FY2017 Earnings Forecast for Crescent Point Energy Corporation Issued By Cormark (CPG)

Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) – Stock analysts at Cormark decreased their FY2017 earnings per share (EPS) estimates for Crescent Point Energy Corporation in a note issued to investors on Tuesday. Cormark analyst A. Arif now forecasts that the oil and gas producer will post earnings per share of $0.34 for the year, down from their previous forecast of $0.38. Cormark also issued estimates for Crescent Point Energy Corporation’s Q4 2017 earnings at $0.06 EPS, Q1 2018 earnings at $0.02 EPS, Q2 2018 earnings at $0.02 EPS, Q4 2018 earnings at $0.00 EPS and FY2019 earnings at $0.14 EPS.

Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) last released its quarterly earnings data on Thursday, July 27th. The oil and gas producer reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08. The business had revenue of $605.03 million during the quarter, compared to the consensus estimate of $602.04 million. Crescent Point Energy Corporation had a positive return on equity of 1.83% and a negative net margin of 13.80%. During the same quarter in the prior year, the company posted $0.03 earnings per share.

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Several other brokerages also recently commented on CPG. ValuEngine raised Crescent Point Energy Corporation from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. BidaskClub downgraded Crescent Point Energy Corporation from a “sell” rating to a “strong sell” rating in a report on Sunday, August 6th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $14.00 target price on shares of Crescent Point Energy Corporation in a report on Monday, September 25th. Zacks Investment Research downgraded Crescent Point Energy Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 27th. Finally, Scotiabank reaffirmed a “buy” rating and set a $17.00 target price on shares of Crescent Point Energy Corporation in a report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $13.33.

The firm also recently disclosed a monthly dividend, which was paid on Monday, October 16th. Stockholders of record on Saturday, September 30th were given a $0.025 dividend. The ex-dividend date was Thursday, September 28th. This is a positive change from Crescent Point Energy Corporation’s previous monthly dividend of $0.02. This represents a $0.30 annualized dividend and a dividend yield of 3.99%. Crescent Point Energy Corporation’s dividend payout ratio (DPR) is -50.00%.

Several hedge funds have recently bought and sold shares of CPG. Bank of New York Mellon Corp raised its position in shares of Crescent Point Energy Corporation by 6.9% in the 1st quarter. Bank of New York Mellon Corp now owns 719,867 shares of the oil and gas producer’s stock worth $7,789,000 after acquiring an additional 46,778 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Crescent Point Energy Corporation by 24.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 109,681 shares of the oil and gas producer’s stock worth $1,187,000 after acquiring an additional 21,795 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Crescent Point Energy Corporation by 1.6% in the 1st quarter. JPMorgan Chase & Co. now owns 460,257 shares of the oil and gas producer’s stock worth $4,979,000 after acquiring an additional 7,246 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Crescent Point Energy Corporation in the 1st quarter worth about $187,000. Finally, Alliancebernstein L.P. raised its position in shares of Crescent Point Energy Corporation by 59.7% in the 1st quarter. Alliancebernstein L.P. now owns 71,302 shares of the oil and gas producer’s stock worth $771,000 after acquiring an additional 26,665 shares in the last quarter. 38.98% of the stock is owned by hedge funds and other institutional investors.

About Crescent Point Energy Corporation

Crescent Point Energy Corp. acquires, explores, develops, and produces light and medium oil and natural gas properties in Western Canada and the United States. The company's crude oil and natural gas properties, and related assets are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota, Montana, Colorado, and Utah.

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

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