Crescent Energy (NYSE:CRGY) Shares Gap Up – Time to Buy?

Crescent Energy Company (NYSE:CRGY)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $11.66, but opened at $12.32. Crescent Energy shares last traded at $12.0870, with a volume of 1,532,105 shares trading hands.

Analyst Upgrades and Downgrades

CRGY has been the subject of a number of recent analyst reports. Zacks Research raised Crescent Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. Jefferies Financial Group reiterated a “hold” rating and set a $9.00 price target on shares of Crescent Energy in a research report on Sunday, January 25th. Piper Sandler lowered their price target on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Wall Street Zen cut shares of Crescent Energy from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Evercore began coverage on Crescent Energy in a report on Tuesday, December 16th. They set an “outperform” rating and a $13.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.90.

Crescent Energy Trading Down 6.5%

The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 21.60 and a beta of 1.57. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.07. The firm’s 50 day moving average is $9.34 and its 200 day moving average is $9.07.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.19. The company had revenue of $865.05 million for the quarter, compared to analysts’ expectations of $884.64 million. Crescent Energy had a return on equity of 8.36% and a net margin of 3.71%. Equities analysts forecast that Crescent Energy Company will post 0.77 earnings per share for the current year.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.48 dividend on an annualized basis and a yield of 4.3%. Crescent Energy’s dividend payout ratio (DPR) is currently 92.31%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CRGY. Caitlin John LLC purchased a new position in shares of Crescent Energy in the third quarter worth approximately $27,000. Nisa Investment Advisors LLC boosted its stake in Crescent Energy by 50.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock worth $33,000 after purchasing an additional 1,241 shares during the period. Fifth Third Bancorp grew its position in Crescent Energy by 109.3% during the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock worth $33,000 after purchasing an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Crescent Energy by 134.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock valued at $33,000 after purchasing an additional 2,286 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Crescent Energy by 303.5% in the third quarter. Quarry LP now owns 4,152 shares of the company’s stock valued at $37,000 after purchasing an additional 3,123 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Company Profile

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.