Crescent Energy (NYSE:CRGY) Downgraded to Moderate Buy Rating by Johnson Rice

Johnson Rice cut shares of Crescent Energy (NYSE:CRGY) from a strong-buy rating to a moderate buy rating in a research report released on Tuesday,Zacks.com reports.

Several other research firms have also recently issued reports on CRGY. William Blair reissued an “outperform” rating on shares of Crescent Energy in a research report on Friday, March 6th. Evercore started coverage on shares of Crescent Energy in a research report on Tuesday, December 16th. They set an “outperform” rating and a $13.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of Crescent Energy from $13.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, March 17th. Jefferies Financial Group reiterated a “hold” rating and issued a $9.00 price target on shares of Crescent Energy in a report on Sunday, January 25th. Finally, Piper Sandler increased their price objective on Crescent Energy from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Crescent Energy has an average rating of “Moderate Buy” and an average price target of $14.30.

Crescent Energy Stock Performance

CRGY stock opened at $13.52 on Tuesday. Crescent Energy has a twelve month low of $6.83 and a twelve month high of $13.57. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 25.99 and a beta of 1.57. The business’s fifty day simple moving average is $10.59 and its two-hundred day simple moving average is $9.38. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.07.

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

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.6%. The ex-dividend date was Wednesday, March 11th. Crescent Energy’s dividend payout ratio is presently 92.31%.

Institutional Investors Weigh In On Crescent Energy

Large investors have recently modified their holdings of the business. CM Management LLC bought a new position in shares of Crescent Energy in the 3rd quarter worth $1,561,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Crescent Energy during the third quarter valued at about $1,034,000. Public Sector Pension Investment Board boosted its position in Crescent Energy by 15.7% during the third quarter. Public Sector Pension Investment Board now owns 724,991 shares of the company’s stock valued at $6,467,000 after purchasing an additional 98,428 shares in the last quarter. Capital Fund Management S.A. grew its stake in Crescent Energy by 346.3% in the second quarter. Capital Fund Management S.A. now owns 439,593 shares of the company’s stock valued at $3,780,000 after purchasing an additional 341,101 shares during the last quarter. Finally, Kore Advisors LP grew its stake in Crescent Energy by 17.0% in the second quarter. Kore Advisors LP now owns 1,479,256 shares of the company’s stock valued at $12,722,000 after purchasing an additional 214,939 shares during the last quarter. Institutional investors own 52.11% of the company’s stock.

About Crescent Energy

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.