Brokerages Set Crescent Energy Company (NYSE:CRGY) Price Target at $13.13

Shares of Crescent Energy Company (NYSE:CRGY) have been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $13.7778.

CRGY has been the subject of a number of research reports. BMO Capital Markets initiated coverage on Crescent Energy in a report on Friday, January 9th. They set a “market perform” rating and a $10.00 price objective for the company. JPMorgan Chase & Co. upgraded Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 target price on the stock in a research note on Friday. Wells Fargo & Company upped their price target on Crescent Energy from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 17th. Zacks Research raised shares of Crescent Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 20th. Finally, William Blair reiterated an “outperform” rating on shares of Crescent Energy in a report on Friday, March 6th.

Crescent Energy Price Performance

Shares of NYSE CRGY opened at $12.51 on Thursday. The company has a fifty day moving average price of $10.40 and a 200 day moving average price of $9.32. The firm has a market cap of $4.10 billion, a PE ratio of 24.05 and a beta of 1.57. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.07. Crescent Energy has a 1-year low of $6.83 and a 1-year high of $12.94.

Crescent Energy (NYSE:CRGY) last released 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 firm had revenue of $865.05 million for the quarter, compared to the consensus estimate of $884.64 million. Crescent Energy had a return on equity of 8.36% and a net margin of 3.71%. Research analysts predict that Crescent Energy will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th will be given 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 3.8%. Crescent Energy’s dividend payout ratio (DPR) is 92.31%.

Institutional Investors Weigh In On Crescent Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRGY. Caitlin John LLC acquired a new position in shares of Crescent Energy during the 3rd quarter worth about $27,000. Nisa Investment Advisors LLC increased its position in shares of Crescent Energy by 50.2% in the third quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock valued at $33,000 after acquiring an additional 1,241 shares during the last quarter. Fifth Third Bancorp raised its holdings in Crescent Energy by 109.3% during the fourth quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock worth $33,000 after acquiring an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Crescent Energy by 134.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock worth $33,000 after acquiring an additional 2,286 shares in the last quarter. Finally, Quarry LP boosted its position in Crescent Energy by 303.5% during 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 during the last quarter. 52.11% of the stock is owned by institutional investors.

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.