Crescent Energy (NYSE:CRGY) Now Covered by Analysts at William Blair

William Blair assumed coverage on shares of Crescent Energy (NYSE:CRGY) in a report issued on Monday, Marketbeat reports. The firm issued an outperform rating on the stock.

A number of other research firms also recently commented on CRGY. Piper Sandler boosted their price target on Crescent Energy from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Wells Fargo & Company cut their price target on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, June 16th. Mizuho decreased their price objective on Crescent Energy from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $14.00 target price (down from $16.00) on shares of Crescent Energy in a research report on Friday. Finally, Zacks Research lowered Crescent Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.70.

Crescent Energy Stock Performance

NYSE CRGY opened at $9.53 on Monday. Crescent Energy has a 52-week low of $6.83 and a 52-week high of $16.94. The firm has a 50-day moving average of $9.13 and a 200-day moving average of $9.79. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $2.43 billion, a PE ratio of -52.94 and a beta of 1.86.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Monday, August 4th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.20. The company had revenue of $897.98 million for the quarter, compared to analyst estimates of $868.34 million. Crescent Energy had a return on equity of 13.35% and a net margin of 0.67%. On average, sell-side analysts anticipate that Crescent Energy will post 0.77 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a $0.12 dividend. The ex-dividend date is Monday, August 18th. This represents a $0.48 annualized dividend and a dividend yield of 5.0%. Crescent Energy’s payout ratio is currently -266.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group increased its stake in Crescent Energy by 1,110.3% in the first quarter. Brooklyn Investment Group now owns 2,457 shares of the company’s stock valued at $28,000 after purchasing an additional 2,254 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Crescent Energy by 35.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company’s stock valued at $40,000 after buying an additional 705 shares during the period. Allworth Financial LP bought a new stake in Crescent Energy in the 1st quarter valued at about $34,000. Quarry LP raised its stake in Crescent Energy by 263.4% during the 4th quarter. Quarry LP now owns 4,353 shares of the company’s stock worth $64,000 after buying an additional 3,155 shares during the period. Finally, GAMMA Investing LLC raised its stake in Crescent Energy by 287.3% during the 2nd quarter. GAMMA Investing LLC now owns 9,585 shares of the company’s stock worth $82,000 after buying an additional 7,110 shares during the period. 52.11% of the stock is owned by institutional investors.

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.