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

Crescent Energy (NYSE:CRGY) has received a consensus rating of “Buy” from the seven analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $16.25.

CRGY has been the topic of several research analyst reports. Tudor, Pickering, Holt & Co. assumed coverage on shares of Crescent Energy in a report on Wednesday, April 10th. They issued a “buy” rating and a $18.00 price target on the stock. Mizuho reissued a “neutral” rating and issued a $13.00 target price (down previously from $14.00) on shares of Crescent Energy in a research report on Friday, March 22nd. TheStreet upgraded shares of Crescent Energy from a “d” rating to a “c-” rating in a research note on Wednesday, February 14th. Truist Financial dropped their price objective on shares of Crescent Energy from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Finally, Raymond James lowered their target price on shares of Crescent Energy from $16.00 to $15.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th.

Crescent Energy Stock Performance

Shares of NYSE CRGY opened at $11.05 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50 day moving average price of $11.29 and a 200 day moving average price of $11.56. The stock has a market capitalization of $1.98 billion, a PE ratio of 8.56 and a beta of 2.24. Crescent Energy has a 52 week low of $9.17 and a 52 week high of $14.22.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, March 4th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.21 by $0.37. The company had revenue of $657.73 million during the quarter, compared to the consensus estimate of $584.12 million. Crescent Energy had a return on equity of 13.30% and a net margin of 2.84%. Analysts predict that Crescent Energy will post 0.98 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.12 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 4.35%. Crescent Energy’s payout ratio is 37.21%.

Insider Transactions at Crescent Energy

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $9.87, for a total transaction of $136,206,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Crescent Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in shares of Crescent Energy by 186.5% during the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock worth $54,000 after purchasing an additional 2,934 shares during the period. Virtus Fund Advisers LLC bought a new position in shares of Crescent Energy during the fourth quarter worth about $62,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Crescent Energy in the second quarter worth approximately $64,000. Amalgamated Bank lifted its stake in shares of Crescent Energy by 31.1% in the fourth quarter. Amalgamated Bank now owns 6,854 shares of the company’s stock worth $82,000 after acquiring an additional 1,626 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in Crescent Energy by 227.3% in the third quarter. Tower Research Capital LLC TRC now owns 6,591 shares of the company’s stock valued at $88,000 after acquiring an additional 4,577 shares during the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Company Profile

Crescent Energy Company, an energy company, acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven regions, including the Eagle Ford, Marcellus, Utica, and Rockies in the United States.