1. Homepage
  2. Equities
  3. Canada
  4. Toronto Stock Exchange
  5. Crescent Point Energy Corp.
  6. News
  7. Summary
    CPG   CA22576C1014

CRESCENT POINT ENERGY CORP.

(CPG)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Crescent Point Energy raises dividend and production guidance for 2022

12/06/2021 | 07:36am EDT

CALGARYCrescent Point Energy Corp. raised its quarterly dividend as it increased its production guidance for next year.

The company says it will pay a quarterly dividend of 4.5 cents per share on April 1 to shareholders of record as of March 15, up from its fourth-quarter dividend of three cents.

In addition to increasing its dividend, Crescent Point also plans to spend up to $100 million on share repurchases over the following six months.

The moves came as the company said it expects production next year to be between 133,000 and 137,000 barrels of oil equivalent per day, up from its preliminary estimate for the year of 131,000 to 135,000 boepd.

Crescent Point's capital budget for next year calls for spending between $825 million to $900 million, unchanged from its preliminary 2022 guidance.

Crescent Point chief executive Craig Bryksa says the company has established a disciplined budget for 2022 and expects to generate strong returns and significant excess cash flow for shareholders.

"As a result, we are accelerating our plans to return additional capital to shareholders in the form of another dividend increase and share repurchases," Bryksa said in a statement.

"As we continue to strengthen our balance sheet, we expect to further increase our return of capital offering to shareholders in the context of our capital allocation framework."

This report by The Canadian Press was first published Dec. 6, 2021.

Companies in this story: (TSX:CPG)

© 2021 The Canadian Press. All rights reserved., source Canadian Press DataFile

All news about CRESCENT POINT ENERGY CORP.
09:31aScotiabank Lists Oil, Gas, E&P Companies That May Increase Dividends
MT
05/19CRESCENT POINT ENERGY : Announces Annual General Meeting Results - Form 6-K
PU
05/19Crescent Point Announces Annual General Meeting Results
PR
05/19Crescent Point Announces Annual General Meeting Results
AQ
05/19Crescent Point Energy Corp. Elects Mindy Wight as Director
CI
05/19TRANSCRIPT : Crescent Point Energy Corp. - Shareholder/Analyst Call
CI
05/18Scotiabank Details WTI Breakeven Analysis
MT
05/13Crescent Point Energy Outperform Rating Reiterated at BMO Capital Following Q1 Results
MT
05/13Scotiabank Says Crescent Point Energy's Q1 Results In Line With Estimates
MT
05/12Crescent Point reports $1.18B Q1 profit, raises quarterly dividend
AQ
More news
Analyst Recommendations on CRESCENT POINT ENERGY CORP.
More recommendations
Financials
Sales 2022 4 554 M 3 542 M 3 542 M
Net income 2022 2 091 M 1 626 M 1 626 M
Net Debt 2022 978 M 761 M 761 M
P/E ratio 2022 2,82x
Yield 2022 2,09%
Capitalization 5 893 M 4 583 M 4 583 M
EV / Sales 2022 1,51x
EV / Sales 2023 1,47x
Nbr of Employees 748
Free-Float 99,9%
Chart CRESCENT POINT ENERGY CORP.
Duration : Period :
Crescent Point Energy Corp. Technical Analysis Chart | CPG | CA22576C1014 | MarketScreener
Technical analysis trends CRESCENT POINT ENERGY CORP.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 10,31 CAD
Average target price 14,12 CAD
Spread / Average Target 36,9%
EPS Revisions
Managers and Directors
Craig Bryksa President, Chief Executive Officer & Director
Kenneth R. Lamont Chief Financial Officer
Barbara Munroe Chairman
Justin Foraie Vice President-Engineering & Marketing
Ryan Gritzfeldt Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
CRESCENT POINT ENERGY CORP.52.74%4 583
CONOCOPHILLIPS51.68%138 936
EOG RESOURCES, INC.45.50%75 703
CANADIAN NATURAL RESOURCES LIMITED54.28%74 025
CNOOC LIMITED39.73%67 535
PIONEER NATURAL RESOURCES COMPANY49.14%65 631