Crescent Energy (NYSE:CRGY) Receives $16.40 Consensus Price Target from Analysts

Crescent Energy (NYSE:CRGY) has been given an average recommendation of “Buy” by the nine ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $16.40.

A number of equities research analysts recently weighed in on CRGY shares. Mizuho raised their price target on Crescent Energy from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Wells Fargo & Company raised their target price on Crescent Energy from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Truist Financial reduced their price target on shares of Crescent Energy from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Wolfe Research initiated coverage on shares of Crescent Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $16.00 price objective for the company. Finally, Tudor, Pickering, Holt & Co. started coverage on shares of Crescent Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $18.00 target price on the stock.

Crescent Energy Stock Up 3.5 %

CRGY opened at $12.23 on Friday. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -61.15 and a beta of 2.32. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. The firm’s 50-day simple moving average is $12.14 and its 200-day simple moving average is $11.59. Crescent Energy has a twelve month low of $10.11 and a twelve month high of $14.22.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.28. Crescent Energy had a negative net margin of 0.67% and a positive return on equity of 12.90%. The firm had revenue of $657.47 million for the quarter, compared to analysts’ expectations of $579.44 million. Equities research analysts anticipate that Crescent Energy will post 1.53 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Tuesday, May 21st were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend was Monday, May 20th. Crescent Energy’s dividend payout ratio (DPR) is presently -240.00%.

Hedge Funds Weigh In On Crescent Energy

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Crescent Energy by 94.1% during the 3rd quarter. Vanguard Group Inc. now owns 7,641,227 shares of the company’s stock valued at $96,585,000 after acquiring an additional 3,705,389 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in Crescent Energy in the first quarter valued at about $2,877,000. GSA Capital Partners LLP lifted its stake in Crescent Energy by 901.7% in the first quarter. GSA Capital Partners LLP now owns 100,681 shares of the company’s stock valued at $1,198,000 after buying an additional 90,630 shares during the period. Janney Montgomery Scott LLC bought a new position in Crescent Energy during the fourth quarter worth about $1,393,000. Finally, Northside Capital Management LLC acquired a new position in shares of Crescent Energy during the 1st quarter worth about $4,453,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

About Crescent Energy

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.