eight Capital LP bought a new stake in Crescent Point Energy in the first quarter worth about $262,000. Finally, Capital Management Corp VA purchased a new position in Crescent Point Energy in the first quarter valued at about $11,283,000. 49.37% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Point Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Saturday, June 15th will be issued a dividend of $0.083 per share. This represents a $0.33 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend is Friday, June 14th. Crescent Point Energy’s dividend payout ratio is currently -424.95%.

About Crescent Point Energy

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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.

Further Reading

Earnings History and Estimates for Crescent Point Energy (NYSE:CPG)

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