Crescent Energy (NYSE:CRGY) Price Target Raised to $14.00

Crescent Energy (NYSE:CRGY) had its price objective upped by Piper Sandler from $13.00 to $14.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages also recently issued reports on CRGY. Wall Street Zen downgraded Crescent Energy from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings upgraded shares of Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, February 27th. Zacks Research raised shares of Crescent Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 20th. Wells Fargo & Company dropped their target price on shares of Crescent Energy from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, January 27th. Finally, BMO Capital Markets initiated coverage on shares of Crescent Energy in a research note on Friday, January 9th. They issued a “market perform” rating and a $10.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Crescent Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.67.

Crescent Energy Stock Up 0.5%

CRGY opened at $11.77 on Thursday. The firm has a market capitalization of $3.86 billion, a P/E ratio of 22.63 and a beta of 1.57. Crescent Energy has a one year low of $6.83 and a one year high of $12.40. The company has a fifty day moving average price of $9.54 and a 200-day moving average price of $9.12. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.48 and a quick ratio of 1.48.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.19. Crescent Energy had a return on equity of 8.36% and a net margin of 3.71%.The company had revenue of $865.05 million during the quarter, compared to analyst estimates of $884.64 million. Equities research analysts expect that Crescent Energy will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, March 11th. Crescent Energy’s dividend payout ratio (DPR) is currently 92.31%.

Institutional Trading of Crescent Energy

Several hedge funds and other institutional investors have recently bought and sold shares of CRGY. Vanguard Group Inc. raised its stake in shares of Crescent Energy by 34.6% during the fourth quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company’s stock worth $228,981,000 after acquiring an additional 7,015,982 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Crescent Energy by 8.0% in the 3rd quarter. American Century Companies Inc. now owns 19,363,386 shares of the company’s stock worth $172,721,000 after acquiring an additional 1,434,789 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Crescent Energy by 20.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,872,215 shares of the company’s stock valued at $107,999,000 after purchasing an additional 2,213,352 shares in the last quarter. State Street Corp grew its holdings in shares of Crescent Energy by 27.6% during the 4th quarter. State Street Corp now owns 12,808,605 shares of the company’s stock valued at $107,464,000 after purchasing an additional 2,767,096 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Crescent Energy by 29.0% during the 4th quarter. Geode Capital Management LLC now owns 5,592,793 shares of the company’s stock valued at $46,935,000 after purchasing an additional 1,256,114 shares during the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Company Profile

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.