Crescent Energy Company (NYSE:CRGY) Given Consensus Recommendation of “Hold” by Analysts

Shares of Crescent Energy Company (NYSE:CRGY) have been given a consensus rating of “Hold” by the fifteen research firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $13.2727.

A number of analysts recently commented on the company. Evercore ISI began coverage on Crescent Energy in a research note on Tuesday, December 16th. They set an “outperform” rating and a $13.00 price objective on the stock. Mizuho raised their price target on shares of Crescent Energy from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Jefferies Financial Group reissued a “hold” rating and issued a $9.00 price objective on shares of Crescent Energy in a research report on Sunday. Weiss Ratings reissued a “sell (d)” rating on shares of Crescent Energy in a research note on Wednesday, October 8th. Finally, Zacks Research raised shares of Crescent Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 20th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CRGY. Caitlin John LLC acquired a new stake in shares of Crescent Energy in the third quarter worth approximately $27,000. Nisa Investment Advisors LLC raised its stake in Crescent Energy by 50.2% during the third quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock worth $33,000 after purchasing an additional 1,241 shares during the period. Quarry LP boosted its holdings in shares of 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 purchasing an additional 3,123 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of Crescent Energy by 25.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock valued at $46,000 after buying an additional 1,066 shares during the period. Finally, Hantz Financial Services Inc. increased its holdings in shares of Crescent Energy by 135.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 6,018 shares of the company’s stock worth $54,000 after buying an additional 3,466 shares during the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Stock Performance

Shares of CRGY opened at $9.22 on Wednesday. The company has a 50-day moving average of $8.75 and a two-hundred day moving average of $8.85. The stock has a market cap of $2.35 billion, a P/E ratio of -61.43 and a beta of 1.73. Crescent Energy has a 12-month low of $6.83 and a 12-month high of $16.02. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.72.

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

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were given a dividend of $0.12 per share. The ex-dividend date was Monday, November 17th. This represents a $0.48 annualized dividend and a yield of 5.2%. Crescent Energy’s dividend payout ratio is -320.00%.

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.