Crescent Energy (CRGY) Scheduled to Post Quarterly Earnings on Monday

Crescent Energy (NYSE:CRGY) is set to announce its earnings results after the market closes on Monday, May 6th. Analysts expect the company to announce earnings of $0.16 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Monday, March 4th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.37. The firm had revenue of $657.73 million during the quarter, compared to the consensus estimate of $584.12 million. Crescent Energy had a net margin of 2.84% and a return on equity of 13.30%. On average, analysts expect Crescent Energy to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Crescent Energy Stock Performance

NYSE CRGY opened at $10.57 on Friday. The company’s fifty day moving average is $11.24 and its two-hundred day moving average is $11.51. Crescent Energy has a 52-week low of $9.17 and a 52-week high of $14.22. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 8.19 and a beta of 2.29.

Crescent Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date of this dividend was Thursday, March 14th. Crescent Energy’s dividend payout ratio (DPR) is presently 37.21%.

Insider Activity

In related news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $9.87, for a total transaction of $136,206,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CRGY has been the subject of several recent research reports. Tudor, Pickering, Holt & Co. began coverage on Crescent Energy in a report on Wednesday, April 10th. They issued a “buy” rating and a $18.00 price target for the company. Mizuho restated a “neutral” rating and issued a $13.00 target price (down from $14.00) on shares of Crescent Energy in a research note 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. Raymond James lowered their price target 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. Finally, Stephens reaffirmed an “overweight” rating and set a $17.00 price objective on shares of Crescent Energy in a report on Tuesday, March 5th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Crescent Energy currently has a consensus rating of “Buy” and an average target price of $16.38.

About Crescent Energy

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 Eagle Ford and Uinta basins. The company is based in Houston, Texas.