Crescent Energy Company (NYSE:CRGY) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Crescent Energy Company (NYSE:CRGY) have been given a consensus recommendation of “Moderate Buy” by the sixteen research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $16.3333.

CRGY has been the subject of a number of analyst reports. KeyCorp restated an “overweight” rating and issued a $19.00 price target on shares of Crescent Energy in a research report on Thursday, June 11th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $19.00 target price on shares of Crescent Energy in a research note on Monday, August 3rd. Morgan Stanley cut shares of Crescent Energy to an “underweight” rating in a research report on Monday, August 3rd. Wells Fargo & Company raised their price objective on shares of Crescent Energy from $18.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Finally, UBS Group boosted their target price on shares of Crescent Energy from $13.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 6th.

Crescent Energy Stock Performance

NYSE:CRGY opened at $13.79 on Friday. The company’s 50-day moving average price is $10.86 and its 200-day moving average price is $11.64. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.00. The company has a market cap of $4.56 billion, a P/E ratio of -275.74 and a beta of 1.41. Crescent Energy has a twelve month low of $7.68 and a twelve month high of $14.29.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.26 billion. Crescent Energy had a net margin of 1.27% and a return on equity of 10.52%. Crescent Energy’s revenue was up 55.3% compared to the same quarter last year. On average, sell-side analysts forecast that Crescent Energy will post 2.07 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, August 17th. Crescent Energy’s dividend payout ratio is presently -960.00%.

Hedge Funds Weigh In On Crescent Energy

Several large investors have recently modified their holdings of CRGY. Strs Ohio purchased a new stake in Crescent Energy in the 1st quarter valued at about $32,000. Fifth Third Bancorp increased its position in shares of Crescent Energy by 109.3% during the fourth quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock valued at $33,000 after acquiring an additional 2,039 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Crescent Energy by 134.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock valued at $33,000 after acquiring an additional 2,286 shares during the period. Quarry LP lifted its holdings in shares of Crescent Energy by 303.5% in the 3rd quarter. Quarry LP now owns 4,152 shares of the company’s stock worth $37,000 after acquiring an additional 3,123 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Crescent Energy by 42.3% in the 4th quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock worth $40,000 after acquiring an additional 1,401 shares during the last quarter. Institutional investors and hedge funds 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.