Crescent Energy Company (NYSE:CRGY) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Crescent Energy Company (NYSE:CRGY) have been assigned an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $16.00.

CRGY has been the topic of a number of research reports. Piper Sandler upped their target price on shares of Crescent Energy from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. Raymond James Financial set a $17.00 price objective on shares of Crescent Energy and gave the company a “strong-buy” rating in a research report on Wednesday. Wells Fargo & Company reduced their price target on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, June 16th. Wall Street Zen upgraded Crescent Energy from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Zacks Research cut Crescent Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st.

Institutional Trading of Crescent Energy

Large investors have recently modified their holdings of the stock. Brooklyn Investment Group raised its position in shares of Crescent Energy by 1,110.3% in the 1st quarter. Brooklyn Investment Group now owns 2,457 shares of the company’s stock valued at $28,000 after buying an additional 2,254 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Crescent Energy by 35.3% in the fourth 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 acquired a new position in shares of Crescent Energy during the first quarter worth $34,000. GAMMA Investing LLC raised its position in shares of Crescent Energy by 287.3% during the second quarter. GAMMA Investing LLC now owns 9,585 shares of the company’s stock worth $82,000 after acquiring an additional 7,110 shares during the last quarter. Finally, DRW Securities LLC bought a new stake in Crescent Energy during the first quarter valued at $115,000. 52.11% of the stock is owned by institutional investors and hedge funds.

Crescent Energy Stock Down 0.9%

Shares of CRGY opened at $9.53 on Friday. The company has a 50-day moving average price of $9.11 and a two-hundred day moving average price of $9.67. Crescent Energy has a 12 month low of $6.83 and a 12 month high of $16.94. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of -52.92 and a beta of 1.86. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Monday, August 4th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.23 by $0.20. The company had revenue of $897.98 million for the quarter, compared to the consensus estimate of $868.34 million. Crescent Energy had a net margin of 0.67% and a return on equity of 13.35%. Equities analysts predict that Crescent Energy will post 0.77 EPS for the current fiscal year.

Crescent Energy Announces Dividend

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

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.