Crescent Energy (NYSE:CRGY) Given Average Rating of “Buy” by Analysts

Shares of Crescent Energy (NYSE:CRGY) have been given an average rating of “Buy” by the eleven analysts that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $17.20.

CRGY has been the topic of several recent research reports. Stephens upped their price objective on Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Pickering Energy Partners initiated coverage on shares of Crescent Energy in a report on Monday, October 28th. They issued an “outperform” rating on the stock. Truist Financial lifted their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Mizuho upped their price objective on shares of Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company lowered their target price on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, October 21st.

Institutional Investors Weigh In On Crescent Energy

A number of institutional investors have recently added to or reduced their stakes in CRGY. Pacer Advisors Inc. acquired a new position in Crescent Energy during the fourth quarter valued at approximately $170,905,000. Toth Financial Advisory Corp acquired a new position in shares of Crescent Energy during the 4th quarter valued at $131,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Crescent Energy by 2.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 37,831 shares of the company’s stock valued at $553,000 after acquiring an additional 897 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in Crescent Energy during the 4th quarter worth $312,000. Finally, GAMMA Investing LLC increased its holdings in Crescent Energy by 48.3% in the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock valued at $73,000 after purchasing an additional 1,621 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Stock Performance

NYSE:CRGY opened at $16.17 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $3.69 billion, a P/E ratio of 26.07 and a beta of 2.17. The firm has a 50-day moving average price of $14.85 and a two-hundred day moving average price of $12.91. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $16.94.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.11. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The business had revenue of $744.87 million during the quarter, compared to analysts’ expectations of $793.88 million. During the same period last year, the company posted $0.35 EPS. As a group, research analysts expect that Crescent Energy will post 0.84 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a dividend of $0.12 per share. The ex-dividend date was Monday, November 18th. This represents a $0.48 annualized dividend and a dividend yield of 2.97%. Crescent Energy’s dividend payout ratio is presently 77.42%.

Crescent Energy Company Profile

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.