Crescent Energy (NYSE:CRGY) Upgraded at Zacks Research

Zacks Research upgraded shares of Crescent Energy (NYSE:CRGY) from a strong sell rating to a hold rating in a research note released on Tuesday morning,Zacks.com reports.

CRGY has been the topic of a number of other research reports. Mizuho lifted their target price on Crescent Energy from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Piper Sandler lowered their price target on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 18th. Wells Fargo & Company dropped their price objective on Crescent Energy from $20.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, October 17th. Evercore ISI assumed coverage on shares of Crescent Energy in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $13.00 target price for the company. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Crescent Energy in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.90.

Crescent Energy Price Performance

NYSE CRGY opened at $8.55 on Tuesday. The firm’s 50 day moving average is $8.76 and its 200-day moving average is $8.86. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $2.18 billion, a PE ratio of -57.00 and a beta of 1.73. Crescent Energy has a 12-month low of $6.83 and a 12-month high of $16.55.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Monday, November 3rd. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. Crescent Energy had a net margin of 0.66% and a return on equity of 11.77%. The business had revenue of $866.58 million during the quarter, compared to analysts’ expectations of $887.54 million. Equities research analysts anticipate that Crescent Energy will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date was Monday, November 17th. Crescent Energy’s dividend payout ratio is -320.00%.

Hedge Funds Weigh In On Crescent Energy

Several institutional investors and hedge funds have recently modified their holdings of CRGY. Caitlin John LLC bought a new position in shares of Crescent Energy in the third quarter valued at about $27,000. Nisa Investment Advisors LLC grew its stake in Crescent Energy by 50.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock valued at $33,000 after buying an additional 1,241 shares during the last quarter. Quarry LP raised its holdings in Crescent Energy by 303.5% in the 3rd quarter. Quarry LP now owns 4,152 shares of the company’s stock valued at $37,000 after acquiring an additional 3,123 shares during the period. Osaic Holdings Inc. raised its holdings in Crescent Energy by 25.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock valued at $46,000 after acquiring an additional 1,066 shares during the period. Finally, Hantz Financial Services Inc. lifted its position in Crescent Energy by 135.8% during the third quarter. Hantz Financial Services Inc. now owns 6,018 shares of the company’s stock worth $54,000 after acquiring an additional 3,466 shares during the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

About Crescent Energy

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.